Former Car Czar and current senior advisor to the White House Ron Bloom is being cagey with the House Oversight Committee about remarks he allegedly made about the auto bailouts in 2009. According to his former boss Steven Rattner, Bloom joked that "I did this all for the unions!" at a celebration of the bailouts in 2009.
In a June Oversight hearing, Bloom forcefully denied ever making the joke. Now, however, in a letter to the Oversight Committee, Bloom claims that he can't remember what he said at the 2009 dinner and thus can't say with certainty that he didn't make the remark.
Of course, the administration's relationship with the autoworkers unions in the restructuring of GM and Chrysler is a pretty bad joke. First of all, the Treasury Auto Task Force should never have existed in the first place. TARP was supposed to affect banks, Congress did not vote to bail out GM and Chrysler. The fact that Bloom had a job on the team was already an insult to voters and taxpayers.
Second, the administration trampled on the bankruptcy process to privilege the United Autoworker's stake over those of hedge funds who were secured bond-holders -- and then, to top it off, President Obama demonized those same hedge funds. Although huge financial corporations don't elicit a lot of sympathy, this episode reflected Obama's willingness to ignore the rule of law to suit his political goals.
Jokes are are funnier when they aren't at the expense of a group under your power; in this case, taxpayers.
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