Tuesday, January 27, 2009

Labor Bill Opposed By Who?

It ends up that bailout recipients (including AIG and Bank of America) were some of the biggest opponents of a key labor bill (click here)
I figured I'd just copy the main text below (audio available on the site):

Three days after receiving $25 billion in federal bailout funds, Bank of America Corp. hosted a conference call with conservative activists and business officials to organize opposition to the U.S. labor community's top legislative priority.

Participants on the October 17 call -- including at least one representative from another bailout recipient, AIG -- were urged to persuade their clients to send "large contributions" to groups working against the Employee Free Trade Act (EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill.

Bernie Marcus, the charismatic co-founder of Home Depot, led the call along with Rick Berman, an aggressive EFCA opponent and founder of the Center for Union Facts. Over the course of an hour, the two framed the legislation as an existential threat to American capitalism, or worse.

"This is the demise of a civilization," said Marcus. "This is how a civilization disappears. I am sitting here as an elder statesman and I'm watching this happen and I don't believe it."

Donations of hundreds of thousands, if not millions, of dollars to Republican senatorial campaigns were needed, they argued, to prevent America from turning "into France."

"If a retailer has not gotten involved in this, if he has not spent money on this election, if he has not sent money to [former Sen.] Norm Coleman and all these other guys, they should be shot. They should be thrown out their goddamn jobs," Marcus declared.

Earlier he argued: "As a shareholder, if I knew the CEO of the company wasn't doing anything on [EFCA]... I would sue the son of a bitch... I'm so angry at some of these CEOs, I can't even believe the stupidity that is involved here."

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