Why are these questions re: honoring contracts of the bankers and allowing new rounds of billions in bonuses paid to bankers being heard here once? Why are these questions not being pursued up the line through the mainstream media and put to Obama? It's like we hear it here and then poof, that's the last we hear of it...
"The Middle class is dying....Our tombstone will read: OUTSOURCED"
And what really floors me are American idiots who claim unions are "evil" and applaud when unionized jobs are destroyed. The very institutions that built the American Middle Class. They're cheering the destruction of the fucking things that allowed them to live in Jackoffville, Suburbia. Fucking morons. Enjoy your non-unionized $13/hour job with no pensions, healthcare or retirement. They'll replace you in 3 years anyway.
It makes sense to me that the court chooses to honor first those contracts in which the other contracting party has already fulfilled their obligation and not honor ones in which neither side has. Chrysler's creditor have fulfilled their side of the deal by giving Chrysler money, while UAW workers have not done the contracted work yet, thus the creditors come first.
@AdamSmith04 You mean owners. That's funny, considering we are a consumer based economy. If you cut the consumers spending power, you will not see growth.
Why doesn't GM just open factories in China or Mexico and close the US factories. That way they don't have to pay UAW union wages and benefits. That way they would be profitable and cars would be much less expensive.
GM builds cars that compete for market share with other GM products, (ie; Chevy Impala vs. Pontiac G8 vs. Buick Lucerne, etc...)? The big 3 all do it. If they're serious about future viability, they've got to sell or close some of their brands. That going to mean union concessions and job losses.
I have a dozen family members working on the line at GM- aunts, uncles, cousins. My grandparents used to work there, also. I don't want them to loose wages/benefits, nor do I want GM to fold.
These ppl used to be the backbone of our country...now they are just leaches. They suck money out of the economy and never put it back. Most of it is invested in China and Mexico/South America while they lay off American workers and feed the top 1% of our nation. The Middle class is dying....Our tombstone will read: OUTSOURCED
Remember people.. as hopeless as this all may seem, these executive assholes running the country NEED you to keep the country going. What would they do if one day every American just stopped coming to work? All of their power over you would vanish in an instant... please please please remember: They need you to succeed, and since it's obvious they want to bankrupt America, bankrupt them first.
He should be called the Young Knob. If G.M. goes into bankruptcy, management can use the U.A.W. workers contracts for toilet paper. Same with the evil banks.
Hey guys we Ron Paul/Kucinich guys told ya this would happen. People deserve this, you keep voting for the CFR/Banker Oligarch own politicians. You reep what you sow.
Ron Paul/Dennis Kucinich are political hacks who have been sucking at the public teat for years. Keep sending them your money because Ron's son "Peggy" has a boat payment coming up.
Dennis Kucinich is a pantywaist who projects weakness. Ron Paul is the same. Pee Wee Herman could kick their asses. They run for president every four years to provide some comic relief.
Ron Paul and Dennis Kucinich are two political pantywaists. Dennis dropped out of the primaries last year when he thought there was a slight chance of him losing his seat in Ohio. Dennis knew he would starve to death if he lost and had to get a real job in the real world. Besides, Americans would never put a sissy in the whitehouse.
I've gotta agree. The teacher's union, for interest, only hurts education and holds the public and school systems by the balls. Unions are supposed to protect the little guy from the big guy. Now the unions ARE the big guy, and something needs to change.
Real mature. Why don't you go dig a hole and stick your head in the ground, since you're obviously incapable of dealing with reality. And so, sir, fuck YOU.
Now you start to see what you voted for Cent. The international banksers fund both parties, top donors of Obama and McCain ! You should have witnessed both Bush and Obama bail out the bankers, with no rules and no end insight ! They have been running things for a long time. Research the private Federal Reserve System.
ever notice that people's pensions never seem to get honored.
by the time they are done printing and borrowing they're way out of this recession our money won't be worth shit anyways. I call the car, who's wants the shoe, the thimble or the battleship anyone.
We need to start thinking up investment banker jokes.
How do you know that an investment banker visited your neighborhood?
The price of gas is $5 a gallon.
How do you know when you are on a date with an investment banker?
The banker convinces you that he/she does not pay full price at this restaurant, orders tons of expensive wine, fails to return from the toilet, and your car gets impounded because the price of the meal is actually whatever the restaurant wanted to charge.
Obama doesn't have any good choices right now. He's making the best of a lousy situation. If Hillary had won, she'd be going through the same sh!t, and so would McCain.......I still prefer Obama as president!
Fox news, Hannity et al. are criticizing Obama today for not demanding that the unions renegotiated their contracts. Cenk et al in the left are criticizing Obama for requiring the unions to renegotiate their contracts.
What's the truth? Both can't be true.
Criticism is good but I'd like to know what the truth is. I'd reserve my criticism until I know the truth.
"I think he's mad about the hypocryisy. If Bonuses are protected by contracts, then the UAW contracts should also stand."
So the right is lying and Obama is asking the unions to renegotiate? You really didn't answer my question.
I'll list it again.:
Fox news, Hannity et al. are criticizing Obama today for not demanding that the unions renegotiated their contracts. Cenk et al in the left are criticizing Obama for requiring the unions to renegotiate their contracts.
you don't know why obama won't stand up to them??? come on Cenk, you're a smart guy, obama was bought and paid for before he one the election, his campaign had NO content, and he's surrounded himself with bankers....did you really think he was fighting for the little guy?
check out John Riches shutten down detroit and the ibuyusa video on you tube the guy has great words. We cant be sheep and spellbound anymore by deceitful politicians, media, and forieign unfair trading countries wich are paying and owning these peoples greedy souls.They are not American Patriots They are about me not We.Support Fair trade Domestic owned. BUY USA on line and at stores. Country First !!!
Corporations are inherently anti-capitalist too... Adam Smith deplored them because they remove that essential connection between independent producers from their own wealth and individual ability to control their essential work and market behaviour ..
Save me your non-sense.
Theoretically, neither corporations nor unions are inherently capitalist. They are both natural responses to free markets. One following our propensities for greed and the other for fairness and justice for labour.
They do need to restructure their UNIONS! The Unions have become an entity of their own and they have left the workers behind...and have started this collapse.
