PV Gap

Christina Said:

Government Motors: Are there plans for a new car-line... called "The Ruincarnation"?

We Answered:

Obama’s auto task force: a collection of Wall Street investors and asset strippers
By Jerry White
24 March 2009
World Socialist Web Site
http://www.wsws.org/articles/2009/mar200…

Excerpt:

The selection by the White House of the personnel to oversee the restructuring of the industry makes clear that its aim is not "saving" the auto companies, in the sense of preventing mass layoffs and protecting the jobs and living standards of autoworkers and the millions more connected to the industry.

On the contrary, the Obama administration has chosen representatives of America's financial elite, including former private equity investors and corporate asset strippers involved in previous restructurings, including in the airline and steel industry, where tens of thousands of workers were robbed of their jobs, wages and pensions.

As the World Socialist Web Site has noted, the near bankruptcy of Detroit is being exploited to destroy the gains of generations of autoworkers in order to make the auto industry a lucrative investment for the same Wall Street financiers who are responsible for the economic crisis. This attack will be used as a precedent for an offensive against the wages and conditions of the entire working class, in the US and internationally.