The UAW will soon learn what the NEA knows
Money is best, direct from the source. Making
quality products is unnecessary.
It seems to be a bad idea to loan money to a politically protected class. Like unions or extremely irresponsible home purchasers. Their big uncle visits and forces you to not get your money back. Hence, a lesson is learned:
The obvious one is: Don’t lend to a company with big legacy liabilities or demand a much higher rate of interest because you may be leapfrogged in a bankruptcy.
The author of the piece linked above rightly suggests that this will make unionized businesses much less likely to get loans.
So, yes, creditors will learn their lesson.
But so will the unions….
Do not doubt for a second that the unions won’t try to get your money through other political means. Their political dogs are on the hunt, and they smell your money.