Obama has set the mechanisms in progress to claw the AIG bonuses back through the tax system, so he has been tough on AIG. At this moment the banks are more important than the unions. Money needs to be circulated for investment and wealth creation and that's the function of the banks. Once the money is borrowed then the unions can aid in the wealth creation thru manufacturing, services, etc. Cenk is getting upset for nothing.
er not really bgrawhat old son.... the wall street crooks have managed to get away with it once again...(watch them place the "bonuses" in tax shelters overseas)
they claim they have a "contract" that ensures there "bonuses"
well the UNIONS also have a "contract"
if it was fair then both lots would have there contracts torn up and discarded but it's only the unions that have to suffer this!
ah america the land of rewarding stupidity and incompertance!
Cenk, Obama is continuing what bush started. he is a puppet controlled by the elites. The banks and the military industrial complex run this country. everything else is there to give us the illusion that we have a choice. This is change we all could believe in.....Fascist corporatocracy. Obama isn't doing what he said. Bush was a thug, Obama is a fantastic actor and even better liar.
As a retired UAW, GM autoworker I find it absolutely sickening that the government will reduce my pension when the pensions of Past Presidents continue to be footed by me. They recieve a lifetime pension for at most 8 years of service. They are protected by SS and I pay for it. 30 years and a $2500.00 monthly benefit with reduced benefits and the government feels like that needs to be reduced. But George Bush Sr. gave us 4 years and his son 8 and they will receive hundreds of thousands for life.
Congress has about the same deal. Lifetime pensions even after 1 term. Most politicians are wealthy compared to the average Joe and their pensions are astronomical compared to ours. Lets reduce or abolish Government pensions, that would certanly help the national debt. There is but 1 way to change the course we are on. Peaceful revolt and demonstration. We are Millions and they are few. Our Constitution commands us to abolish any Government that is not FOR THE PEOPLE!! Will any of you be there?
"If the government negotiated a contract with the company for the assistance, then that is different when a company negotiated with its worker."
How so, exactly? The company negotiated contracts with the union workers are null and void. The company negotiated contracts with the bankers are intact. What exactly are you saying, because I honestly can't figure it out.
If it is a case of executive compensation, and they agreeing to government money, and they have a contract, there are legal ramifications if there is any changes to this agreement.
OP Quote: "If the government negotiated a contract with the company for the assistance, then that is different when a company negotiated with its worker."
ME: How so, exactly?
Answer: "If it is a case of executive compensation, and they agreeing to government money, and they have a contract, there are legal ramifications if there is any changes to this agreement."
And how do those ramifications differ than changes to the Union Contract? Your theory is completely invalid.
The corporate media shifts the blame to government for abuses by corporations. Before President Obama can enact legislation going forward the media, which took millions from AIG in ad revenue, tries to act like the President is involved in the AIG fiasco. This is all about trying to derail the President's budget. Cenk the sell out.
What seems to being said is that companies can not restructure compensation packages as part of their restructuring plan. This is part of any reconstructing program. Whether is part of a government bail-out or bankruptcy.
When companies go into bankruptcy court the judge decides on which creditors get paid, and how much they get paid. The only difference here is the mechanism.
The government and workers primary concern should be how to protect the workers pension.
Yeah. I am not the only one who figured this one out. Palin wins, the anti Christ comes, God the fascist comes out of hiding and the republicans go to heaven. NOOOOOOOO!
Listen the unions are responsible for many of their own problems, for decades they opposed campaign finance reform so that they could keep donating money to politicians to curry favors, well the financial industry beat them at their own game, they had more money and where better organized, had the unions not opposed campaign reform then the republicans could not have done what they did
well i guess im stating the obvious by saying If you upset a banker you can get hurt. Here we are getting a glimpse at exactly how powerful the rich are.
Cenk: the simple answer is usually the right one. I voted for Obama too, but "it's all about the money, Lebowski." Somewhere among AIG's contributions to the Obama campaign were strings - invisible or not - that have resulted in this hypocritical treatment of executive bonuses and the plebeian laborers.
DONT READ THIS Cause It Really Works. YOU WILL GET KISSED ON THE NEAREST POSSIBLE FRIDAY BY THE LOVE OF YOUR LIFE. TOMORROW WILL BE THE BEST DAY OF YOUR LIFE. HOWEVER IF YOU DONT POST THIS COMMENT TO AT LEAST 3 VIDEOS YOU WILL DIE WITHIN 2 DAYS. NOW UV STARTED READIN DIS DUNT STOP THIS IS SO SCARY. SEND THIS OVER TO 5 VIDEOS IN 143 MINUTES WHEN UR DONE PRESS F6 AND UR CRUSHES NAME WILL APPEAR ON THE SCREEN IN BIG LETTERS. THIS IS SO SCARY Cuz IT ACTUALLY WORKS THIS reaLLY WORKS
If you're going to promote your pointless showboating at least tell people in which time zone this 8:30 pm is, because otherwise they won't know when to join you.
Also the caps aren't going to convince anyone. You have a better chance if you just explain your goal without shouting.
In hierarchies getting tough with dishonest people gives no manner of traction and is like trying to dance on crap. If you get tough with honest people you might get them to do a super profitable job. But these people are at the base of the hierarchy. A leader can be a dummy and still be a leader if he is useful to an inner circle of schemers, liars, and murderers, who are also leaders. This holds for religious as well as gang or business hierarchies.
Why do people murder one another? They can have an accident during a fit of anger, or it is part of the hierarchal game of status. Normally what will occur is in order to belong one has to show loyalty to group or next level status. People become accustomed to the psychotic nature of being a cog and maybe would like to make a play for more money or status. It's like poker and war.. maybe chess. Every level has different standards for the game. Sometimes top level people murder for power.
Is there a point to your constant disruption of other people's conversation or are you just hoping that if you repeat that non-sense often enough people will start to believe you?
This comment has received too many negative votesshow
Screw unions. When Palin becomes POTUS, she will stop these unions from growing in power and put them out of their misery with the WRATH OF GOD HERSELF.
Look at all the trillions and billions and millions of dollars that are being spent by Obama.
If they REALLY wanted to solve the "bad mortgages", you would give people money to pay them off. If they REALLY wanted the economy to be stimulated, bailing TAXPAYERS out would have this effect.
Why did President Andrew Jackson hate the banks? Because there is an agenda to bankrupt the masses.
To what end? What's the goal of bankrupting the masses? And if there has been a conspiracy for that long then how come the markets picked back up after last century's major crash?
John F Kennedy, Andrew Jackson, Winston Churchill, Abe Lincoln.
What do they have in common?
They all spoke out, about the banking cartel conspiracy.
They ALL knew there was an agenda, that would outlive them and the people pursuing the agenda.
