Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Emails show Obama administration involvement in killing non-union auto pensions
Human Events ^ | 8/7/2012 | John Hayward

Posted on 08/08/2012 7:08:29 PM PDT by neverdem

Matthew Boyle of the Daily Caller reports that internal emails show Treasury Secretary Tim Geithner was “the driving force” behind terminating the pensions of 20,000 non-union retirees from the Delphi auto parts manufacturing company, as part of the government’s bailout plan for General Motors.  Union workers, on the other hand, “saw their pensions topped off and made whole.”

This decision was supposed to be made by the independent Pension Benefit Guaranty Corporation, which is meant to be free of political influence, so it can represent the interests of private-sector pensioners.

Instead, the Daily Caller unearthed a string of emails that show extensive involvement by the Treasury Department and the White House.  In one email, PBGC staffer Joseph House told his associates that he had just spoken with Treasury official Matt Feldman, who said he had “made progress discussing our proposal with a number of key folks in Treasury and at [the] White House, but he has not yet wrapped up his coordination.  He indicated that there is an 8 AM call tomorrow that he’ll use to close the communication-loop, and he’s confident he’ll have a fully-vetted Treasury view after that call.”

This is problematic not only because of appearances, but because Treasury officials have testified under oath that the PBGC terminated those pensions, not the Administration.  It’s tough to read the correspondence between PBGC and Treasury without concluding that Administration officials were running the show.

Especially troubling is a series of emails that show PBGC staffers were actually disinvited from a key early meeting of the Administration’s auto bailout team.  The meeting was clearly intended to include a discussion of the pension situation, but Joseph House told other staffers that the Treasury department had “uninvited” them.  This is more than merely controversial, because as Boyle notes, “without a PBGC representative in the room, Treasury officials were legally prohibited from making decision about pensions – or even from moving toward them.”

Despite this effort to save money at the expense of non-union employees, the GM bailout remains a titanic loss to the taxpayers, currently standing at roughly $35 billion with the recent dip in stock prices.


TOPICS: Crime/Corruption; Editorial; Politics/Elections; US: District of Columbia
KEYWORDS: automakers; delphi; geithner; generalmotors; pensions; timgeithner; unions

1 posted on 08/08/2012 7:08:43 PM PDT by neverdem
[ Post Reply | Private Reply | View Replies]

To: neverdem

My brother-in-law is one of the Delphi retirees that got stiffed by the government. I’m forwarding this article to him.


2 posted on 08/08/2012 7:14:15 PM PDT by meyer (It's 1860 all over again - the taxpayer is the new "N" word)
[ Post Reply | Private Reply | To 1 | View Replies]

To: neverdem; All


Help End The Obama Era In 2012
Your Monthly and Quarterly Donations
Help Keep FR In the Battle!

Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!


3 posted on 08/08/2012 7:14:56 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
[ Post Reply | Private Reply | To 1 | View Replies]

To: neverdem

My husband is one of the salaried retirees. I could give you an earful on the situation. But one REALLY important thing, unmentioned in all the articles, is that the pension was funded better than most pensions out there today. But yet, since it was thrown to the PBGC, monthly pensions are reduced from 30-70 percent. Totally unnecessary.


4 posted on 08/08/2012 7:15:28 PM PDT by arichtaxpayer
[ Post Reply | Private Reply | To 1 | View Replies]

To: neverdem

Why am I not surprised?

Everything this administration touches is corrupted by their presence!


5 posted on 08/08/2012 7:18:36 PM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
[ Post Reply | Private Reply | To 1 | View Replies]

To: meyer; David

Is this situation ripe for a lawsuit - that includes certified paper birth records for Obama?


6 posted on 08/08/2012 7:32:28 PM PDT by Triple (Socialism denies people the right to the fruits of their labor, and is as abhorrent as slavery)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Triple

I was thinking the same thing. If it turns out he’s not legit he should have to be personally held liable for all these lost pensions and shut down dealerships.


7 posted on 08/08/2012 7:56:35 PM PDT by CommieCutter
[ Post Reply | Private Reply | To 6 | View Replies]

To: neverdem

“Dats a nice lookin’ pension ya got dere...”


8 posted on 08/08/2012 7:57:47 PM PDT by Army Air Corps (Four Fried Chickens and a Coke)
[ Post Reply | Private Reply | To 1 | View Replies]

To: neverdem
Despite this effort to save money at the expenseIN SPITE of non-union employees,that the 0bama administration and the UAW intentionally screwed, the GM bailout remains a titanic loss to the taxpayers, currently standing at roughly $35 billion with the recent dip in stock prices; which, fleecing the taxpayer was the plan all along.

