DETROIT (AP) -- The president of a UAW Local in Michigan says "It's the age-old Wall Street vs. Main Street smackdown again."
Brian Fredline, reacting to President Barack Obama's tough stance toward General Motors and Chrysler, says there's a double standard in the government's treatment of failing financial giants compared to that of struggling automakers.
Many workers -- not generally known for their affection toward executives -- even sympathized with Rick Wagoner, who was forced to step down as chief executive of General Motors Corp. He was called a "sacrificial lamb," "scapegoat" and "fall guy."
The government did reserve the right to remove senior management at AIG as part of its agreement to give the insurer $85 billion in emergency aid.
Also, banks don't have the union and legacy costs that the automakers do, which make their products more costly versus foreign rivals.
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