Once again, Ralph Nader is sounding the alarm as the Dems and their union allies seem willing to let multinational corporations screw the country over.
President Obama (via Ratner's auto task force and Treasury Secretary Geithner) is about to let GM and the auto industry seek "financial viability" through bankruptcy. Once that happens, Congress loses control and -- as Ralph suggests and others like the Nation's John Nichols and William Greider have also noted -- that means the industry could be allowed to restructure their operations so that they end up relocating the vast bulk of their production operations to China.
Mainstream financial journalists like Allan Sloan are now picking up on this scam, asking how it is that we seem to be using taxpayer money to rescue the U.S. auto companies, rather than restoring the U.S. auto industry.
What about all the blather about how the bailout was going to preserve jobs?
It's often not polite to question the unions' role in liberal company, but you gotta wonder where the UAW is on all this? Aren't they in effect selling their current and future members' jobs out for a slice of company equity that they'll end up selling to cover the retirees' pensions? Are they as short-sighted as that?
The game is almost over -- unless more than a few members of Congress have the guts to block the auto industry task force from going to bankruptcy court before there's a full vetting of these issues.