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i saw an article on drudge report about unions and the bailout. let me try to find it.
Edit: Maybe it wasn't on Drudge as Im not seeing it now. It was something to the extent of the Unions are the ones behind the bailout because otherwise things are restructured and they lose their power.
Edit 2 : Yes it was drudge.
DeMint blamed the unions for pushing this issue as far as it has gotten. The senator said the notion that reorganization under bankruptcy would not work was generated by the unions for fear of losing their power.
“The primary driver behind this is the unions, because bankruptcy allows the auto companies to basically restructure all their contracts in a way that a bankruptcy judge says will make them sustainable,” DeMint said. “And if they do that, then essentially the unions lose all their leverage. It’s the unions that have brought them to the brink. So definitely, I think the reason they want a political solution and a car czar is because a car czar can protect the unions through this whole process at the expense of the taxpayer.”
There should be a filibuster as there is no reason to bail these companies out. From what I can gather, there is much more leeway in terms of renegotiating the UAW contracts after the companies file for Chapter 11 than there is right now. This $14 billion is just a short term loan to hold the companies over until the new administration takes over. They are going to need a lot more than this if they can remain viable at all.
One of the best arguments for this loan and others is that the financial sector was bailed out. Politicians need to stop the bailouts or there will be many more companies coming to DC with tin cups (especially those with active lobbies).
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