Observation
So on the way to the station a few hours ago I heard that the deal for the auto industry was shot down in part due to Republican demands that the UAW cut wages.
I realize I’m writing this pretty half cocked* but, what that seems pretty jacked up to me.
The banks (including BOA, who announced that they’re laying off the equivalent population of Ballwin next year) didn’t get any restrictions about executive pay and they got a ton more money, most of which is gone now.
The way I look at the lunacy is this. It’s easier for me to grasp by taking away all those zeros:
Let’s say I call my Mom & Dad and ask for $750. I allude to some sort of crisis that sure does seem imminent, they think about for a day or two, call me back, send a check, don’t tell me how to spend it, only knowing that I need it. Then, let’s say Trish calls them a month later asking for $15. Now they expect a full powerpoint presentation about why she needs the $15, how she is going to spend that $15, and how she is going to change her habits so that she never needs to ask for $15 again only to say, “Nope.” That’s stupid stupid stupid.
I’m not saying the industry didn’t screw itself. It serves ‘em right in a way for shipping all those jobs away from America but come on!
Even though Republicans traditionally don’t support labor unions (labor cost $$, lowering corporate profits (earn a decent living? not on my watch)) but it took both Democrats and Republicans working in dedicated collusion to whore out that much money.
I was against the bank bailout. Partly I have a “f*ck you” about spending tax dollars to bail out a business. A complete overhaul is needed. What makes no sense is the banks have no mandate to be responsible for the money. No safeguards for you and I footing the bill and no oversight to make sure the money is used for ‘Main Street’ instead of padding company bottom lines. England’s bailout involved seats on company boards and all kinds of stuff to make sure the problem didn’t occur. I’ll try to find a link later.
The other part, the bigger part, is that if the system crashes, things get rough, but the market will correct itself.
Money will always find a place to go.
*The guy who taught an Irish history class I took said: You’re Irish. If you can’t go off half cocked why go.