Some more reader response on Sorkin.
TPM Reader LM:
One point being missed, especially in light of Sorkin’s response, is the flip side of this–those “iconic” non-union industries and companies who have also and concurrently failed miserably and who have really been the biggest contributor to our (and the world’s) economic meltdown–the Wall Street firms (Bear Sterns, Lehman), the big banks (Citi, BofA), etc. But folks like Sorkin did grow up over the last 30 years experiencing the love affair with all things free-market and an overinflated opinion and underdeveloped knowledge of our financial markets in particular. That has no doubt clouded his (and similar journalists’) judgment and opinions.
TPM Reader PS:
Did y’all notice this of Sorkin’s conceit in his response: Why don’t we ask the reverse question — to what extent has the lack of a union played in the decline of industries such as financials, tech companies (dot com boom), etc.? Unions can play an effective check on management’s excesses (drive toward ever increasing financial
innovation, perhaps) by requiring management to focus on fundamentals.
