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May 4, 2010
Brother Trumka, in your speech at the April 28th rally, you provided convincing reasons why the Wall Street crowd, including the major banks, should pay billions of dollars in compensation to the victims who lost their jobs, their homes and a portion of their retirement income because of Wall Street greed and reckless investments.
Yet, surprisingly, at the rally, and in speeches you have been making across the country, you never mentioned how the AFL-CIO was going to ” Make Wall Street Pay!” After months went by, it was becoming clear that you never intended to ask the banks for even a dime, but preferred to have them as an “issue,” on which to build your reputation as a leader.
In your Wall Street speech in front of one of the banks, you told the bankers: “Pay your fair share of the cost of creating the jobs you destroyed.” What is a “fair share”? How can it be determined, except by negotiations? But you didn’t offer to negotiate. In fact, we are led to believe that you never met these bankers face-to-face. So how can you make them pay?
Your biggest crowd-pleaser was when you said: “Wall Street, fix the mess you made!” You repeated that sentence eight times within two minutes as though it was a command Wall Street could not refuse. But do you really think that Wall Street is going to put up the cash for millions of jobs voluntarily, simply because you say so? Brother Trumka, do you really believe that?
There is an alternative plan, and I believe a better one, to make Wall Street pay for the destruction its greedy behavior has caused. Here it is in short-hand: Let the AFL-CIO Executive Council set up a Fund to be used for the most seriously victimized union members and their families. Demand a meeting with a committee of Wall Street bankers to negotiate a settlement. If the bankers refuse to negotiate, let the AFL-CIO use its leverage by threatening to withdraw its bank deposits and those of its members. We’d be in a pretty good position to make Wall Street pay—and pay plenty for the misery and hardship it caused millions of our members. Don’t you think so, Brother Trumka?
And What about the Eleven Million Jobs You Expect to Win
In concluding his speech at the rally, Brother Trumka said: “We’re here today. We’ll be here tomorrow. "And we’re not going to stop until we create the 11 million jobs we need and rebuild the middle class." Brother Trumka wants those 11 million jobs NOW, because, as you know, those jobs are urgently needed.
Meanwhile, the AFL-CIO keeps losing union members, who now represent a little more than 7 percent of the nation’s work force, the lowest rate in a century. Brother Trumka has no plan for organizing non-union workers and his efforts to get Congress to pass the Employee Free Choice Act (EFCA) have thus far met with failure. So how is Brother Trumka going to create 11 million jobs? Why not ask him to explain?
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