The UAW was right

[Monkeyleg]

Months ago, when the UAW walked away from the table in negotiations with the senate over the GM and Chrysler bailouts, I was critical of them. Now I think they were smart. Giving the government the power to change contracts is dangerous.

Perhaps because of their experience in politics, the UAW leaders saw what being in business with politicians can do. The folks at AIG are only now learning what happens when you lie down with dogs.

I hope that other businesses will look at AIG and turn down the promise of "free" money.

[longeyes]

Isn't the real issue that .gov should have achieved re-writing contracts the old way, per bankruptcy actions, and stayed out of the subsidy game?

[RocketMan]

Drudge is showing this right now:

Obama will call for increased oversight of 'executive pay at all banks, Wall Street firms and possibly other companies' as part of sweeping plan to 'overhaul financial regulation', NY TIMES reporting Sunday, newsroom sources tell DRUDGE... Developing...

We will see what happens.

In another thread awhile back I raised this possibility.  I was told I needed to buy more tinfoil for my hat.

[French G.]

The UAW didn't walk away because it feared for the health of our Republic. It walked away because their greedy little version of socialism didn't jive with the government's version of greedy socialism with an authoritarian cherry on top. Two different colors of Norway rat in the same sinking boat.

[Perd Hapley]

Norway Rat.   

[wquay]

Isn't the real issue that .gov should have achieved re-writing contracts the old way, per bankruptcy actions, and stayed out of the subsidy game?

yes

[Gewehr98]

I'll go with the Norway Rat analogy for $5.00, Alex!