Every single govt agency is incorporated. Even Congress/UK parliament is a company. Why? For the purpose of profit and raising revenue from the masses.
Bankrupt the countries and you set the stage for World Government.
First of all I'm still not sure what would be so terrible about a world government that gets people so riled up. If anything I think it could be a major improvement, much like the US government has, if you look at the big picture, been an improvement for the average citizen.
Second, I just don't buy it. I'm sure some bankers are conspiring, but to think it includes the white house? It sounds far fetched and like I said if it's true it's not like they couldn't have done this a long time ago.
First, I would refer you to more research about the quest for World Government (pros and cons).
Second, history has proved (see Nufffrespect's "The President who told the Truth"), Winston Churchill, Abe Lincoln and Andrew Jackson have ALL come up against the banking interests and they are formidable.
All the people I have said above all state that it is a banking conspiracy.
The same arguments are made against all centralization of power. And yes corruption enters in, yes more bureaucracy is inevitably created. But those same arguments were levered against the EU and in the end member states have profited tremendously (even if there is still a lot of room for improvement.)
And I do think we need to guard against corporate and financial interests I totally agree but I think with increasing globalization world government is the only counterbalance that could work.
I dont like this use of 'conspiring', it conveys an idea of words whispered in dark alleys or behind closed doors, an idea of something illegal being commited, whereas in this case AIG managers and their pals were pretty adamant about their contracts not being subject to renegotiation and nobody challenged them politically on that
Well ok I think that's semantics, but whatever. I agree that was a bad deal made by what are probably corrupt patsies in government. But you were the one that linked it to world government and that somehow Obama was involved. Sounds like a conspiracy to me.
My point was if we want to counter the corporate and financial stranglehold on the world we need better (global as well as national) government, not less of it. If you leave it up to individual people or countries they will get steamrolled.
I was the one to link what to what?! I think u are mistaking me with some dude u were arguing with when I cut in... anyways, I agree on the second part
i know why Obama wont stand up to the, thats because hes a fraud.
I see myself solowing moving away from the liberal democratic party and moving to independent/libertarian side. I have finally realized that the solution is not with the dem or rep, i just wonder how long it will take the masses to realize this
I am not advocating murder. I am saying white collar crime should be a capital offense. Even if Bernie Madoff is sentenced to 150 years, that is only one day per million dollars he stole. I am willing spend a day in prison for a million dollars.
Until we begin executing these bastards there is no disincentive to steal billions.
Okay - this is more like it ... 'white collar 'crims (I think this is a misnomer to start with) actually do MORE damage because their activities affect HUGE numbers of people - directly and indirectly - as opposed to 'felons' but they serve proportionally, less severe sentences. I am sick of these swine feeding at the trough and skating on criminal enterprises
Lower the CEO's salaries and benefits by HUGE SUMS.
If possible - make the CEO's return to the companies some of the money they have been taking from it.
If possible - suggest gently to the CEO's thay they sell to the companies for 1 dollar some of their (the CEO's) own assets, and let the comapny sell them to who they see fit for their ACTUAL VALUE.
Boy, you're going to see a whole lot of money coming into the companies then.
That will in fact enable the comanies to renegotiate the workers' contracts - IN ORDER TO RAISE THE WORKERS' SALARIES AND BENEFITS from which they have been donating for years (into the pockets of their poor poor CEO's).
Excxellent. You can also watch Thom Hartmann's video talking about the different standards for white collar workers and blue collar workers.
There is one point in which I disagree with what Cenk says - I believe the auto workers contracts DO NOT need renegotiating. The way I see it the auto makers CEO's take salaries and benifits way too big out of the companies. Also they own things worth God knows how much.
This sucks big time. These Auto execs roll up in Washington a few months back in their private jets and hand tailored suits crying poor and looking for handouts...now the government is telling the working men and women to pull their belts in another notch. Bullshit. Write your Congress representative and tell them what you think of this bullshit. These asshole are pigging out and living high while honest hard working folks are being thrown out of their homes and scraping for a living.
this is bullshit people no 2nd term for obama, repubs and dems both suck. time for everyone to start voting third party. fuck the repubs and dems both.
we see now how much the dems really want to help us middle class and the poor
this makes sense the little guys gets fuckkkkkked..
I am a Obama supporter...but not seeing the help he promised. I knopw that the nation he inhereted is so messed up we should literally scratch it all and start over. Up hill battle to say the least BUT I think this is a HUGE mistake for him to not stand up to the assholes that want to honor the contracts of fat cats but not Union workers .....He is so gonna need them and the rest of the peasants to keep his job.
You do know that that the GM Impala is the number one car in the classification. The Ford F-150 is the the number one truck.
Honda and Ford are the top two in quality and Toyota is number 3. Also Ford workers are the most productive out of all car companies. You can look this up.
Ford also has the number one selling vehicle in these dire times and that is the F-150 also Ford Taurus/Sable is the number one selling call of all time.
okay, well the problem is the only people who buy trucks are some americans and some canadians. if you go to europe, or most any other places in the world they do not drive gas guzzling pick-up trucks to drive around the city and/or suburbs in. so yes, the best selling truck is a ford... but nobody buys trucks. The profit they do make from the trucks is being used to pay workers who retired years ago to go to the hospital and so on and so forth.
I don't really know anything about economics or business management, but if they could do this they should atleast make some sorta promise to rehire the same workers they lay off now pending the recovery of the companies.
Autoworkers did have it pretty good for awhile with the unions as a bargaining partner. Autoworkers actually made something of worth. It was a concrete product. Bankers and wall street make their money by stealing and moving figures around on a spreadsheet.
I knew Cenk was gonna use this issue sooner or later as a hanging point, the only problem with the view point that Cenk is using it the following:
The Pay of employees at AIG/BOA/CITI was not a major contribution to their collapse... but the lifelong pension contracts & rate of pay HAS DEFINATELY contributed to GM/FORD/CHRYSLERS demise...
