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The UAW’s Money-Squandering

Written by | January 1st, 2009
For many, many months, people have debated about why, and how these bailouts may or may not help the economy, keep companies from tanking, even save jobs.
Like many others, I never saw any good in these tax payer subsidized bailouts. However, most recently, our esteemed government cut a check for 17.4 billion dollars of “our” money, as a bridge loan. A bridge to where, is a whole different topic.
Of course, I do understand that thousands of employees may have lost their jobs, in Detroit, had these big 3 companies gone under. That being said, I still believed that bankruptcy, restructuring and re-negotiating of union contracts was the natural, and likely, best avenue to take.
Well, thanks to excellent research, and reporting from people like Michelle Malkin; after reading this article, I have a feeling that many people will be convinced (if not already) that these union leaders needs to go.
As it turns out, we may be subsidizing a bit more then we first realized.
You can read her article here…
Below is Michelle discussing her findings on Foxnews Business.

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3 thoughts on “The UAW’s Money-Squandering

  1. markross Post author

    It is beyond me, how these UAW bosses have the audacity to even come to the government for money; and what is even more beyond me, is how the government is not (assuming) making these union bosses liquidate these excessive luxuries.

    Bankruptcy would have forced them to lay all assets on the table; now, reporters like Michelle have to go expose the very things that would have been lawfully unveiled.

    I can not help but to believe that the government has far more interests then some people loosing jobs; there is no other logical answer that I can see.

    And, if these companies end up bankrupt anyhow; how will we get that 17 billion back?


  2. markross Post author

    Hi LdyBelle,
    You raise a whole different topic, in and of itself.

    If you read the article, it is really unbelievable.

    This is purely speculative, however, from reading this article, it isn’t hard for one to conclude that the government has some vested interest (in this union) besides the loss of jobs.



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