Obama Election, Mob Prosecutions, Tougher Rules Led Way
The year 2008 will be remembered most of all for the $7 trillion in stock market assets that evaporated. The losses were a consequence of the widespread attitude among Wall Street money managers that debt-fueled growth has no limits or negative consequences. The equivalent view among union leaders is that institutional growth must come at any cost, whether to the unions themselves, employers or the country as a whole. Only 7.5 percent of the nation's private-sector work force now belongs to a union. Labor officials are convinced that with the right laws and programs in place, that figure could double, even triple. Everyone supposedly would win, save for certain "greedy" employers and ideologues hostile to the interests of working families.