If u don't know that then show ur contributing evidence cause I have mine
I know it makes ppl feel better to complain but place blame accurately
The pay of upper management at AIG/BOA/CITI WAS a factor. Why? Because their pay and bonuses were based on short terms gains in profits, like the next quarter or the next year to date. So they made all these crazy gambles because they knew their next paycheck or bonus or retirement package would be dozens of millions of dollars with short term gains. Greed for more salary was definitely a factor in the collapse of these companies.
fuck all union scum
biggerturtle 1 year ago
This has been flagged as spam show
Heck out the thousands of profiles for Naughty women mworld5.info
MARITZASTACY 1 year ago
lol he's an idiot american who finally understand what us africans have known for years even decades.
cobolt02 1 year ago
Why are these questions re: honoring contracts of the bankers and allowing new rounds of billions in bonuses paid to bankers being heard here once? Why are these questions not being pursued up the line through the mainstream media and put to Obama? It's like we hear it here and then poof, that's the last we hear of it...
personalperspective 2 years ago
fuck government interaction in the market and fuck companies that keep losing money. we dont need neither and we'll be perfectly fine
wtfbroskie 2 years ago
GM should of bankrupted and then moved to non-union states 20 years ago. WTF were they waiting for?
calimar28 2 years ago
This has been flagged as spam show
"The Middle class is dying....Our tombstone will read: OUTSOURCED"
And what really floors me are American idiots who claim unions are "evil" and applaud when unionized jobs are destroyed. The very institutions that built the American Middle Class. They're cheering the destruction of the fucking things that allowed them to live in Jackoffville, Suburbia. Fucking morons. Enjoy your non-unionized $13/hour job with no pensions, healthcare or retirement. They'll replace you in 3 years anyway.
A86 2 years ago
Comment removed
A86 2 years ago
It makes sense to me that the court chooses to honor first those contracts in which the other contracting party has already fulfilled their obligation and not honor ones in which neither side has. Chrysler's creditor have fulfilled their side of the deal by giving Chrysler money, while UAW workers have not done the contracted work yet, thus the creditors come first.
AdamSmith04 2 years ago
@AdamSmith04 You mean owners. That's funny, considering we are a consumer based economy. If you cut the consumers spending power, you will not see growth.
Darkconis 1 year ago
Bankruptcy happens when a company can't meet their contracted obligations. The court has to decide which contracts can and cannot be keep.
AdamSmith04 2 years ago
Hi guilty whites!
donottake 2 years ago
Why doesn't GM just open factories in China or Mexico and close the US factories. That way they don't have to pay UAW union wages and benefits. That way they would be profitable and cars would be much less expensive.
kymystic65 2 years ago
I also want to add to my comments below: the pain of this recession should be spread around.
Executives shouldn't ask for wage roll backs unless they're willing to take a cut by the same margin(s), and forget about receiving bonuses.
Union bosses should also look at cuts within the union itself, to enable a reduction in dues for workers.
nosuchtruth 2 years ago 2
GM builds cars that compete for market share with other GM products, (ie; Chevy Impala vs. Pontiac G8 vs. Buick Lucerne, etc...)? The big 3 all do it. If they're serious about future viability, they've got to sell or close some of their brands. That going to mean union concessions and job losses.
I have a dozen family members working on the line at GM- aunts, uncles, cousins. My grandparents used to work there, also. I don't want them to loose wages/benefits, nor do I want GM to fold.
nosuchtruth 2 years ago
These ppl used to be the backbone of our country...now they are just leaches. They suck money out of the economy and never put it back. Most of it is invested in China and Mexico/South America while they lay off American workers and feed the top 1% of our nation. The Middle class is dying....Our tombstone will read: OUTSOURCED
ginko27 2 years ago
Remember people.. as hopeless as this all may seem, these executive assholes running the country NEED you to keep the country going. What would they do if one day every American just stopped coming to work? All of their power over you would vanish in an instant... please please please remember: They need you to succeed, and since it's obvious they want to bankrupt America, bankrupt them first.
Khazule 2 years ago
He should be called the Young Knob. If G.M. goes into bankruptcy, management can use the U.A.W. workers contracts for toilet paper. Same with the evil banks.
balddove 2 years ago
Rusty -- it's nice to see another Ron Paul/Dennis Kucinich supporter.
DillonX 2 years ago
Hey guys we Ron Paul/Kucinich guys told ya this would happen. People deserve this, you keep voting for the CFR/Banker Oligarch own politicians. You reep what you sow.
Rustyshackleford08 2 years ago 4
Ron Paul/Dennis Kucinich are political hacks who have been sucking at the public teat for years. Keep sending them your money because Ron's son "Peggy" has a boat payment coming up.
balddove 2 years ago
Oh lord give me a break, they are the only ones worth anything.
Rustyshackleford08 2 years ago
No shit. WFT?!? Guy's a GOP shill, no doubt...
marcomariaz26 2 years ago
Impeach Dennis Kucinich and deport that english dude he is "married" to.
balddove 2 years ago
Impeach?? He tells it like it is! you cannot handle the truth - YOU leave, got it?!??
marcomariaz26 2 years ago
Dennis Kucinich is a pantywaist who projects weakness. Ron Paul is the same. Pee Wee Herman could kick their asses. They run for president every four years to provide some comic relief.
balddove 2 years ago
WTF R U smoking?? PUT DOWN THE CRACK PIPE, NOW!! GET OFF THE CRYSTAL METH, PLEASE!!
To call these two out, we know you're a Rushite watching FOX 247365... LOL.
marcomariaz26 2 years ago
Ron Paul and Dennis Kucinich are two political pantywaists. Dennis dropped out of the primaries last year when he thought there was a slight chance of him losing his seat in Ohio. Dennis knew he would starve to death if he lost and had to get a real job in the real world. Besides, Americans would never put a sissy in the whitehouse.
balddove 2 years ago
Sissy. Takes one to know one, I guess.
Nice try, but try again!!
marcomariaz26 2 years ago
LOL...I thought Cenk was going to pull a Glenn Beck cry session towards the end.....otherwise great video..yet again!
Libitina72 2 years ago
It looks like the half-white messiah isnt doing so hot :D
calimar28 2 years ago
You still think that Obama and the dems are different from the GOP? Both are owned by the CFR.
Are you a Ron Paul man YET?
calimar28 2 years ago
Unions are dead. They are a vehicle of the past and they only run up costs.
Bye unions.
calimar28 2 years ago
I've gotta agree. The teacher's union, for interest, only hurts education and holds the public and school systems by the balls. Unions are supposed to protect the little guy from the big guy. Now the unions ARE the big guy, and something needs to change.
AncelDeLambert 2 years ago
fuck u
orthadox69 2 years ago
Real mature. Why don't you go dig a hole and stick your head in the ground, since you're obviously incapable of dealing with reality. And so, sir, fuck YOU.
