Friday, September 4, 2015

Choosing people who make money out of thin air over people who make actual things

Choosing people who make money out of thin air over people who make actual things


I realize that the dire predicaments faced by the American auto industry and by Wall Street are complex and not easy to compare to each other, but you have to think the Obama administration could have done a lot more to convince America that its hard-nosed approach to Detroit and its masses of blue-collar workers doesn't prove that by contrast Washington is in the tank for the financial sector.

I think Philly blogger Susie Madrak did a good job summarizing how many folks feel:

Billionaire bankers (and their investors) walk away from the table with their pockets stuffed with taxpayer cash while members of the auto workers union are told they’ll have to sacrifice even more - in this case, the Obama administration wants the companies to get rid of “old liabilities” - i.e. retiree pensions. (You know, while bankers complain about having to sell the house in the Hamptons.)

No, Obama’s not talking about the insolvent banks. He’s talking about Detroit. Could he make it any more obvious that the wealthy are a protected class?

No, I don't think he can. What are we going to do about America's ruling class, since we can't seem to vote them out of power?

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Will Bunch
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