Geithner says it’s Wrong to Cap Bankers Bucks. It’s WROOOOONG!

by Scott Creighton
Well, it’s official; there will be no caps set on the salaries of the CEO’s and top officials of the banks that received TARP funds.  That, according to Team DLC Obama™ Brand, would just be wrong. “It’s wrooong!”

Barack Obama is Not “the greatest man of our generation”

by Scott Creighton
Recently I communicated with someone I knew from a previous life; back when I had a future.  This friend is a liberal and an accomplished artist who is committed to the craft of his work and the teaching of others who are lucky enough to learn from him.  “A Life in the Theater”; [...]

What’s good for GM…

by Jerry White, WSWS
The bankruptcy of General Motors is a major turning point in the history of economic and political life in the United States.
The industrial giant—once the largest and most profitable enterprise in the world—defined American capitalism for much of the 20th century. Its massive presence in the US economy inspired the famous 1953 [...]

Obama administration targets the working class

by Patrick Martin, WSWS
In compelling GM to file for bankruptcy, Obama is giving the signal to all of corporate America to attack the jobs, wages, pensions and health benefits fought for by working people in the course of more than a century. The full power of the US government is being used to set an [...]

Chrysler workers oppose more concessions

“He was a Trojan horse…”

For the woman at the end of the video, for her and all the UAW workers who don’t know what their future holds, I made the following cartoon when I read your comment “He was a trojan horse…” in an article at WSWS a couple days ago [...]

Obama’s auto task force: a collection of Wall Street investors and asset strippers

by Jerry White, WSWS
President Obama’s auto task force has a March 31 deadline to approve updated restructuring plans by General Motors and Chrysler LLC under terms of the federal loan agreement. The task force—which has the power to revoke the loans and has not ruled out the use of the bankruptcy courts—is pressing for sharp [...]

General Motors to Invest $1 Billion in Brazil Operations — Money to Come from U.S. Rescue Program

Russ Dallen, Latin American Herald Tribune
General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer [...]

“Everyone is Going to Have to Give”; Obama™

by Scott Creighton
“…everybody’s going to have to have some skin in the game…”
Tomorrow, Obama™ is going on “This Week” with host George Stephanpoulosas part of Obama™’s product roll-out for his stimulus package, a.k.a. the Retro-Reaganomics Big-Business Give-away Plan.  There is a little teaser up on ABC’s site, written by ‘Poulosas himself.
During this interview, Obama™ is [...]

Pay cuts, layoffs mount in US

By Tom Eley,  WSWS
The US government loans to the auto industry, conditioned on a massive attack on the wages and jobs of auto workers, are being used as a spearhead for broader attacks on the working class throughout the country. This attack has already begun, with numerous companies recently announcing pay cuts and layoffs for [...]

and It’s a Deal… “Just Give Us The Rest of the TARP”… Paulson

***UPDATE*** – As I predicted, it seems that they are using this auto-industry bailout to justify pushing for the rest of the TARP money.
Treasury Secretary Henry Paulson said Friday that Congress will need to release the last half of the $700 billion rescue fund …Paulson said the use of the rescue fund to provide [...]