This whole bailout mess is getting to look more and more like a Faustian bargain. Our legislators are willing to take what some say already actually totals over $2 trillion (that’s right, with a ‘T’) dollars from us, the taxpayers, and hand it over to the bums on Wall Street without nary a string attached, but when it comes to saving middle-class workers, they just say, “fuggetaboutit!”
Instead, Senators, mostly of the Republican stripe, are demanding concessions from unions before they will consider voting to bail out Detroit. This, after years and years of concessions the auto industry unions have already caved in to.
Now, I’m not for a no-strings-attached bailout of the Big 3 automakers either. There should be conditions. Like, they must use the money to phase into making all-electric (preferably) and hybrid (if we must) vehicles. And only if the automakers withdraw their many lawsuits against state governments (in attempts to dodge environmental laws). They could insist on new management that actually understands that the same ol’, same ol’ won’t work.
But, no. They make their only demand that the union workers be reduced to the swelling ranks of the working poor. And unfortunately, the media seems to be going along with the charade, talking as if it is the unions that are holding up a Detroit bailout.
This is a travesty. The American worker and homeowner is precisely who we should be bailing out, not the CEOs, bankers and Wall Street sleazebag.
We can only hope Mr. Obama truly understands this, and that we can make it through until he can implement some needed changes.