Friday, December 26, 2008
Autoworkers vs. bankers: The less deserving than thou cage match
Megan McArdle sorts out the "fireside equities" in "bailing out" auto workers vs. bankers. Lefty rhetoric notwithstanding, she is more than a little persuasive that neither the car companies nor their unions would want the deal that the government gave to the bankers. The flip-side is also true:
[M]ost of the people who Hilzoy thinks of as picking on the auto workers would be willing to accept a deal in which the Big Three got some funds in order to put its balance sheet back together, then started firing people at will until they were small enough to make a profit again.
No question.
CWCID: Glenn Reynolds.
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