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email to Windsor Star re auto worker Bailout

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joe emersberger

Joined: 24 Jan 2004
Posts: 513
Location: Windsor, Onatrio, Canada

Post Post subject: email to Windsor Star re auto worker Bailout Reply with quote

RE: Everyone's problem by Gord Henderson

Mr. Henderson.
Now IS the time for finger pointing, regardless of where you stand on the necessity or fairness of autoworkers making concessions. It matters greatly to me as an autoworker and taxpayer where the blames lies for the present crisis. If you don't accurately access blame then the wrong people will be punished, the root cause of the crisis will not be addressed, and future crises are much more likely..

The collapse of the US real estate market lies as the heart of the current crisis. Housing prices inflated out of all proportion to historical trends for several years - similar to what happened with the stock market in the late 90's. A handful of economists warned about the danger of the bubble and were basically ignored by the corporate press. Asset bubbles generate huge profits while they last, so there is little incentive to acknowledge or do anything about them.
Autoworkers did not push the US Fed to deny the existence of the housing bubble, nor did they tell the corporate media to ignore the problem and rely on analysts who were cashing in on it..
Autoworkers did not push for financial deregulation which greatly magnified the impact of the bubble when it finally burst.
CEO's, not autoworkers, are paid millions of dollar to anticipate trends in the economy and steer their companies accordingly.

Your article seems to ask "If Mexican workers, or low wage nonunion Canadian workers don't make as much as you then why should you?"

If you are for distributing wealth from rich to poor I'm with you, but undermining well paid unionized workers (who are nowhere close to being among the super rich who brought us to this point) is the opposite of what is required to do that. There is now 30 years worth of data from the US (and Canada) to bear that out. With the help of articles like yours the super rich will not only get bailed out for a crisis they created but then cash in again by further weakening unions.

Joe Emersberger
Fri Nov 21, 2008 3:21 am
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