Conservative Economic Commentary | Topic: United Auto Workers

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Subject: United Auto Workers

The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, better known as the United Auto Workers (UAW), is a labor union which represents workers in the United States and Puerto Rico. Founded in order to represent workers in the automobile manufacturing industry, UAW members in the 21st century work in industries as diverse as health care, casino gaming and higher education. Headquartered in Detroit, Michigan, the union has about 431,000 members in approximately 800 local unions, which negotiated 3,100 contracts with some 2,000 employers. (Wikipedia Feb 2010)

Good and bad banks

Bank stress tests: aftermath and consequences

By John Schroy, on May 8th, 2009 |

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In May 2009, the Obama administration divided some of America’s largest banks into ‘good banks’ and ‘bad banks’.

This broke a long-standing practice of protecting the reputation of the US banking system. The Obama government seized TARP funds as an instrument of political power.

Banks, large and small, are now eager to escape the trap of taking TARP funds, which will require them to raise $74.6 billion, either by selling equities on the market, or from profits.

More » Bank stress tests: aftermath and consequences