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In reply to the discussion: Obama Levels Cheap Shot At Unions - Again [View all]WillTwain
(1,489 posts)There is a book out written by an award winning journalist who's name escapes me, that details the conversations the Obama administration had about the auto industry.
In the book, Summers and the gang initially were all against the bailout. In what was a cold political calculation, they decided that at the same time that they were giving $700 billion to Wall Street not saving the auto industry would be political suicide. The unions would have gone insane, pulled out of the democratic party and left Obama on his own for 2012.
Someone on the staff said it would look bad to say the banks are too big to fail but images of laid off auto-workers being to small to save would look bad. Yes, it is a remnant of 1965.
Pressure from big unions saved your pension and gave you it in the first place.