Geraghty on Blago and the sit-down strike

On another front, Chicago is at the center of the nation's attention. This time it's the sit-down strike by the former employees of Republic Windows and Doors.

Governor Rod Blagojevich, who may one day be living in "the house with many doors" spoke at a press conference in front of the shuttered factory. It was there he announced that Illinois, which is strapped for cash like most other states, won't be doing business with the Bank of America, which pulled Republic's line of credit last week.

Jim Geraghty in National Review's Campaign Spot sheds some much needed common sense on the the situation.

Suppose that Bank of America knuckles under to the threat, and makes a loan to cover the severance pay. The workers get that pay and... Republic Windows and Doors' plant is still out of business. The workers got what they were owed, but how is Bank of America going to get its loan paid back? The workers ought to get what their contract guarantees, but that's the responsibility of Republic Windows, not Bank of America.

Now, we got into this mess when banks started making loans that defaulted. Bank of America finds the economic prospects for Republic Windows and Doors dire. Blagojevich and the protesting workers are arguing that because they took government assistance, Bank of America ought to ignore their judgment of the company's prospects and make the loan, even though the company is likely to default on that loan... putting Bank of America back into the situation that started the mess and creating the reason they needed the government help in the first place.

The union rep on CNN says, "you have a choice, Bank of America, you can either go in and liquidate, sell off the equipment inside, or you can do the right thing." The "right thing," apparently, is to gamble with the taxpayer's bailout money on a company with lousy prospects.

She says "the workers are not going to go quietly." Great. Thuggery and threats.

Let me remind everyone that sit-down strikes are illegal. Not that people get arrested for them very often, but we are, or at least supposed to be, a nation of laws.

Speaking of laws, Governor Blagojevich is under federal investigation. It's possible, although he has not been accused of wrongdoing, that he may soon be accused breaking the law.

Technorati tags: Illinois Democrats Chicago Illinois Politics unions business banking Rod Blagojevich Bank of America