Saturday, September 18, 2010

Was politics behind the government's decision to preserve the UAW's pensions?

Link

Um. You think? Let's see. Salaried workers, retirement plan, promised pension...result? Fraction of promised benefits. Retired UAW hourly employees, retirement plan, promised pension...result? Hey! They get full retirement, paid in part by the government bailout! Key question I would love to see answered: "[W]hy did the administration make pension obligations to the UAW sacrosanct in the first place?" Bankruptcy could just as easily have vacated the obligation.

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