If my sacrifice can save one UAW worker from discomfort, it's all worth it!
You’ll end up in a cardboard box on the street, but you’ll be warmed knowing that your tax dollars – $165 billion and climbing – went to reward the unions who supported Obummer. This is how liberalism works: the wise and beneficent take from the greedy and redistribute to the deserving. Got that? Now stop complaining!
Advertisement
“The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.”
I call bull—.
Help people (not me), maybe. Save jobs? Not a chance.
Given the much-publicized, abusive practices of SEIU and other govt unions, and fact that ~75% of workers aren’t members of these privileged unions with lavish pay and pensions, look forward to a backlash among angry voters….intra-class jealousy is often a wonderful thing esp when union-pandering commies are voted out of office
From a daily research note put out by David Rosenberg at Gluskin Sheff in Toronto (formerly of Merrill Lynch):
“As a sign of just how sick the housing market really is, almost all (that is nearly 100%) of the mortgages issued last quarter were insured by the government under Fannie, Freddie and the FHA. In fact, FHA lending ($52.5 billion) actually exceeded the combined volume of government-supported Fannie Mae and Freddie Mac ($46 billion) in a home-lending market that’s still a “government-financed market,” David Stevens, the agency’s head, said today at a conference in New York, citing research by consultant Potomac Partners. “This is a market purely on life support, sustained by the federal government,” he said at the Mortgage Bankers Association conference. “Having FHA do this much volume is a sign of a very sick system.” And you thought we were bearish on the real estate backdrop. Page 10 of 13
And the strains are not limited to the single-family market. Defaults on apartment-building mortgages held by U.S. banks climbed to a record 4.6 percent in the first quarter, doubling from a year ago. This already exceeds the 3.4% S&L-induced peak seen in 1993.”