Posted on 10/24/2009 2:22:27 PM PDT by Starman417
Obama lifts accountability and transparency rules for Unions as he cuts CEO pay of bailout firms!
Remember the shock this week when Obama's pay czar announced up to a 90% cut in the salaries of executives at firms which took federal bailout help? The thinking is that those firms, which include Chrysler and General Motors took government help and will live by government rules.
Fair enough perhaps but what about the Auto Unions? They got a huge handout in both GM and Chrylser bailouts. The Auto workers union will end up owning Chrysler. Yet, in a move which got no publicity at all, not even on Fox News, the Obama Administration quietly moved to reduce transparency and accountability requirements for ALL labor unions:
The U.S. Department of Labor has formally rescinded a series of reporting changes designed to enhance union disclosure.
The aim of these rule changes is to weaken union oversight requirements - a trend this Administration started with its FY 2010 budget, which cut $4.4 million from the Office of Labor Management Standards, more than a 10 percent reduction in its overall budget. Judging by the profligate spending this Administration has applied to nearly every other department - giving the federal budget a nearly 10 percent boost in spending, cutting union oversight seems an odd place to “save money” - unless reducing transparency, and not saving money, were their aims.
Part of the transparency roll back for union bosses includes the following items that the Labor Department will no longer require of unions:
(Excerpt) Read more at floppingaces.net
bmfl
I do not think the issue is about capping everyone’s pay, it is about capping the pay of investment bankers who went bankrupt and is kept afloat by US taxpayers. If the author is saying that the bankers under TARP are eligible for bonuses, it is like a plumber who came to your house to fix a leak and left you with six new leaks plus a bill for his hours. Would you pay him after he screwed up?????
“Why no union pay czar?”
Why bother? It would probably be Charlie Rangel—master of cheats.
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