Fwd: goldman sachs runs scared

Doug Henwood dhenwood at panix.com
Thu Mar 23 08:03:15 PST 2000


Rakesh Bhandari wrote:


>Are you supporting the this new brave fight by the new
>internationalist AFL CIO against the PetroChina IPO?

Nope. I have lots of problems with it. One, the anti-China focus makes me very nervous; partakes too much of racism, even if it pretends not to, and too much of residual anti-Communism. (I hear the AFL-CIO's been circulating a speech by the rightwing maniac Tom DeLay that denounces Clinton for being too soft on the Red Chinese.) And two, I'm very skeptical about the whole "capital" strategy of the AFL-CIO - their use of pension funds to influence corporate strategy. I think it's a very limited technique, and puts them in alliance with some strange forces, like the shareholder activists who on most days of the week would love to bust a union and cut wages in half.

So, no, I don't like this at all.

Doug



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