Monday, December 15, 2008

The Only War the GOP can win...

Is a class war.

While using blue-collar workers as scapegoats to facilitate the coming of "Herbert Hoover Time" the GOP shows just how concerned they really are about equity and fairness.

Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules.

But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said...

...Now, however, the small change looks more like a giant loophole, according to lawmakers and legal experts. In a reversal, the Bush administration has not used auctions for any of the $335 billion committed so far from the rescue package, nor does it plan to use them in the future. Lawmakers and legal experts say the change has effectively repealed the only enforcement mechanism in the law dealing with lavish pay for top executives.

But the UAW and its members "MUST" immediately make a major sacrifice or the Big Three will die.

So, how has that all worked out for you "Reagan Democrats"?

(pic from sd-optimist)

[cross-posted at Firedoglake]

No comments: