Posted on 04/01/2009 4:27:44 AM PDT by Scanian
On the heels of the resignation of General Motors CEO Rick Wagoner, the Service Employees International Union is urging President Barack Obama to oust Bank of America CEO Ken Lewis.
“It defies logic, common-sense, and responsible governance to punish the auto industry while letting financial institutions off the hook,” SEIU President Andy Stern said, announcing his call for Lewis’s job Tuesday.
The SEIU has begun circulating an online petition, calling on the administration to “show the door to CEO Ken Lewis.”
“Firing GM's CEO is a positive step towards restructuring a broken industry,” Stern said. “But the Obama Administration needs to apply the same lesson to the financial sector: replace failed leadership and shepherd the industry into a new era.”
Stern explain that both CEOs “sunk large public companies—putting thousands out of work and toppling the American economy — while accepting billions in taxpayer bailouts. Yet only Wagoner got a pink slip.”
“It’s time for Treasury Secretary Geithner to replace Ken Lewis as CEO and let real reform take hold at Bank of America,” he said.
(Excerpt) Read more at politico.com ...
Who is head of the SEIU? They are BIGGER THUGS than ecen the TEAMSTERS!!
Hope they win this one. Ken Lewis and BofA can go to hell for all the criminal crap they have foisted on California - siding with the UFW (that helped them a lot here, huh?) back in the grape strike days; promoting illegal immigration and the Mexican re-occupation of California by taking Matricula Consular cards as identification; making loans to illegal aliens who they knew were lying about citizenship on their applications and eventually defaulted on those loans, helping in a big way to create the current crisis.
Seeya Kenny. Garbage in, Garbage out. Next time pick your buddies a little bit better.
The problem is, where did the president get the statutory powers to fire anyone from any company? Was it in the bailout deal? If not, we should all be more concerned about his lordship overstepping these bounds.
If you would have told me 90 days ago, that America would descend into Fascism this far this fast I would have laughed out loud.
As a kid I wondered how a failure and house painter like Hitler ever rose to power. Never thought I would witness it.
If I don’t post for a few days it is because I had to go underground to avoid Obama’s Stasi. Not kidding, either.
My only hope is that they overreach and the American people wake up. Given the status of public school and the level of quality debate on a conservative forum, it is a slim hope.
The SEIU is a left-wing outfit.
“My only hope is that they overreach”
They have already. We need to object.
Millions of us at Tax Day Tea Parties would be a good start.
Either that or go back to American Idol and the Amazing Race.
I can remember discussing the rise in power of Hitler and his fellow fascists with my parents and Grand Dad. They saw what was happening and the rest of the world ignored it. You are right on target with your comments reposted below:
“If you would have told me 90 days ago, that America would descend into Fascism this far this fast I would have laughed out loud.
As a kid I wondered how a failure and house painter like Hitler ever rose to power. Never thought I would witness it.
If I don’t post for a few days it is because I had to go underground to avoid Obama’s Stasi. Not kidding, either.
My only hope is that they over reach and the American people wake up. Given the status of public school and the level of quality debate on conservative forum, it is a slim hope.”
You said it.
He didn't, literally; just practically. In GM's case, it was made clear that no more cash would be forthcoming if Wagoner didn't leave. And the only place they can get cash now is...the government.
Eventually the government will get such authority. It will be part of the oversight related to taking money.
Defense companies have rigorous oversight regulations and their management is subject to background investigation (part of the facility clearance, for example) and other politics. Why? They take money from the gov.
Moral of the story....if you really are free market capitalists, make sure you stay private. Once you take their drug ($$$), you're hooked, and they own you...
It remains to be seen if SEIU will take down Ken Lewis. But then, he did drink the Kool-Aid...
Reasonable people will point out that they were forced to make loans they shouldn't have by the government, the regulations did this, the politicians did that...but in the end, gambling operations like the big banks were totally on board...because they were making scads of money. There are a lot of small banks, credit unions etc who never engaged in the recklessness. They're still around!
So let's just say that guys like Ken opened themselves up to control by a thug like Barack Hussein.
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