To the Point
Preserving Wall Street, the Auto Industry and the Income Gap
Everybody understands the hourly wage contracts the United Auto Workers agreed to with GM and Chrysler. But only Wall Street knows how or why investment bankers get bonuses worth tens of millions of dollars. Are Washington's bailouts punishing transparency, rewarding stealth and preserving the income gap? Also, Toyota expects its first operating loss since 1941, and another White House tries to control the historical record.
By Warren Olney • • 1h 0m ListenEverybody understands the hourly wage contracts the United Auto Workers agreed to with GM and Chrysler. But only Wall Street knows how or why investment bankers get bonuses worth tens of millions of dollars. Are Washington's bailouts punishing transparency, rewarding stealth and preserving the income gap? Also, Toyota expects its first operating loss since 1941, and White House e-mails and Dick Cheney's penchant for secrecy. Does history have a chance?
Banner image: Ford trucks are parked in a lot before being shipped in Detroit, Michigan. Photo: Spencer Platt/Getty Images
