| November 19, 2008 Frank has his say on auto bailout
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(NECN) - While hosting the CEOs of the "Big Three" automakers, Representative Barney Frank (D-MA) gave his opinion on the prospective auto bailout.
Frank's view is that the auto industry should not find confrontation over the potential deal simply because it will help blue collared workers instead of white collared workers.
"There is apparently a cultural conditioning that is more prepared to accept aid to the white collar industry than to the blue collar industry and I think that needs to be confronted honestly," Frank said before allowing the Big Three CEOs to have their say.
"We aid an industry only when it is necessary to do that to avoid much greater harm to the economy as a whole," Frank said. "Why was it so acceptable to do that for the financial industry, but doing it to a blue collar manufacturing industry is somehow not right. And that's the issue that I think the country has to more honestly confront."ll help blue collared workers instead of white collared workers.
"There is apparently a cultural conditioning that is more prepared to accept aid to the white collar industry than to the blue collar industry and I think that needs to be confronted honestly," Frank said before allowing the Big Three CEOs to have their say.
"We aid an industry only when it is necessary to do that to avoid much greater harm to the economy as a whole," Frank said. "Why was it so acceptable to do that for the financial industry, but doing it to a blue
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