Obama Shafts Non Union Employees in GM Bailout

Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.

The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.

The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law.

Delphi, a 13-year old company that is independent of General Motors, is one of the world’s largest automotive parts manufacturers. Twenty thousand of its workers lost nearly their entire pensions when the government bailed out GM. At the same time, Delphi employees who were members of the United Auto Workers union saw their pensions topped off and made whole.

The White House and Treasury Department have consistently maintained that the Pension Benefit Guaranty Corporation (PBGC) independently made the decision to terminate the 20,000 non-union Delphi workers’ pension plan. The PBGC is a federal government agency that handles private-sector pension benefits issues. Its charter calls for independent representation of pension beneficiaries’ interests.

Former Treasury official Matthew Feldman and former White House auto czar Ron Bloom, both key members of the Presidential Task Force on the Auto Industry during the GM bailout, have testified under oath that the PBGC, not the administration, led the effort to terminate the non-union Delphi workers’ pension plan.

“As a result of the Delphi Corporation bankruptcy, for example, Delphi and the Pension Benefit Guaranty Corporation were forced to terminate Delphi’s pension plans, which means there are Delphi retirees who unfortunately will collect less than their full pension benefits,” Feldman testified on July 11, 2012.



Read more: http://dailycaller.com/2012/08/07/e...-union-delphi-workers-pensions/#ixzz235t28hK1

 

Contrast the OP with the Obama ad accusing Romney of the death of the wife in 2006 of a man who lost his job in 2001 after the closing of a Bain operated steel mill. Romney left Bain in 1999 but the ad still accuses him in the death of this woman.

Every election that Obama has won, except that in 2008, has been due to he and his Chicago Mafia destroying his opponent. He did not have to destroy McCain; he did himself in!

 

The contrast has a lot to do with the slime ball democrat president.

How do you know the "scabs" were working without a contract. You need to wash out your mouth billwald. These people worked for a living which is a lot more than obama's welfare crowd!

Yes!

 

I say Obama is guilty of the deaths of all ex Deplhi workers who died since the GM bailout. And of course there is the deaths of all babies that have been killed by abortion as the result of overturning the Mexico City policy. But that is a ho hum to Obama supporters!