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Unionizing Banks   December 8th, 2008
Now that banks have money, unions apparently want a part       


More observations...

I'm not sure what to make of this based on the relatively limited information, but it appears that now that banks have been infused with hundreds of billions of dollars, the unions want their piece.


The powerful Service Employees International Union has decided that, because of the $700 billion financial-system bailout, it wants to organize bank workers.

In an e-mail dated November 12 and obtained exclusively by CNN, a member of SEIU's Private Equity Project outlined initial discussions to organize bank workers "since the banking industry is now being infused with billions of taxpayer dollars."

The e-mail was written by SEIU's Inga Skippings to the director of the Washington office of the Association of Community Organizing for Reform Now (ACORN), a longtime ally and partner of the union.

"We need to get a handle on who these workers are, working conditions, etc.," Skippings wrote.

"Do you have ACORN members who work for banks or Freddie Mac/Fannie Mae? Is there anyway [sic] you could check? ..."

One labor professor said SEIU's timing in trying to unionize bank workers may be on target "because financial institutions are at a moment of weakness."

"Low-wage earners are the growing sector of the work force," said Gregory DeFreitas, an economics professor at Hofstra University and director of its labor studies program. "This is a very shrewd political move to tie this to the bailouts."

Wow... All I can say is wow! I suppose it's not surprising that blood (or money) will attract the sharks (or unions).

I guess we can all hope that unions can do for the banking industry all the wonderful things they've done for the automobile industry. Oh, wait...

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