Monday, December 22, 2008

Who Pays?

Hilzoy succinctly summarizes the deep injustice involved in ensuring financial executives retain their bonuses, company paid chauffeurs, accountants and private jet rides, while UAW workers and retirees must give up wages and benefits they won in fair negotiations.

Honestly: what sense does it make to stick it to a bunch of auto workers while letting the financial executives off scot-free? How can Richard Shelby get all upset about the fact that some blue-collar workers have, gasp, health care, and not about the fact that financial executives, on whom we have spent a lot more money than the Big Three ever asked for, get financial planners and chauffeurs? Just imagine the furious oratory we might have heard had the UAW succeeded in negotiating benefits like the ones people get at Goldman Sachs. (I'll bet chauffeurs would help auto workers concentrate more on their jobs...)