Monday, June 01, 2009

Kucinich cuts through the bull

Bloomberg: Obama Saving GM Needed Dealmaker Team to Break It in Bankruptcy

Obama was taking the wheel out of the hands of a GM veteran who spent his 32-year career with the company that sent him to Harvard University for a master’s in business. The Wall Street restructuring experts were in charge.....

Because, after all, Wall Street has done such a good job lately managing its own affairs lately.

“Who is this auto task force, and who do they represent?” asked Representative Dennis Kucinich, an Ohio Democrat. “They represent various Wall Street interests who have long looked at exporting jobs out of this country.”

Wall Street Blows up the economy, then is handed vast sums of money with no strings attached along with many lucrative opportunities for self dealing at the taxpayer's expense. GM is blown up by the economy we give it to the geniuses who have worked night and day to ensure the collapse of the middle class so they can get a couple more beeps of yield on the deal.

By the Way, why are labor contracts sacred for AIG but not the UAW? How did the titans of Wall Street get to DC for their 4 trillion dollar bailout? How is complaining about a worker making $25 an hour plus benefits populism and complaining about a CEO making $25 million envy?

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