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Monday, December 15, 2008

Under the Radar

Within the cacophony of what is the Auto Bailout, the Banking Bailout, the Blagojevich Blowup and the Obama Blowout, there may be some quiet scandals bubbling below the surface. Scandals that could easily make today’s headlines pale in comparison.

It is quite amusing to watch the UAW, in righteous indignation, proclaim that they have NEVER defaulted on an agreement with U.S. automakers. Of course they haven’t. The agreements they made were all in favor of the workers, at the threat of strike. Their breaking an agreement would be akin to pirates returning some of the booty they stole, at dagger point. What’s the point?

I think what we are really overlooking are the pension and healthcare funds that the UAW controls. GM alone has committed over $50 billion to a healthcare fund overseen by the UAW, while UAW pension accounts hold over $105 billion in “managed” pension funds, supposedly for the benefit of retirees and spouses. But wait, there’s more. With the historic fraud, mismanagement and corruption, by notorious union pirates, don’t these funds resemble a big juicy piƱata than any retirement plan for workers?

With all the noise about the potty mouthed Governor Blagojevich trying to sell Obama’s senate seat, we have not heard a peep about what he knows about Obama’s meteoric rise to the presidency. No doubt the Gov. holds some aces up his sleeve about the Pres elect, that will ease his fall from grace. I’m guessing on mattress filled with hundred dollar bills.

And try as they might, Wall Street bankers will not be able to contain What, Why and Where their $700 billion went. I know, I know really $350 billion, but there’s more to come, with a stroke of a pen.

And last but not least, once the pixie dust has blown off Herr Obama’s Teflon suit, with the winds of discontent, from the discovery that his promises were just puffs of smoke up their skirts, the legions that ignored his flaws to blindly anoint him the world’s most powerful man, will turn on him with a vengeance.

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