The mouth pieces for the republiCon party, like Glen Beck, Hannity, Rush, etc. are favoring bankruptcy for auto makers but not banks. Why? Because bankruptcy for auto makers will help the wealthy execs and harm the blue collar employees. But for banks bankruptcy would hurt only the wealthy execs. The republiCon party is all for the wealthy.
The republiCon talking point for justifying reducing the pay for the auto maker workers is that they supposedly get paid $70 per hour. This is a republiCon lie aimed at harming the workers. No worker gets paid $70 per hour.
According to Johnathan Cohn at: http://www.uaw.org/auto/11_25_08auto2.cfm
Here is how the $70 per hour breaks down:
$28 actual wages approx
$10 approx benefits bring it up to about $38 per hour
The remaining $32 per hour is money that the current employees DO NOT GET. It is money that is being distributed to retirees. Money that the automakers ALREADY PAID to employees but kept it “safe-keeping” for their for retirement. republiCons want to steal the employees retirement money and give it to the execs.
In any case the republiCon talking point is to lie and state that current workers are paid $70 per hour. I believe the pay for the non-workers (execs) is approx. $5000 per hour.