AncelDeLambert 2 years ago
the government backed by wall street have strong armed their way into the auto industry.. here is the change we heard about..
freepatriot1776 2 years ago
Now you start to see what you voted for Cent. The international banksers fund both parties, top donors of Obama and McCain ! You should have witnessed both Bush and Obama bail out the bankers, with no rules and no end insight ! They have been running things for a long time. Research the private Federal Reserve System.
zeitgeisthero 2 years ago 2
ever notice that people's pensions never seem to get honored.
by the time they are done printing and borrowing they're way out of this recession our money won't be worth shit anyways. I call the car, who's wants the shoe, the thimble or the battleship anyone.
rockinpeace999 2 years ago
We need to start thinking up investment banker jokes.
How do you know that an investment banker visited your neighborhood?
The price of gas is $5 a gallon.
How do you know when you are on a date with an investment banker?
The banker convinces you that he/she does not pay full price at this restaurant, orders tons of expensive wine, fails to return from the toilet, and your car gets impounded because the price of the meal is actually whatever the restaurant wanted to charge.
emawerna 2 years ago
Well said Cenk!
MercifulMing 2 years ago
Gee Cenk, you and your followers told us that
Obama was "God" and that Hillary was "evil".
Strange how the "progressive" Obama is playing ball with the big banks while telling the UAW to drop dead.
Let AIG go to the bankruptcy courts and let them sort out that mess.
Obama is setting his fate to that of a one term wonder like Carter. Sad.
MeritisDE 2 years ago
buyer's remorse (if that is possible). So much swooning can affect the brain you know.
whispersinmorn 2 years ago
Obama doesn't have any good choices right now. He's making the best of a lousy situation. If Hillary had won, she'd be going through the same sh!t, and so would McCain.......I still prefer Obama as president!
ver506 2 years ago 2
BINGO! I still prefer Obama as president, too!
mraevirdomil 2 years ago
I'm not sure what you're talking about there Cenk.
The AIG bailout was done by Bush's team. Obama can get tough on them now, but he can't change history.
And which contracts for "bankers" are you referring to?
cored 2 years ago 2
Obama won't stand up because he is a fraud. Us Ron Paul followers have been trying to tell YOU STUPID OBAMA WORSHIPPERS this A LONG TIME AGO.
You voted for him! Nader got my vote.
vsbcompany 2 years ago
It's about time this Turk is waking up to Obama.
vsbcompany 2 years ago
Does that mean I will finally be able to get an American made car without an Obama campaign sticker as standard equipment.
NiemandBinich 2 years ago
Fox news, Hannity et al. are criticizing Obama today for not demanding that the unions renegotiated their contracts. Cenk et al in the left are criticizing Obama for requiring the unions to renegotiate their contracts.
What's the truth? Both can't be true.
Criticism is good but I'd like to know what the truth is. I'd reserve my criticism until I know the truth.
dluviam 2 years ago
I think he's mad about the hypocryisy. If Bonuses are protected by contracts, then the UAW contracts should also stand.
johnedwards1968 2 years ago 2
"I think he's mad about the hypocryisy. If Bonuses are protected by contracts, then the UAW contracts should also stand."
So the right is lying and Obama is asking the unions to renegotiate? You really didn't answer my question.
I'll list it again.:
Fox news, Hannity et al. are criticizing Obama today for not demanding that the unions renegotiated their contracts. Cenk et al in the left are criticizing Obama for requiring the unions to renegotiate their contracts.
What's the truth?
dluviam 2 years ago
you don't know why obama won't stand up to them??? come on Cenk, you're a smart guy, obama was bought and paid for before he one the election, his campaign had NO content, and he's surrounded himself with bankers....did you really think he was fighting for the little guy?
fattonyd232 2 years ago
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check out John Riches shutten down detroit and the ibuyusa video on you tube the guy has great words. We cant be sheep and spellbound anymore by deceitful politicians, media, and forieign unfair trading countries wich are paying and owning these peoples greedy souls.They are not American Patriots They are about me not We.Support Fair trade Domestic owned. BUY USA on line and at stores. Country First !!!
bestwayusa1 2 years ago
im not american but i would love to see cenk go into politics, would make some real change
leddyeire 2 years ago 3
Everything is clicking over just as it was scripted. U just have to find the script. Look at The Big Picture
Chewy240284 2 years ago
we found the script just no ones got the balls to change it
SFSylvester 2 years ago
The reason unions fail is because they are inherently anti-capitalist in nature. That's why Card Check will fail.
ObamaWatch1212 2 years ago
Corporations are inherently anti-capitalist too... Adam Smith deplored them because they remove that essential connection between independent producers from their own wealth and individual ability to control their essential work and market behaviour ..
Save me your non-sense.
Theoretically, neither corporations nor unions are inherently capitalist. They are both natural responses to free markets. One following our propensities for greed and the other for fairness and justice for labour.
felixcommi 2 years ago 2
SNAP!
Erdles 2 years ago
which is what he just said
SFSylvester 2 years ago
LOL. Adam Smith, while a very intelligent man must not of understand the concept of LIMITED LIABILITY.
BigWillieStyles1212 2 years ago
They did call Wagoner of GM to the White House to fire him in person though. Heheh.
franksnow79 2 years ago
4) The maniacs in walls street got not only your money and my money, they are continuing to do so without our knowledge or well after the fact
I am tired of seeing the general public get screwed while the rich get richer and make govenment quake in there boots.
Jensagirl 2 years ago
Just a few things here
1) The company contract with is employess is entirely different than a union contract with that company.
2) The union contract can be reworked but it has to be on a national level.
3)Those workers reps bargained for that contract and it must be upheld until another contract can be negotiated.
Jensagirl 2 years ago
Something to look at people:
watch?v=kGSaD76Sw54
Quick what it before some idiot screams communism or socialism again... (rolls eyes)
NookulerFreedom 2 years ago
Obama has to set the tone like he said. Auto workers need there and deserve their money, Screw wall street. Obama get it together!!!!!
ibtnm25 2 years ago 4
They do need to restructure their UNIONS! The Unions have become an entity of their own and they have left the workers behind...and have started this collapse.
