Lenin was quoting the Nihilist Cernischeffski. “What Is To Be Done” was published in 1863, 7 years before Lenin was born.

The unfortunate consequence of whatever reconstruction of the auto industries must, and will, be repudiation of their union pensions.
If this is not done, they’re bankrupt.
When it is done, the cost (plus the usual theft, loss, corruption, incompetence and huge administrative fees by some private sector firm – perhaps Paulson can arrange to have it directly to Goldman Sachs?) will pass to the taxpayer.
What is news is that this will desensitize the public to the idea that a pension has in any way a better claim to preservation over a debt incurred foolishly and illegally 5 minutes ago.
A pension is part of the contract between the company and the worker, in which as part of his compensation he agrees to forgo immediate payment in favor of payment at a later date. The employee performed his task, and expects to be paid. Any objections that the company may have had are now properly deemed abandoned and moot.
This is entirely different than a bad investment, toxic tranche, predatory mortgage etc.
For the government to alter a contact (30 years old in some cases) over the objections of 1 party, for the benefit of a 3rd party (”the financial community”) is a moral and legal outrage that must not be permitted.