paul

Detroit Bailout Watch: Looks Like Bush Blinked

The union sends someone to negotiations that will lose his job if he comes back empty handed. The coprorations send someone that is looking at the hourly rate and benefits as one component of costs. If he doesn't cave to union demands, they strike and the ensueing losses are greater than the cost of the new contract. Guess who wins???? The result is what we have with the Big 3, corporations that can't compete in the world economy due to legacy comittments and salary concessions. Can you say goodbye to auto manufacturing? It will go off shore as long as the UAW is in control.

The Ten Most Egregious Assumptions of 2008

It's all about "risk" and "return". Government oversight should not allow the degree of risk that is being assumed by banks and other financial organizations.