Thursday, May 07, 2009

How Do I Know That the Chrysler Bailouts are About the Unions?

Megan McArdle reports:
we could have taken the $8 billion or so we gave to Chrysler and given every one of the company's employees $133,000 to start their own War on Poverty, while still providing much of their pensions through the PBGC. Of cours, the new Chrysler is going to cut many of those jobs, so the cost of actual jobs saved will probably top $200K per. For as long as the company lasts.
Stealing money from the taxpayers to fund these rent seekers.