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I thought that the inflation of car prices caused by the unions was wrong for all of us when I was still a far left leaning Democrat. For some reason my attitude about that hasn't changed at all.
Yes, the market for union products seems to have shrunk down to the mafioso and the ultra-rich. Too bad they can't see that normal Americans can't afford and don't want their inferior products anymore.
It's more about a selfishness that has been bred into the rightwing, and that some mythical pledge of self sufficiency causes American manufacturing jobs to disappear while banks that have raped those they loaned money to are "bailed out" for corporate abuses and financial mismanagement.
Guess which side of the aisle wants to decrease government oversight on those banks? Same one telling you GM should have gone under.
Government oversight does NOT equal "smaller government", and the corporatists have you shrieking for that too.
Selfishness and intellect. Or lack thereof.
Taken with the spiteful way you delivered your post:
You are wrong on every point, and that takes a concerted effort on your part, it's not like you can be wrong on so much simply due to ignorance... can it?
The part I highlighted in red is meaningless dribble to me, I have no clue what you are trying to say.
However, the banks that ripped people off were operating in a corrupt and out of control financial system designed under the Clinton and Carter administrations, to ostensibly give an increase of home loans to lower income people. A noble idea, if the government only encouraged and did not threaten, mandate and impose. to make these loans happen.
It would be nice if more lower income people could secure a mortgage loan, but the system set in place in the late 1990s allowed commercial and investment banks to merge, and made it legal to gamble with the money of depositors. The liberal policy of giving away loans to any and all applicants, regardless of their ability to pay, and GSE's like Fannie and Freddie buying up and bundling bad paper created a corrupt game of hot potato.
It was the Clinton administration that "decreased oversight on those banks" and ended regulations that had been in place since the Great Depression to prevent another stock market crash.
By repealing the Glass-Stegall Act Clinton paved the way for investment banks to merge with commercial banks. The Clinton Administration also forced banks to increase mortgage lending to people who were a high risk. Being forced into accepting risky loans, the bank started off loading them as quickly as possible, starting a game of hot potato.
A whole lot of blame goes right on the shoulders of Bil Clinton. Bush had little to do with any of the banking disaster, however, he merits some blame because did not repeal it all.
Let me throw your question back at you:
"Guess which side of the aisle wants to decrease government oversight on those banks?"
I have not watched that video, but those people sitting around look like the union folks from the UAW's jobs bank program, where they don't work, but get paid a full salary to sit around all day.
Nov 2005-
With Wall Street wondering how automakers can afford to pay thousands of workers to do nothing as their market share withers, the union is likely to hear a similar message from the Big Three when their contracts with the UAW expire in 2007 -- if not sooner.
"It's an albatross around their necks," said Steven Szakaly, an economist with the Center for Automotive Research in Ann Arbor. "It's a huge number of workers doing nothing. That has a very large effect on their future earnings outlook."
General Motors Corp. has roughly 5,000 workers in its jobs bank. Delphi has about 4,000 in its version of the same program. Some 2,100 workers are in DaimlerChrysler AG's Chrysler Group's job security program. Ford had 1,275 in its jobs bank as of Sept. 25. The pending closure of Ford's assembly plant in Loraine, Ohio, could add significantly to that total. Those numbers could swell in coming years as GM and Ford prepare to close more plants.
I have not watched that video, but those people sitting around look like the union folks from the UAW's jobs bank program, where they don't work, but get paid a full salary to sit around all day<snip>
Your blind allegiance to corporate America makes you not only wish for the failure of an American institution and thousands of manufacturing jobs but you also turn a blind eye to corporate abuses and outsourcing to attack an American company that employs Americans.
Quite a mouthful from someone who knows NOTHING of my investment portfolio and plan.
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So you follow the instructions given to you on FOX or by Rush Limbaugh
Lemme see, the last time I consulted Fox and Limbaugh for investment advice was.......never.
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and attack GM for attempting to make a comeback with government help.
Yeah, they helped me a lot. Six cents on the dollar. Thanks government!
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So far, I've heard not a peep from rightwingers about the money the government MADE when Chrysler paid back money that Carter loaned them, only to be squandered by the excessive spending of Reagan.
Reagan would be beaten by Bush in ramping up excessive spending and the national debt. Not a word from the wingers about this.
You ain't reading the right investors news.
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Thats why it is further proof that conservatives hope for the failure of America and the disappearance of American jobs.
You are part of the problem
I invest a small fortune (to me) and the government takes it away. And I'm the problem?
None stop Union-bashing from the wing nuts is nothing new.
Especially on this forum.
No use even trying to talk to, or reason with them?
Just tell 'em to kiss-off, and go on to the next subject.
Steve
I've got no beef with a union that performs for the good of the worker, the company, the industry, the investor and consumer.
The auto unions however take only the worker into account, not the company, the business, the investor and finally the consumers.
Face it - without all parties in the equation, the others lose.
So it makes the theft of taxpayer money, in order to line the pockets of unions, okay? Where are the buckets of money for my company, or my son's, or my brother's and sister's???
It REALLY pays to be a labor union under this administration:
The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.
The original stockholders were screwed to the wall by this administration, and the taxpayers will take years to recoup their investment if they ever do so,....but the labor unions are free to do as they please and are whistling to the bank with their loot.
Gotta love this anti-business, pro-labor administration.
Businesses are enjoying RECORD PROFITS!!
Pro-Labor? Good. About time. God Bless the United Auto Workers.
Pro-Labor? Good. About time. God Bless the United Auto Workers.
Those aren't profits at GM, those are our taxpayer dollars imitating profits. Even the stock GM recently sold was a loss to the taxpayers for every single share purchased.
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