November 20, 2008
Feeding the Big Three Pigs
Well, it probably was inevitable.
Once the likes of Lehman Brothers and AIG
insurance demonstrated that all you had to
do to receive billions of dollars from the
federal government was to implement an
unsustainable business model, maintain vast
numbers of talentless and overpaid hacks in
senior management positions, and produce
poor-quality products that nobody needs or
wants, it was a given that General Motors,
Ford and Chrysler would necessarily be next
in line.
Sure enough. Right on cue, the bloated,
overfed ticks occupying the chairman’s
corner office at each of these mouldering
enterprises has shown up on Capitol Hill
with a tear in their eye and doctored books
in their hands, spewing jeremiads of job
losses and economic ruin and pleading for a
nice long suckle at the public teat. Left
less than sated by $25 billion in recent
loan guarantees for the development of
ecologically friendly vehicles, the Motor
City parasites are back begging for another
$25 billion to subsidize their continued
manufacture of the inefficient, ugly,
fuel-swilling and unreliable vehicles that
are their stock in trade, all the while
muttering dark warnings of the dire
consequences to the economy should their
pleas fall on deaf ears.
There’s nothing like emotional blackmail to
spur a reactionary legislative branch into
action, and few Democratic congresspersons
are likely to relish the prospect of legions
of newly unemployed auto workers screaming
for revenge during the 2010 election cycle
should the bailout, and subsequently one of
the “Big Three,” fail. Republicans, on the
other hand, are drooling at the prospect of
a major auto firm – not incidentally,
hailing from a Democratic-governed state –
landing in Chapter 11.
With one stroke, the “bankrupt” automaker
would be free to bust its unions, void its
contracts and complete the process of
relocating the entirety of its production to
Mexico, with the ruination of the American
middle class as the booby prize for
fulfillment of their laissez-faire fantasy.
There are few prospects less palatable than
the shoveling of still more public cash into
the gaping maws of these most swinish and
socially irresponsible of firms, especially
when taking into account the idea that the
likes of GM’s Rick Waggoner, a man
responsible for the loss of countless jobs
and the ruination of an equal number of
lives, will not only benefit financially as
a result, but feel at least a twinge of
wholly-undeserved happiness. Nonetheless,
one salient fact remains: Bailing out the
automakers isn’t about saving the ossified
car companies themselves. It is about
preserving what is left of unions and the
last vestiges of America’s manufacturing
capabilities. It simply must be done.
A few fine-print caveats, however, should be
entertained before the first public dime
reaches GM’s coffers:
1. Ownership of all physical assets, inclusive of factories
and offices, should be transferred to the
federal government and leased back to the
firms on a for-profit basis;
2. A mandatory 10-year zero layoffs policy should be
introduced;
3. Bailout funds should be in the form of a “mass transit
Marshall plan.” The (former) automakers
would be charged with re-engineering and
retooling their operations for purposes of
developing and implementing next-generation
mass transit solutions, including high-speed
rail;
4. The onset of the bailout program would mark the beginning
of a mandatory 15-year phase-out of the
manufacture of petroleum-consuming internal
combustion engines;
5. Bailout recipients shall be legally precluded from any
petition for bankruptcy protection.
Likely? Hardly. The same federal government
that fell all over itself in its rush to
hand $700 billion to career corporate
criminal Henry Paulson with which to line
the pockets of his financial industry
friends is hardly likely to treat the Pig
Three with anything other than genuflecting
deference, opening the public trough as far
and wide as possible for them to root and
snuffle in.
Standing up for the rights of American
taxpayers or workers, let alone adherence to
principle, simply isn’t in the cards. But as
the automakers roll languidly in the beds of
cash destined to be bestowed on them, in
return for their kindly refraining from
dynamiting what remains of the American
economy and manufacturing base, it should be
remembered that each and every dollar
feathering their beds represents food out of
the mouth of a hungry child, health care
denied to a sick person, and a family facing
foreclosure without recourse. Crime may not
generally pay, but when it comes to Big
Three blackmail, restrictions most certainly
apply.
©
2008 North Star Writers Group. May not
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