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I posted the perverted auto bailout scenario earlier because I thought it was contemporary, funny and I couldn't help myself. But there is an insidious, definately not humorous, element that is damaging our best ability to cope and work together with this present economy.
CDC is making a good point regarding the press sensationalizing information that is probably little more than idle speculation. He's in a position to view from the inside. Really, he's doing not much different than I did when I tried to point out that actual UAW costs were probably categorically overblown by media in another thread. Hard to prove either way without an accounting audit, though.
Some bonuses will no doubt be paid, but as CDC says they are probably already prewritten "wage" agreements as part of the ordinary usual compensation in this field. Remember, those of you that read it, Jamo emphasized that wages must be paid first (" ...pension obligations are right behind taxes and wages in BK priority.") Bonuses are also hard to prove as "already written" either way without an accounting audit.
Most folks on Wallstreet are as American as the next guy and sure don't want to see the primary world financial marketplace move overseas ...along with their good jobs. Nobody in any American sector wants this and we are all in it together whether we like it or not.
In the future there will be more public oversight and open "proof". But for now the common sense proof, the circumstancial evidence, is that the media, sometimes as a political shill, sometimes just for saleability, tends to regularly blow stuff out of proportion.
Believe nothing you hear and only half of what you see, now more than ever.
Wes
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