A Very Good Question
You don’t even have to get past the headline and byline to read an excellent question posed by David Lazarus in the LA Times:
Why were Wall Street workers not asked for concessions?
He goes on:
Say what you will about the role of the union in exacerbating Detroit’s financial troubles, one thing stands out: Blue-collar workers are taking it in the shorts as part of their employers’ efforts to secure some bailout bucks from Uncle Sam.
I don’t recall white-collar workers on Wall Street stepping up with similar concessions in return for their companies’ receiving billions of dollars in taxpayer cash.
“There is absolutely no excuse for a bailout without significant sacrifices by all stakeholders,” said Robert Reich, who served as Labor secretary under President Clinton and is now a professor of public policy at UC Berkeley.
“We should be making everyone on Wall Street jump through hoops, not just the automakers.”
Of course, jobs are being cut and bonuses lost throughout the financial world, but that’s more a response to the crisis than an offer from workers to help.
And the question, one more time for good measure:
So why are we holding blue-collar workers to a different standard than their white-collar kin?
Rdan here: Barney, are you listening?