On the Auto bailout - The party of Hoover
What the hell is wrong with these people?
We're on the brink of collapse, and these Republican idiots are dicking around with union wages? Nothing like slamming a dose of economic horror on the markets right in the middle of the Christmas shopping season.
Is there a major economist who backs this position?
That was the message Vice President Dick Cheney brought to a closed-door Senate GOP lunch Wednesday, reportedly warning that it’ll be “Herbert Hoover” time if aid to the industry was rejected.
Didn't they learn anything from the House Republicans trying to block the financial bailout? If they think it's going to help them politically, they're idiots. They're going to take the blame.
I'm sorry, I'm so enraged I can't even express it.
posted by mikevotes at
8:04 AM
3 Comments:
What's weird to me is the double standard of banks vs auto makers.
The bankers got their zillions without breaking a sweat. Paulson forced them to take even more money, in fact. No one complained they flew on private jets or made the execs grovel in front of committees.
Detroit is seeking far less than the banks got, and suddenly it's way too much to ask? Very strange.
That said, the UAW needs to wake up and face reality at some point. Their above-market wages and benefits cannot be sustained indefinitely.
By
Patrick, at 8:42 AM
Well, the Republicans could hardly campaign against the rich bankers. Unions on the other hand.....
And, the UAW issue isn't quite as clear as that. They make only marginally more than the non-union folks in the south. The killer is the overhang of healthcare and pensions that the newer plants don't carry as their dependency ratio (retired vs working) is next to nothing.
By
mikevotes, at 10:38 AM
A little later: Apparently, the UAW did make some concessions and Sen. Bob Corker took them back to the Senate Republican caucus who voted down the idea after 2 hours of deliberations.
By
mikevotes, at 10:52 AM
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