WhiteBull 2 years ago
Obama has set the mechanisms in progress to claw the AIG bonuses back through the tax system, so he has been tough on AIG. At this moment the banks are more important than the unions. Money needs to be circulated for investment and wealth creation and that's the function of the banks. Once the money is borrowed then the unions can aid in the wealth creation thru manufacturing, services, etc. Cenk is getting upset for nothing.
bgrawhot 2 years ago
er not really bgrawhat old son.... the wall street crooks have managed to get away with it once again...(watch them place the "bonuses" in tax shelters overseas)
they claim they have a "contract" that ensures there "bonuses"
well the UNIONS also have a "contract"
if it was fair then both lots would have there contracts torn up and discarded but it's only the unions that have to suffer this!
ah america the land of rewarding stupidity and incompertance!
grahamkeithtodd 2 years ago
...obama is a republican
MikeRoch6969 2 years ago
Cenk, Obama is continuing what bush started. he is a puppet controlled by the elites. The banks and the military industrial complex run this country. everything else is there to give us the illusion that we have a choice. This is change we all could believe in.....Fascist corporatocracy. Obama isn't doing what he said. Bush was a thug, Obama is a fantastic actor and even better liar.
iluvwine13 2 years ago 6
so true
pointybarr 2 years ago
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ARP7777777 9 months ago
If we want to make labor unions disappear then we have to make the corporate structure (i.e. unions) disappear.
weilandjason 2 years ago
As a retired UAW, GM autoworker I find it absolutely sickening that the government will reduce my pension when the pensions of Past Presidents continue to be footed by me. They recieve a lifetime pension for at most 8 years of service. They are protected by SS and I pay for it. 30 years and a $2500.00 monthly benefit with reduced benefits and the government feels like that needs to be reduced. But George Bush Sr. gave us 4 years and his son 8 and they will receive hundreds of thousands for life.
Krazede 2 years ago 3
Congress has about the same deal. Lifetime pensions even after 1 term. Most politicians are wealthy compared to the average Joe and their pensions are astronomical compared to ours. Lets reduce or abolish Government pensions, that would certanly help the national debt. There is but 1 way to change the course we are on. Peaceful revolt and demonstration. We are Millions and they are few. Our Constitution commands us to abolish any Government that is not FOR THE PEOPLE!! Will any of you be there?
Krazede 2 years ago 4
If the government negotiated a contract with the company for the assistance, then that is different when a company negotiated with its worker.
richardhutnik 2 years ago
"If the government negotiated a contract with the company for the assistance, then that is different when a company negotiated with its worker."
How so, exactly? The company negotiated contracts with the union workers are null and void. The company negotiated contracts with the bankers are intact. What exactly are you saying, because I honestly can't figure it out.
ibwilliamsi 2 years ago
If it is a case of executive compensation, and they agreeing to government money, and they have a contract, there are legal ramifications if there is any changes to this agreement.
richardhutnik 2 years ago
OP Quote: "If the government negotiated a contract with the company for the assistance, then that is different when a company negotiated with its worker."
ME: How so, exactly?
Answer: "If it is a case of executive compensation, and they agreeing to government money, and they have a contract, there are legal ramifications if there is any changes to this agreement."
And how do those ramifications differ than changes to the Union Contract? Your theory is completely invalid.
ibwilliamsi 2 years ago
The corporate media shifts the blame to government for abuses by corporations. Before President Obama can enact legislation going forward the media, which took millions from AIG in ad revenue, tries to act like the President is involved in the AIG fiasco. This is all about trying to derail the President's budget. Cenk the sell out.
stanjz 2 years ago
What seems to being said is that companies can not restructure compensation packages as part of their restructuring plan. This is part of any reconstructing program. Whether is part of a government bail-out or bankruptcy.
When companies go into bankruptcy court the judge decides on which creditors get paid, and how much they get paid. The only difference here is the mechanism.
The government and workers primary concern should be how to protect the workers pension.
omiteru 2 years ago
Looks like Palin might win 2012 after all!
FitoSaav 2 years ago
Aren't the world suposed to end in 2012?
DirtyBadger13 2 years ago
Yeah. I am not the only one who figured this one out. Palin wins, the anti Christ comes, God the fascist comes out of hiding and the republicans go to heaven. NOOOOOOOO!
Hamhark98 2 years ago
Listen the unions are responsible for many of their own problems, for decades they opposed campaign finance reform so that they could keep donating money to politicians to curry favors, well the financial industry beat them at their own game, they had more money and where better organized, had the unions not opposed campaign reform then the republicans could not have done what they did
tico8007 2 years ago
well i guess im stating the obvious by saying If you upset a banker you can get hurt. Here we are getting a glimpse at exactly how powerful the rich are.
tetranoob 2 years ago
this guy makes a lot of sense. more people need to listen so that people in places of authority can catch wind.
chocbear1028 2 years ago
We need a workers revolution! Stand up to fascism!
movieguystarraisin 2 years ago 2
Fascism Sucks!
poetderekstevens 2 years ago 2
Obama sucks balls on this one, Jesus!
enumkam 2 years ago
Jenk,
Your waking up! Yeah ! Join the revolution..
Take the red pills they work...
lookingforghosts 2 years ago
It's Cenk
CrocodileMonkey 2 years ago
obama is another puppet. wake up while u can.
uheardmebitch 2 years ago 2
lol it's like they're takin the piss now. they're treating you like idiots and soon all the money will be gone.
uheardmebitch 2 years ago
Cenk: the simple answer is usually the right one. I voted for Obama too, but "it's all about the money, Lebowski." Somewhere among AIG's contributions to the Obama campaign were strings - invisible or not - that have resulted in this hypocritical treatment of executive bonuses and the plebeian laborers.
miguelin97223 2 years ago
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petreepistol 2 years ago
It's time for a democratic democracy and get rid of the democratic republic.
pongman 2 years ago 2
Ugh. Government is disgusting.
PhiloCentinel 2 years ago 2
Comment removed
rckon777 2 years ago
If you're going to promote your pointless showboating at least tell people in which time zone this 8:30 pm is, because otherwise they won't know when to join you.
Also the caps aren't going to convince anyone. You have a better chance if you just explain your goal without shouting.
megamarsvin 2 years ago
Its a copy and pasted message dumbass and its the time zone that your in also.
rckon777 2 years ago
Oblamba will only help these people when and if the teleprompter tells him to
pulsar00815 2 years ago
obama is a puppet who is working for wallstreet
infowars . com
Dysic 2 years ago
Sure. How was Bush?
