I told you so……..
The government bought the Autos. A black hole if there ever was one. The Dems can not compete without union money.
Remember helium vendors? In case we needed blimps to fight the next war? We need these companies for the same reason.
Hey! You never know. After all they will be Moslem entities.
Barack Obama owes organized labor a huge debt for his November victory. UAW President Ron Gettelfinger can be expected to try to sell Obama labor agreements that appear to create more concessions than are real and leave the Detroit Three in the red going forward.
Fooling Obama would create loans the Detroit Three never can really repay. The government could force payment at the expense of the next creditors in line—the large U.S. banks—but the federal government is already subsidizing their losses.
One way or the other ordinary citizens who don’t earn nearly the pay and benefits autoworkers receive would be paying taxes to subsidize their rather generous lifestyles, much as taxpayers are financing the bloated bonuses at large New York banks requiring federal dole to stay afloat.