The Auto Industry

Obama today promised to help the auto industry but said they must restructure. Unfortunately, the administrations is being hypocritical and unfair to the workers with their plans. I commend the government for calling out GM and Chrysler on their stupid decisions and recklessness during the last couple of decades. The problem is, what about AIG? What makes AIG any more important then GM or Chrysler. Why are they held to business morals while AIG gets bailout money without any questions asked? This is where the problem comes in, if you are going to get tough with the auto industry (which directly and indirectly employs about 3 million people) then why didn't they get tough with AIG or any other financial company that received financial bailout? I know AIG is completely entangled in the global market, but if they cannot prove that they can be viable and cannot restructure their company (the same demands that are being given to GM and Chrysler) then the government should let them enter bankruptcy they same way they might allow GM and Chrysler to do that.

The other problem is the specific restructuring the government is demanding. The main component of their demands is renegotiating their deals with the labor unions. In simple terms, they want the employees of the car companies, who are struggling to pay their simple bills and keep their house to pay for the debt their bosses created while those bosses have the right to keep their multiple helicopters without being forced to downsize.

Its not fair. Obama says that he is "fighting" for the workers, but I don't see it, it looks like another case of favors to campaign contributors.