The Herald Bulletin

November 20, 2013

Letter: What compromise will Republicans offer?

The Herald Bulletin

---- — To compromise on the Affordable Care Act what are the Republicans willing to give? More pay cuts, no jobs at all, or higher prices? We know what your plan is — wait until the American worker is so desperate for a job, or anything Big Business will pay that we would rather settle for a few dollars to feed their family, rather than fight back. You're like a mob, surrounding your prey, "Set the house on fire, boys, if they don't come out." Shut the U.S. down — starve 'em out!

Wall Street's penalty for noncompliance (low dividends) to a Wall Street-owned (they call it public held) company is shriveling stock prices and bankruptcy. This is generally called racketeering where I come from.

GM's bankruptcy was a Wall Street deal — using their power to pull their GM, Chrysler stock then buying short (betting the stock price will go down) to make a ton of money on the backs of millions of autoworkers and their families. Didn't work — thanks again, Obama.

Today, Wall Street is loading up on companies who pay cheapskate wages and furnish entry-level jobs or Christmas temp help. Their stock could run as high as $200 a share while GM struggles at $36. It seems that all GM needs to become a Wall Street sweetheart is to cut their pay to less than minimum wage, work only part-time with no health insurance or vacations.

Frank Couch