On Sat, 9 May 2009 19:32:35 -0400, "Eisboch"
wrote:


"Vic Smith" wrote in message
.. .

Here's a different take.
http://www.nytimes.com/2009/05/02/bu...html?_r=1&dlbk

This ending comment should make many here happy.

"This may come to be seen as Mr. Obama’s Nixon in China moment. Just
as it took a conservative Republican to open relations with the
largest Communist country in the world, it took a liberal Democrat to
break the U.A.W."

I do think this announcement of the UAW's death is premature.

--Vic


Consider this.

If the Fed had not provided bailout money to Chrysler (and GM) this story
would have an entirely different ending.
What we are witnessing is the government controlling the destiny of a public
corporation and screw the courts and bankruptcy laws.

More to come.

No doubt more to come, but consider this;

Major banks are failing left and right.
Hundred of thousands of Americans are losing their jobs.
The survival of the financial markets are in jeopardy.
The Dow Jones is in a precipitous dive, and trillions of dollars
of American wealth is being lost.
Home prices are in free fall and foreclosures are setting records
as more $trillions of American equity evaporates.
Suddenly, GM and Chrysler announce they can't operate
without government aid. They must shutter operations.
Perhaps millions of more American in the automotive industry and its
ancillary industries will get pink slips.
So George W. Bush and Hank Paulson bail them out.
What would you have done then?

--Vic