Skip to comments.Emails: Geithner, Treasury drove cutoff of non-union Delphi workers’ pensions
Posted on 08/07/2012 5:10:44 AM PDT by Cincinatus' Wife
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 General Motors company, is one of the worlds 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.
(Excerpt) Read more at dailycaller.com ...
Since when is something like contract law going to stop obama and geithner from grabbing your pensions and retirement funds. It’s been a big shining prize for these leftists from the get go. If you think your 401k, IRA, or pensions are safe from the clutches of the government, you are sadly mistaken. In the words of obama: “you didn’t build that, someone else did”. That gives these leftists an excuse to do whatever they want, and they are doing just that.
“Boehner doesnt care.
Pelosi doesnt care.
Reid doesnt care.
Deal with it (vote the bastards out).
Glad you put the worst offender at the top of your list. Boner is a worthless turd. We need to put enough Tea Party folks in the House to make certain he’s not re-elected Speaker.
They also took mine by stealing the money to pay off my GM bonds. There is no punishment to great for all in the Obama regime.
The taxpayers do not owe the union workers special protections. This is the Democrats buying votes with taxpayer money.
Everything the Obama administration has said is either a complete lie or stretching the truth.
Ping for later read .............................................................. FRegards
I got $100 says they won’t do a Damn thing about anything except full speed ahead towards that cliff. Unless of course the Entire Leadership of BOTH PARTIES are voted out of office.
“A new video advertisement from conservative advocacy group Let Freedom Ring features the stories of several Delphi salaried retirees, who lost their pensions at the hand of the Secretary Tim Geithners Department of Treasury.
I would ask President Obama why I had no rights and he had all the rights to take my pension away and never ever look back and say not only did I take it from Mary Miller, but I took it from 20,000 other people and their families, one Delphi salaried retiree, Mary Miller, says in the ad.
Its made life pretty rough. Ive really struggled to pay for the basics, Miller also says in the ad, adding that the Obama administrations actions led to her losing over 30 percent of my pension.
The ad is destined for television sets and online ads in the battleground states of Ohio, Pennsylvania and Virginia, Let Freedom Ring executive director Alex Cortes said in an email to The Daily Caller.
GOP presidential candidate Mitt Romneys campaign has addressed the Delphi pension as well, in a May web video.”...........
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