If you thought yesterday's post was a little over the top, you should read this memo--or "action alert"--circulated to congressional Republicans on Wednesday, confirming that the reason Senate Republicans opposed the funds to prevent a cascade of catastrophe to the U.S. economy, was union-busting, plain and simple.
The motivation in the memo is pure partisan politics. That doesn't mean there isn't more to it as well. For example, 18 Republicans voted against the $14 billion for two automakers, with all kinds of oversight and strings attached, who also voted FOR the $700 billion bailout of Wall Street financial institutions, with no real oversight or strings attached.
And now we learn that the Federal Reserve is refusing to tell the media, even under the Freedom of Information Act, which institutions they gave some TWO TRILLION DOLLARS to.
Interesting that Republicans and Herbert Hoover were linked twice on Friday. A bit weird that it was by a Republican Senator and the current VP, Dick Cheney.
Bush avoided a market meltdown Friday by announcing that the executive branch will find a way to rescue GM and Chrysler, although no plan has yet been announced. GM announced "temporary" plant closings and layoffs. The media finally woke up to the danger all this represents, at least to some extent.
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