And how many jobs were saved by that? The whole point was avoiding Chapter 7 bankruptcy. The unions took on employee healthcare and other one-time employee benefits in negotiations with automakers in 2007—that’s a huge responsibility. In return, the automakers go bankrupt, thousands of jobs are lost, the unions disappear and so do retiree benefits. The only people that win in that situation are who, privileged folks? Why is that good or better? Why is that capitalism?
Workers take it on the chin all the time. I have yet to see the “right” in that. The bailout just asked privileged folks to take a cut too.