We hate to say “we told you so”….but we did.
Union bosses will be soon handed the keys to Corporate America’s boardrooms.
The financial reform bill expected to clear Congress this week is chock-full of provisions that have little to do with the financial crisis but cater to the long-standing agendas of labor unions and other Democratic interest groups.
Principal among them is a measure to make it easier for unions, environmental groups and other activist organizations that hold shares to put their representatives on the boards of directors of every corporation in the United States.
As we said in April, the real goal behind the union push for “Wall Street Reform” had nothing to do curbing the excesses of Wall St. Rather, it has everything to do with the installation of European-Style “Participative Management,” which is…
…the installation of union bosses (or their representatives) to serve on corporate boards of directors (of publicly held companies, for now) so that the “workers’ voice” is heard. Another way to look at it is participative management is a way for unions to determine how a company operates.
So, how does a bill that clearly gives the keys to corporations over to unions make it through the Senate?
With the help of Senate Republicans Scott Brown (MA), Susan Collins and Olympia Snowe (ME & ME), that’s how.
Like stimulus and ObamaCare, this bill barely survived Congress. That alone is noteworthy, considering the White House had been raring for this fight, figuring it an easy score against Republicans who were to be painted as either with the administration or with the Wall Street robber barons.
That line did spur Tennessee’s Bob Corker to rush into “bipartisan” talks, giving Democrats ammunition against his fellow Republicans. And in the end it proved enough to lure the GOP’s weaker links—Massachusetts’s Scott Brown and Maine’s Olympia Snowe and Susan Collins—into Mr. Obama’s trap.
Whether it was out of ignorance, self-interest, or the pure prostitution of principles, these senators have helped union bosses take America once step closer to the socialist utopia that is Europe.
Thanks for the selling of America, Senators.