LA TIMES: The foreign nonunion auto companies located in the South have a plan to reduce wages and benefits at their factories in the United States. And to do it, they need to destroy the United Auto Workers.Bye bye middle class America. Have a nice depression.
Last week, Senate Republicans from some Southern states went to work trying to do just that, on the foreign car companies' behalf. Senate Minority Leader Mitch McConnell (R-Ky.), Sen. Bob Corker ( R-Tenn.) and Sen. Richard C. Shelby (R-Ala.) -- representatives from states that subsidize companies such as Honda, Volkswagen, Toyota and Nissan -- first tried to force the UAW to take reductions in wages and benefits as a condition for supporting the auto industry bailout bill. When the UAW refused, those senators torpedoed the bill.
continued... Hundreds of billions were given to the financial-services industry with barely a question about compensation; the auto bailout, however, was sunk on this issue alone.
UPDATE: Speaking of the financial-services industry screwing taxpayers over, read Did America Get Punk'd on the Bailout? You betcha! We have work to do and letters to write.