GM/Chrysler - Jobs Lost & Future Taxpayer Obligations

When does taking from taxpayers stop? I heard over the weekend that there is a bill in the lame duck to make taxpayers responsible for all the GM / Chrysler pension obligations.

It sounds like a great idea. Folks making minimum wage (without pensions) making good on pensions for $120,000 union retirees. Wow...what a deal.

What of the other folks that have lost pension over the years? What do they get? Nothing? 401K they invest themselves? Why should autoworkers get something better than the minimum wage worker? Why should this expense be loaded on the back of today's workers?

I guess there will be a lot of savings coming from Obamacare. How many Obamacare workers will it take to pay for the gold standard autoworker 'reinsurance' benefit under Obamacare? 10? 100? 1000?

Quote

Former car czar fined $6.2M US
Last Updated: Thursday, November 18, 2010 | 2:43 PM ET Comments52Recommend34
CBC News

Former White House car czar Steven Rattner, who helped lead the U.S. presidential task force that restructured General Motors and Chrysler, has agreed to pay $6.2 million US to settle federal charges he paid kickbacks to New York state pension officials.

Read more: http://www.cbc.ca/money/story/2010/11/18/rattner-settles-sec.html#ixzz16f9ynReM

Where did all the union pension and healthcare money go? Why not follow the money and claw it back? Maybe it's like the mortgage industry - they make money on fees, not on producing sound business?

Quote

The money Rattner is paying to settle the charges represents a fraction of his own wealth. He reported net worth last year of between $188 million and $608 million. But banning him from the industry, even temporarily, could greatly limit his earning potential.

Read more: http://www.cbc.ca/money/story/2010/11/18/rattner-settles-sec.html#ixzz16fALZUB2

Maybe this is the kind of capitalism socialists want to end?