Battle Of The CollarsPosted: 1 April 2009
Funny, amusing, not ha ha funny, that doing the election the workers and saving the middle class was all the rage. But now it seems to be not as important as it once was.
Remember during the primary season, before Edwards dropped out, he said that there were two Americas. And if you recall a lot of the media beat him up because of the statement. So far with the economic crisis I have seen nothing that would dispute his observation.
Since the beginning Washington, both the Bush and the Obama admin, have done all they could to save the financial industry. The people that gave us the meltdown of today. And with the other hand slapping the workers around, forcing them to give up many of the concessions that were won in past negotiations.
When Obama declares that the proposals submitted by GM and Chrysler are inadequate, the principal object of his attack is the working class. To carry out a “fundamental restructuring,” Obama said, “will require unions and workers who have already made extraordinarily painful concessions to do more.”
Wages will be slashed further; work rules will be gutted to increase exploitation; health coverage, pensions and other benefits will be slashed or eliminated. Immediately targeted are the medical benefits of hundreds of thousands of retirees.
And yet none of this was required of WallStreet, such units as AIG or Citigroup as if those institutions were somehow better than the auto industry and did not need to give up anything to get government bailout.
Back in January of this year I predicted that there was going to be a coming war of the collars and looks as if I was a seer. Ask yourself, why is Wall Street immune to the strict painful scrutiny of the government.