Posted on 11/19/2008 7:08:52 AM PST by governsleastgovernsbest
Barney Frank favors bailing out the Detroit automakers over letting them go into bankruptcy. Chief among his concerns is that bankruptcy might "bust" the unions. You know, those organizations whose contract demands have put Detroit on the brink of extinction.
The Massachusetts Dem, chairman of the House Financial Services Committee, was interviewed by Maggie Rodriguez on today's Early Show. He appeared alongside Sen. Richard Shelby (R-Al.), ranking Republican on the Senate Banking Committee, who favors letting the automakers reorganize under Chapter 11.
View video here.
(Excerpt) Read more at newsbusters.org ...
“Barney Worries Bankruptcy Would Bust Unions”
Labor or civil?
Your information is not what I’ve been hearing from auto workers.
Several things need to be done to save the US auto industry; 1). Bust the Unions and then set up reasonable wages and benfits for employees based on their qualifications. 2). Get the government and cafe standards out of free enterprise. Let the auto makers make the cars they think people want. 3). Somehow give stock holders a method of controlling executive compensation. 4). Don't allow countries to import cars to the US, if they have protectionist policies that keep us from exporting to them. 5). heck, just let the big 3 dissolve, then start new companies. I am sorry for the Auto-workers, but the Union thing and their blind allegiance to the Democratic party has crippled the American auto-industry. It has been a sick and dying patient for a long time. Heck, America has been a sick and dying patient for a long time. Can we salvage ourselves? It's going to be painful.
Must depend on the auto worker's age, time of retirement. Maybe they were skilled trades, as opposed someone who worked on the line, skilled trades made alot more money and had cushier jobs.
Since my husband is a newly retired auto worker and I pay the bills, I would know.
Several things need to be done to save the US auto industry; 1). Bust the Unions and then set up reasonable wages and benfits for employees based on their qualifications. 2). Get the government and cafe standards out of free enterprise. Let the auto makers make the cars they think people want. 3). Somehow give stock holders a method of controlling executive compensation. 4). Don't allow countries to import cars to the US, if they have protectionist policies that keep us from exporting to them. 5). heck, just let the big 3 dissolve, then start new companies. I am sorry for the Auto-workers, but the Union thing and their blind allegiance to the Democratic party has crippled the American auto-industry. It has been a sick and dying patient for a long time. Heck, America has been a sick and dying patient for a long time. Can we salvage ourselves? It's going to be painful.
No one sits at home and "collects full wages" not even those on unemployment. The pension payments are good right now, and WAY under Obama's "wealthy" level, even with benefits. Unemployment does not have taxes taken out at the time it is distributed, that comes out later.
There is no blind allegiance to the Democrat party, only a resignation to do what must be done for one's family.
It would be nice to control executive compensation, wish we could do that for Congress.
I am against any bailout unless the UAW and its members take about a 40% haircut on Wages and fringes. The same applies to the AutoMakers.
Why should AMERICANS pay for the corrupt unions bailout if they won’t take a haircut too. Enough is enough.
thanks Ernest:
Why Democrats Are So Eager to Save Detroit Auto Makers
( Throwing good money after Bad! )
Flopping Aces | Nov 18 ,2008 | Mike’s America
Posted on 11/18/2008 7:20:15 PM PST by Ernest_at_the_Beach
http://www.freerepublic.com/focus/news/2134436/posts
thanks I forget whom:
Dems Target Private Retirement Accounts
Carolina Journal Online | November 04, 2008 | Karen McMahan
Posted on 11/18/2008 4:45:37 PM PST by Clintonfatigued
http://www.freerepublic.com/focus/f-news/2134324/posts
thanks grellis:
Video: Bailout money doesn’t belong to us
HotAir.com | 11/19/2008 | Ed Morrissey
Posted on 11/19/2008 6:37:13 AM PST by AT7Saluki
http://www.freerepublic.com/focus/f-news/2134575/posts
Mitt Romney: Let Detroit Go Bankrupt
http://www.nytimes.com/2008/11/19/opinion/19romney.html
Posted on 11/18/2008 9:08:55 PM PST by MittFan08
http://www.freerepublic.com/focus/f-news/2134494/posts
Additional links at #51
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