NiteMayr 2 years ago
Funny how the same person that defends CEO multi-million dollar salaries is often offended that a union worker makes $28/hour.
judoyodan 2 years ago
In hierarchies getting tough with dishonest people gives no manner of traction and is like trying to dance on crap. If you get tough with honest people you might get them to do a super profitable job. But these people are at the base of the hierarchy. A leader can be a dummy and still be a leader if he is useful to an inner circle of schemers, liars, and murderers, who are also leaders. This holds for religious as well as gang or business hierarchies.
hypnofan35 2 years ago
Why do people murder one another? They can have an accident during a fit of anger, or it is part of the hierarchal game of status. Normally what will occur is in order to belong one has to show loyalty to group or next level status. People become accustomed to the psychotic nature of being a cog and maybe would like to make a play for more money or status. It's like poker and war.. maybe chess. Every level has different standards for the game. Sometimes top level people murder for power.
hypnofan35 2 years ago
BOTH the GM union contracts and the bankers' contracts need to be HEAVILY re-examined.
PrUnEJuIcEtHeThIrD 2 years ago
contract is a word popularized during the french, by the peasants and the middle class. revolution due to the ideas of JJ Rousseau.
mahyarmohaghegh 2 years ago
th social contract? you got it right on the head
upabittoolate 2 years ago
It's not 'unions' who are being shafted here-lets tell it like it is: it's ordinary people who are getting their wages/pensions shafted.
rickelmonoggin 2 years ago
Domestically speaking, Obama is a TERRIBLE President.
skynet329 2 years ago
correct me if i'm wrong but wasn't it the 1st & largest bailout ratified by bush?
know your history
upabittoolate 2 years ago
Terrible enough that Palin can easily PWN him in 2012.
ecwaufisxtreme 2 years ago
Is there a point to your constant disruption of other people's conversation or are you just hoping that if you repeat that non-sense often enough people will start to believe you?
megamarsvin 2 years ago
This comment has received too many negative votes show
Screw unions. When Palin becomes POTUS, she will stop these unions from growing in power and put them out of their misery with the WRATH OF GOD HERSELF.
ecwaufisxtreme 2 years ago
It's obvious what is going on here, Cenk.
Look at all the trillions and billions and millions of dollars that are being spent by Obama.
If they REALLY wanted to solve the "bad mortgages", you would give people money to pay them off. If they REALLY wanted the economy to be stimulated, bailing TAXPAYERS out would have this effect.
Why did President Andrew Jackson hate the banks? Because there is an agenda to bankrupt the masses.
Obama is carrying that thru.
Accept that, not the media hype.
Tintube123 2 years ago
You wouldn't give it to the people so they could pay them out. You would just pay them out. If you give it to the people they won't all pay it off.
sealsparrow 2 years ago
To what end? What's the goal of bankrupting the masses? And if there has been a conspiracy for that long then how come the markets picked back up after last century's major crash?
I just don't see the point or the motive.
megamarsvin 2 years ago
John F Kennedy, Andrew Jackson, Winston Churchill, Abe Lincoln.
What do they have in common?
They all spoke out, about the banking cartel conspiracy.
They ALL knew there was an agenda, that would outlive them and the people pursuing the agenda.
Every single govt agency is incorporated. Even Congress/UK parliament is a company. Why? For the purpose of profit and raising revenue from the masses.
Bankrupt the countries and you set the stage for World Government.
Tintube123 2 years ago
First of all I'm still not sure what would be so terrible about a world government that gets people so riled up. If anything I think it could be a major improvement, much like the US government has, if you look at the big picture, been an improvement for the average citizen.
Second, I just don't buy it. I'm sure some bankers are conspiring, but to think it includes the white house? It sounds far fetched and like I said if it's true it's not like they couldn't have done this a long time ago.
megamarsvin 2 years ago
Ok, megarmarsvin.
First, I would refer you to more research about the quest for World Government (pros and cons).
Second, history has proved (see Nufffrespect's "The President who told the Truth"), Winston Churchill, Abe Lincoln and Andrew Jackson have ALL come up against the banking interests and they are formidable.
All the people I have said above all state that it is a banking conspiracy.
You just need to look them up.
Tintube123 2 years ago
The same arguments are made against all centralization of power. And yes corruption enters in, yes more bureaucracy is inevitably created. But those same arguments were levered against the EU and in the end member states have profited tremendously (even if there is still a lot of room for improvement.)
And I do think we need to guard against corporate and financial interests I totally agree but I think with increasing globalization world government is the only counterbalance that could work.
megamarsvin 2 years ago
I dont like this use of 'conspiring', it conveys an idea of words whispered in dark alleys or behind closed doors, an idea of something illegal being commited, whereas in this case AIG managers and their pals were pretty adamant about their contracts not being subject to renegotiation and nobody challenged them politically on that
cellardoor70 2 years ago
Well ok I think that's semantics, but whatever. I agree that was a bad deal made by what are probably corrupt patsies in government. But you were the one that linked it to world government and that somehow Obama was involved. Sounds like a conspiracy to me.
My point was if we want to counter the corporate and financial stranglehold on the world we need better (global as well as national) government, not less of it. If you leave it up to individual people or countries they will get steamrolled.
megamarsvin 2 years ago
I was the one to link what to what?! I think u are mistaking me with some dude u were arguing with when I cut in... anyways, I agree on the second part
cellardoor70 2 years ago
Ugh was someone else you're right.. I'm gonna go ahead and blame youtube's stupid comment system so it doesn't look like I wasn't paying attention ;)
megamarsvin 2 years ago
u are getting thumbs down because you said first, and you deserve it
naliuj 2 years ago
Here's why:
Bankers can afford to hire a team of lawyers to enforce their contracts, but the Union workers can't.
So, the government was afraid to cancel the bankers' bonuses because it would have caused hundreds of millions of dollars in lawsuits.
gilbet 2 years ago 6
Get it together Obama
Skip0hsa 2 years ago
i know why Obama wont stand up to the, thats because hes a fraud.
I see myself solowing moving away from the liberal democratic party and moving to independent/libertarian side. I have finally realized that the solution is not with the dem or rep, i just wonder how long it will take the masses to realize this
uche007us 2 years ago
i agree dude. i think the pres got his hands in this fiasco somehow.
DTMTroy 2 years ago
Fu*k these guys.
sighhhhhhhhhhhhhhh 2 years ago 3
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Enio125 2 years ago
the UAW should get restructured but wall st. can bite it too
osp80 2 years ago 2
Indeed
sighhhhhhhhhhhhhhh 2 years ago
This won't stop until we start killing off white collar criminals.
Richardgwm 2 years ago 4
When are you going to start?