The GM bailout is like a tapeworm that has the luxury of living in two people at the same time.........GM and the American taxpayer. They are a scientific marvel to behold; a parasite that can multitask hosts.

9 posted on 08/08/2012 8:17:15 PM PDT by Repeat Offender (While the wicked stand confounded, call me with Thy Saints surrounded.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CommieCutter

“I was thinking the same thing. If it turns out he’s not legit he should have to be personally held liable for all these lost pensions and shut down dealerships.”

This is the reason that if he isn’t, we will definitely be dust long, long, before it is “revealed”. It would be a much bigger secret than the alien ship in Area 51. The legal ramifications would be mind-boggling.


10 posted on 08/08/2012 8:33:25 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
[ Post Reply | Private Reply | To 7 | View Replies]

To: neverdem

Waiting for the NY Times front page expose on this....

any day now ...

yup ...

just like waiting for Godot


11 posted on 08/08/2012 8:45:18 PM PDT by WOSG (REPEAL AND REPLACE OBAMA. He stole America’s promise!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: neverdem

Clarification please, somebody. Did these 20,000 get anything? Doesnt the PBGC Guarantee 60% or some such percentage of all pensions?


12 posted on 08/08/2012 9:00:47 PM PDT by cookcounty (Kagan and Sotomayor side with Joe Wilson: -------Obama DID lie!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: WOSG

Maybe CNN will report it. Their ratings are in the tank. Maybe they will try reporting some news now.


13 posted on 08/08/2012 9:02:22 PM PDT by dandiegirl
[ Post Reply | Private Reply | To 11 | View Replies]

To: Bigun

That concept would make a great ad for Romney. Show BO smiling and gladhanding at Solyndra, then show the bankrupt empty building. Show him trying to get the olympics, then show the award going elsewhere. Show him touting those electric cars, then show how many were not sold and cars catching on fire. Show him picking winners in sports and the aftermath of when his chosen teams loose. Show him with ACORN then show footage of Acorn members going to jail .... you could go on forever.


14 posted on 08/08/2012 9:09:58 PM PDT by dandiegirl
[ Post Reply | Private Reply | To 5 | View Replies]

To: neverdem

Pubbies should hit hard in the “auto states” with ads regarding this fiasco. It isn’t reported by the crappy American press,...therefore, in terms of public consciousness, IT DIDN’T HAPPEN.

All those dealership employees, too, tens of thousands of employees screwed by Obama. If Romney killed Mr. Scoopitus’ wife, then Obama destroyed 100,000 auto industry jobs.


15 posted on 08/08/2012 9:16:03 PM PDT by cookcounty (Kagan and Sotomayor side with Joe Wilson: -------Obama DID lie!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Antiyuppie
This is the reason that if he isn’t, we will definitely be dust long, long, before it is “revealed”. ..... The legal ramifications would be mind-boggling.

Well, then, let's boggle. I'm tired of this gay Commie clownshow and their MSM fanboys. Let's get after it. Start suing people and indicting people under state securities laws. Feds aren't God.

Rush started in on the BC and docs on Tuesday. Let's hope he keeps it up, Breitbart or no Breitbart.

16 posted on 08/08/2012 9:21:16 PM PDT by lentulusgracchus
[ Post Reply | Private Reply | To 10 | View Replies]

To: cookcounty

This was done so the union pensions could be funded at the expense of non-union employees. “Auto states” being mostly union I think ads by the republicans would only rally the unions.


17 posted on 08/08/2012 9:36:17 PM PDT by Terry Mross (To my kin & former friends: Don't contact me if you still love obama- We got nothing to talk about)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Terry Mross

The “auto states” are Ohio and Michigan, where most of Delphi’s operations are. You’re not going to get the UAW votes anyway, but a lot of people in Michigan are NOT very aware of the Delphi situation because all they know is whatever anecdotals they’ve come across. There has been a news blackout on this situation. More cover-up for the Sainted One

I’m a native Michigander with lots of ties to the state, though I no longer live there.


18 posted on 08/08/2012 9:42:34 PM PDT by cookcounty (Kagan and Sotomayor side with Joe Wilson: -------Obama DID lie!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: cookcounty

“Doesnt the PBGC Guarantee 60% or some such percentage of all pensions?”

