Obama officials enriched former firms, possibly themselves with auto bailout

Discussion in 'Politics' started by Revmitchell, Sep 6, 2012.

  1. Revmitchell

    Expand Collapse
    Well-Known Member

    Feb 18, 2006
    Likes Received:
    Emails obtained by The Daily Caller show that former senior Treasury Department officials who orchestrated the 2009 auto industry bailout enriched their former employers and likely made personal financial gains from parts of the deal they negotiated. At issue is the termination of pension plans belonging to 20,000 non-union salaried retirees from Delphi Corporation.

    Such self-dealing while an appointed member of a White House task force would violate federal law as well as an Ethics Pledge that an executive order from President Barack Obama said would apply to all appointees in the executive branch of the federal government from the date of his inauguration.

    During the auto bailout, now former Treasury official Matt Feldman, Obama Auto Task Force adviser Harry Wilson and other administration officials drove the Delphi pension cutoffs for non-union retirees. Their actions violated a federal statute that identified the quasi-independent Pension Benefit Guarantee Corporation (PBGC) as the only government entity legally empowered to initiate termination of a pension or make official movements toward doing so.

    Read more: http://dailycaller.com/2012/09/05/e...y-themselves-with-auto-bailout/#ixzz25hRediLz

Share This Page