CarryANation 2 years ago
I agree we should kill those bastards!!!
matabaca 2 years ago 5
On the one hand agree with you but then who's willing to do time over any of these bastards?
afrosaxxon 2 years ago
I am not advocating murder. I am saying white collar crime should be a capital offense. Even if Bernie Madoff is sentenced to 150 years, that is only one day per million dollars he stole. I am willing spend a day in prison for a million dollars.
Until we begin executing these bastards there is no disincentive to steal billions.
Richardgwm 2 years ago
Okay - this is more like it ... 'white collar 'crims (I think this is a misnomer to start with) actually do MORE damage because their activities affect HUGE numbers of people - directly and indirectly - as opposed to 'felons' but they serve proportionally, less severe sentences. I am sick of these swine feeding at the trough and skating on criminal enterprises
afrosaxxon 2 years ago 2
And get ourselves one step closer to the Chinese penal system once again. We're trying to become MORE civilized not LESS.
megamarsvin 2 years ago
2
Lower the CEO's salaries and benefits by HUGE SUMS.
If possible - make the CEO's return to the companies some of the money they have been taking from it.
If possible - suggest gently to the CEO's thay they sell to the companies for 1 dollar some of their (the CEO's) own assets, and let the comapny sell them to who they see fit for their ACTUAL VALUE.
Boy, you're going to see a whole lot of money coming into the companies then.
avitiltal 2 years ago
3
That will in fact enable the comanies to renegotiate the workers' contracts - IN ORDER TO RAISE THE WORKERS' SALARIES AND BENEFITS from which they have been donating for years (into the pockets of their poor poor CEO's).
I can't understand Obama on that issue.
avitiltal 2 years ago
Wow, maddening and frustrating indeed.
I hoped Obama was different.
Platypus2048 2 years ago
1
Excxellent. You can also watch Thom Hartmann's video talking about the different standards for white collar workers and blue collar workers.
There is one point in which I disagree with what Cenk says - I believe the auto workers contracts DO NOT need renegotiating. The way I see it the auto makers CEO's take salaries and benifits way too big out of the companies. Also they own things worth God knows how much.
So here's my suggestion:
avitiltal 2 years ago
Proliteriate uprising?
orlandrake 2 years ago 4
its happening in london mate. google london protests
jackhartcup 2 years ago
This sucks big time. These Auto execs roll up in Washington a few months back in their private jets and hand tailored suits crying poor and looking for handouts...now the government is telling the working men and women to pull their belts in another notch. Bullshit. Write your Congress representative and tell them what you think of this bullshit. These asshole are pigging out and living high while honest hard working folks are being thrown out of their homes and scraping for a living.
seamoremonster 2 years ago 6
You guys STILL dont get it!
Obama is just a suit... he's just the figure head!
The game is the same... as George Carlin said, "The game is rigged..."...
Doesnt matter who is in the office... they are in fact on the same team...
Learn to think for yourself!
faceclutch 2 years ago 9
this is bullshit people no 2nd term for obama, repubs and dems both suck. time for everyone to start voting third party. fuck the repubs and dems both.
we see now how much the dems really want to help us middle class and the poor
what a crock of shit!!
hellshade2 2 years ago
this makes sense the little guys gets fuckkkkkked..
I am a Obama supporter...but not seeing the help he promised. I knopw that the nation he inhereted is so messed up we should literally scratch it all and start over. Up hill battle to say the least BUT I think this is a HUGE mistake for him to not stand up to the assholes that want to honor the contracts of fat cats but not Union workers .....He is so gonna need them and the rest of the peasants to keep his job.
jaim12005 2 years ago
American cars r shit anyway. crap paint that flakes away, rubber trim falling off, rotten gas mileage
buy foreign
pulsar00815 2 years ago
Speak truth to power. Great show.
Hey Cenk get Matt Taibbi on the show. That guys makes a lot of sense.
saper321 2 years ago
God... Were so Fucked..
GivemHellman 2 years ago
also, american autos are inferior to imports so money won't help them, where as with the banks it's all about fixing the problem with money.
i dont agree with cenk on this one, but fuck those crooks at the banks anyways!
poetik182 2 years ago
poetik: FYI
You do know that that the GM Impala is the number one car in the classification. The Ford F-150 is the the number one truck.
Honda and Ford are the top two in quality and Toyota is number 3. Also Ford workers are the most productive out of all car companies. You can look this up.
Ford also has the number one selling vehicle in these dire times and that is the F-150 also Ford Taurus/Sable is the number one selling call of all time.
pamiety 2 years ago
okay, well the problem is the only people who buy trucks are some americans and some canadians. if you go to europe, or most any other places in the world they do not drive gas guzzling pick-up trucks to drive around the city and/or suburbs in. so yes, the best selling truck is a ford... but nobody buys trucks. The profit they do make from the trucks is being used to pay workers who retired years ago to go to the hospital and so on and so forth.
poetik182 2 years ago
I don't really know anything about economics or business management, but if they could do this they should atleast make some sorta promise to rehire the same workers they lay off now pending the recovery of the companies.
dietsnapple89 2 years ago
This is political suicide. WHYYYYY is Obama listening to Summers and Geithner instead of Axelrod?
GrownupPhan 2 years ago 5
Gr8 clip Cenk keep it up!!
CaptinAggie 2 years ago
My dad works for GM. if GM goes bankrupt hell loose his job. He already got less hours and a pay cut. Were struggling already what more do we need.
6Nutsack9 2 years ago 6
-6Nutsack9
I guess you need to....be a banker.
Autoworkers did have it pretty good for awhile with the unions as a bargaining partner. Autoworkers actually made something of worth. It was a concrete product. Bankers and wall street make their money by stealing and moving figures around on a spreadsheet.
Who's more valuable?
Joxman2k 2 years ago
I knew Cenk was gonna use this issue sooner or later as a hanging point, the only problem with the view point that Cenk is using it the following:
The Pay of employees at AIG/BOA/CITI was not a major contribution to their collapse... but the lifelong pension contracts & rate of pay HAS DEFINATELY contributed to GM/FORD/CHRYSLERS demise...
If u don't know that then show ur contributing evidence cause I have mine
I know it makes ppl feel better to complain but place blame accurately
SCarter45 2 years ago
The pay of upper management at AIG/BOA/CITI WAS a factor. Why? Because their pay and bonuses were based on short terms gains in profits, like the next quarter or the next year to date. So they made all these crazy gambles because they knew their next paycheck or bonus or retirement package would be dozens of millions of dollars with short term gains. Greed for more salary was definitely a factor in the collapse of these companies.
arm747 2 years ago 4