The PBGC guaranteed benefit depends on a variety of factors. These include age, years of service and ownership. There is also a cap on the dollar amount that is indexed for inflation.


19 posted on 08/08/2012 9:45:43 PM PDT by Tymesup
[ Post Reply | Private Reply | To 12 | View Replies]

To: wardaddy; Joe Brower; Cannoneer No. 4; Criminal Number 18F; Dan from Michigan; Eaker; Jeff Head; ...
Obama Shows His True Position on Guns

Report: ATF gun part of plan to kill Juarez police chief Julián Leyzaola

The Race Is Romney's to Win

Holder's Perez: Perjury on Panthers?

Some noteworthy articles about politics, foreign or military affairs, IMHO, FReepmail me if you want on or off my list.

20 posted on 08/08/2012 10:14:18 PM PDT by neverdem (Xin loi minh oi)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wardaddy; Joe Brower; Cannoneer No. 4; Criminal Number 18F; Dan from Michigan; Eaker; Jeff Head; ...
Obama Shows His True Position on Guns

Report: ATF gun part of plan to kill Juarez police chief Julián Leyzaola

The Race Is Romney's to Win

Holder's Perez: Perjury on Panthers?

Some noteworthy articles about politics, foreign or military affairs, IMHO, FReepmail me if you want on or off my list.

21 posted on 08/08/2012 10:14:32 PM PDT by neverdem (Xin loi minh oi)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Antiyuppie

It’s amazing how well most of us had this guy figured out (thanks to FR and talk radio).

This guy has turned out to be exactly who we thought he was.


22 posted on 08/09/2012 3:19:49 AM PDT by CommieCutter
[ Post Reply | Private Reply | To 10 | View Replies]

To: CommieCutter; Triple
Is this situation ripe for a lawsuit - that includes certified paper birth records for Obama?
I was thinking the same thing. If it turns out he’s not legit he should have to be personally held liable for all these lost pensions and shut down dealerships.
IANAL, but it certainly appears that civil suits should be filed. This looks like an open-and-shut case.

But then, what of all the dealerships arbitrarily shut down, apparently selected by the administration with political malice aforethought.

But of course the ongoing tort of the homogenization of journalism by the Associated Press hurts everyone who refuses to kowtow to the idea that reporters’ criticism and second guessing is superior to performance “in the arena."


23 posted on 08/09/2012 3:58:34 AM PDT by conservatism_IS_compassion (The idea around which ¬ďliberalism" coheres is that NOTHING actually matters except PR.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: dandiegirl

I absolutely agree!

They should start today!


24 posted on 08/09/2012 4:48:39 AM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
[ Post Reply | Private Reply | To 14 | View Replies]

To: neverdem

btt


25 posted on 08/09/2012 4:49:30 AM PDT by KSCITYBOY
[ Post Reply | Private Reply | To 1 | View Replies]

To: cookcounty

My husband’s pension was reduced 30 percent. The amounts vary from 30-70 percent with many factors considered. See my post #4, stating that pensions WERE funded good enough for many years.


26 posted on 08/09/2012 6:45:07 AM PDT by arichtaxpayer
[ Post Reply | Private Reply | To 12 | View Replies]

To: Triple

We have had a lawsuit going for two years. The retirees (my husband is one) have spent about $2million dollars so far, fighting every step of the way with the Government. They didn’t expect us to persue this, that we would lie down and take it. The last year has been spent just fighting to get documents released to us.

So with a reduced pension, we have to pay for our own healthcare and lawyers. That is what this Administration has done to the ‘nonunion’ workers.


27 posted on 08/09/2012 6:49:41 AM PDT by arichtaxpayer
[ Post Reply | Private Reply | To 6 | View Replies]

To: arichtaxpayer

Best of luck to you...

Perhaps the Romney campaign can use your story for stump/adds?

It seems to be a very sharp political point, and getting the word out could only help your case.

(WH - Future quote - ‘Gee, with being so busy cleaning up the mess GWB left us these retirees fell through the cracks of the system we inherited...of course the treasury will write them a check. We care.’)


28 posted on 08/09/2012 7:32:18 AM PDT by Triple (Socialism denies people the right to the fruits of their labor, and is as abhorrent as slavery)
[ Post Reply | Private Reply | To 27 | View Replies]

To: neverdem

Thanks for the ping!


29 posted on 08/09/2012 9:02:05 AM PDT by Alamo-Girl
[ Post Reply | Private Reply | To 20 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson