Monday, February 23, 2009

The GM & Chrysler Fiasco

David Berner has an excellent piece on the auto-manufacturing bailout.

Here's the comment I left:

Let's not ever forget the original impetus for this stupid bailout plan: Jack Layton and Stephane Dion, supported by Michael Ignatieff and Bob Rae. They DEMANDED that a bailout of the failing auto-sector occur ... no matter what.

Their demands were met ... big time!

At the same time, the executives of GM & Chrysler have accepted no significant cuts to their remuneration. As far as I know, the Canadian Auto Workers Union hasn't given up anything.

So effectively our hard earned tax dollars are going towards gold-plated salaries and benefits packages of a precious few. And make no mistake, now that the $$$$$ have started rolling out of Ottawa and down Hwy 401 to the auto-plants, it'll be extremely difficult to ever shut off that flow.

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