Tuesday, February 14, 2012

Romney - Finger in the Wind

If one reads his Op-Ed decrying Obama Auto-bailout one can see how sheer ideological blindness prevents GOP candidate Romney to aim for downfall of American workers. Obama Auto-bailout policy is one of the few policy successes of Obama Administration. GM and Chrysler are saved companies which are back on their feet and making profits, making cars wanted by Americans and in rest of the world too. Not only it has allowed American grown automobile companies to retain their relevance in globally competitive industry, it has retained direct jobs in these companies as well as in many indirect jobs. What is there not to like unless you have your purity test?

Romney's gripe is:
- Obama bailout helped Unions,
- Non-unionized Labor lost jobs,
- Chrysler bond holders got haircut.

Unions took many pay cuts, accepted pension in the form of GM stock and their health benefits were drastically rationalized too. After that union remains, then what is your problem man? Except of course, Wisconsin Governor Walker style ideological blindness to unions. Romney can continue to argue that we still need rationalization of excessive union bargaining at these auto companies if they were to remain globally relevant and competitive. But that is not the argument he makes. He is just wants unions to be demolished and he feels bad that Obama Government gave them a hand. All this means, it is all OK if workers loose job; but my ideology must be adhered. How myopic!

Since when Romney started to worry about non-unionized Labor? Wait a minute, was he not the one doing same things at Bain Capital while earning millions for himself - rounds and rounds of layoff of both unionized and non-unionized labor? So then why this blame to Obama Auto-bailout when some jobs were lost to save others. Otherwise both unionized and non-unionized jobs would have been lost.

Same thing with bond holders getting haircut. Whole of private equity driven corporate raid and revival is based on bond holders, share holders and workers getting haircut so that few 'corporate raiders' like Bain Capital would benefit. Besides, if Bain Capital was one of the equity holders of GM and Chrysler; it would have been pleading with Government to provide those bailout dollars!

Ya, Romney has been opposing bail-outs since 2008. But all that means is the guy has not learned anything and refuses to see 'what works, what does not'; but goes with a blind ideology which can proverbially please conservatives. But in the end many of these conservative voters would be more happy to have money in their pockets rather than following someone's ideological trips. After all it is about their life and their survival. No wonder, more and more voters are basically turning away from Romney. He is just a pile of incoherent policy prescriptions to please what he thinks conservative voters wants. So disconnected from the reality and very opportunistic. 

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