Monday, March 16, 2009

..........questions we should be asking.

Why were GM and the UAW forced to renegotiate contracts, but AIG is bound by the letter of the law?

When the Bush White House agreed to bail out General Motors and Chrysler, it required those companies to renegotiate their labor contracts—that’s right contracts—and they are doing just that to keep their federal largess.

The Obama Treasury, headed by Tim Geithner, is forcing the terms of that deal on the United Autoworkers.

Why did Secretaries Paulson and Geithner not require the same at AIG? Remember, Geithner was president of the New York Federal Reserve Bank and a key player when financial giants like Citigroup and AIG were being bailed out with the taxpayers’ cash. Those bailouts continue, with easy terms for the bankers and their contracts, on Geithner’s watch.

Gee, would Geithner's ties to Goldman Sachs have anything to do with this decision?

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