Behind the Bailout

With all that is happening this week, the economic meltdown of the financial markets, the obscene bailout package recommended by the Bush administration (seemingly and thankfully going down in flames), and the presidential debates beginning last night, I had a hard time sleeping and found myself awake at 5:00 am this morning. While waiting for the coffee the brew, I was lucky enough to stumble on to this excellent documentary on the current financial crisis on the weekly PBS series “NOW”. Titled “Behind the Bailout” it should be required viewing for every union member who wishes to be more informed about the current crisis and the efforts by labor, and in particular the AFL-CIO and Damon Silvers, an associate general counsel at the AFL-CIO, to see that working people in America don’t have to pay the tab for the greed and excesses of the leaders of the financial markets. Having attended the GMP’s Quadrennial convention, I recognized AFL-CIO Secretary Treasurer Richard Trumka (check this clip from YouTube) who speaks against the bailout package put together by the Bush administration. Watching the documentary it was interesting to observe the efforts of labor and then to see policy change because of those efforts. See the documentary at the NOW website.
While it was exciting to see labor and in particular the AFL-CIO take such an active role in one of the great challenges of our times, it made me sad to again be reminded that my local, GMP #17, remains on the sidelines politically, and has not taken an active role in this crucial presidential election. Senator Barack Obama is a friend of labor, and if elected President will sign the Employee Free Choice Act, which potentially could usher in a golden age for labor, and reverse the anti-labor positions adopted by the Bush administration.