I’ve long advocated that the unions take a harder look at buying into the automotive industry. The automakers routinely told the unions that the unions were “valued partners” at the table when restructuring took place over the last decade — and the unions actually bought it, hook-line-sinker.

BTW, Kyl may be a stand-in for McConnell, but Kyl also has both a Nissan and a Toyota technical/test center in his home state. AZ also has been at the center of a dispute regarding what automakers can show on their websites, pitting foreign makers against American makers.

According to Naomi Klein’s latest article in The Nation, “The more details emerge, the clearer it becomes that Washington’s handling of the Wall Street bailout is not merely incompetent. It is borderline criminal.” The article is called “In Praise of a Rocky Transition.”

Naomi Klein, investigative journalist, author of The Shock Doctrine, joins us now from Toronto, Canada.

Welcome to Democracy Now!, Naomi.

NAOMI KLEIN: Thanks so much, Amy.

AMY GOODMAN: “Criminal”? Explain.

NAOMI KLEIN: Well, there’s a few elements now that are being described as illegal that we’re finding out. First of all, the equity deals that were negotiated with the largest banks and also some smaller banks, representing $250 billion worth of the bailout money, this is the deal to inject equity into the banks in—to inject capital into the banks in exchange for equity. The idea was to address the so-called credit crunch to get banks lending again. The legislation that enabled this was quite explicit that it had to encourage lending. Barney Frank, who was one of the architects of that legislation, has said that it violates the act if the money is not going to that purpose and is instead going to bonuses, is instead going to dividends, going to salaries, going to mergers. He said that violates the acts, i.e. it’s illegal. BUT WHAT WE KNOW IS THAT IT’S GOING PRECISELY TO THOSE PURPOSES. IT IS GOING TO BONUSES. IT IS GOING TO SHAREHOLDERS . And it is not going to lending. The banks have been quite explicit about this. Citibank has talked about using the money to buy other bank —————————————————-

This is what Journalist/Economist Robert Kuttner said last week on Democracy Now and on Washington Journal

Ot Ew I think you will be interested in this Amy interview
Ex-CIA Officials Tied to Rendition Program and Faulty Iraq Intel Tapped to Head Obama’s Intelligence Transition Team

John Brennan and Jami Miscik, both former intelligence officials under George Tenet, are leading Barack Obama’s review of intelligence agencies and helping make recommendations to the new administration. Brennan has supported warrantless wiretapping and extraordinary rendition, and Miscik was involved with the politicized intelligence alleging weapons of mass destruction in the lead-up to the war on Iraq. We speak with former CIA analyst Melvin Goodman and Michael Ratner of the Center for Constitutional Rights. [includes rush transcript]

Meanwhile, I share your pain.

@12 – Agreed.

The bailout deniers are morans.

Sad. It’s just sad.