It is outrageous enough that President Obama's Chief Economic Advisor Larry Summers openly admitted to the government's double-standard approach regarding forced economic sacrifice when he said the following of AIG's contractually obligated wealth-wasting:
"We are a country of law. There are contracts. The government cannot just abrogate contracts. Every legal step possible to limit those bonuses is being taken by Secretary Geithner and by the Federal Reserve system."
You'll recall, of course, that obliterating contracts is precisely what the government expected of and hastily received from the United Auto Workers (UAW) as part of the federal loan made to the Detroit Three auto companies.
Now, Santa Clara University School of Law Professor Stephen Diamond points out yet another method by which the financial elite are strong-arming, scapegoating and hogtying the gullible and gutless UAW leadership at the peril of its own membership: