Posted on 07/10/2012 3:46:41 PM PDT by Hotlanta Mike
President Barack Obama’s former auto industry adviser and two former Treasury Department officials cracked at the last minute before a House oversight committee subcommittee hearing and agreed to stop stonewalling an investigation into alleged union favoritism during the administration’s General Motors bailout.
Ron Bloom, Obama’s former auto czar, and former Treasury officials Matt Feldman and Harry Wilson have refused to give interviews to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) about their roles in topping up pensions for union workers while non-union workers lost nearly their entire pensions.
The Treasury Department’s actions during the auto bailout caused 20,000 non-union workers from Delphi to lose most of their pensions. Delphi, a GM company, is one of the largest automotive parts manufacturers in the world. Its workers lost their pensions when the government bailed out GM.
While those non-union Delphi workers lost nearly their entire pensions, United Auto Workers union members’ pensions were topped off and made whole.
(Excerpt) Read more at dailycaller.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
Thieves, one and all. No integrity and my do they love to tell lies. Corruption top to bottom.
I had sacasm tags on that, but I guess they don’t show LOL
What about the secured bondholders who got cheated as well?
They were given “secured” bondholder status to entice them to loan money to GM on the basis that if the company was to go under they would be first in line during any bankruptcy or liquidation of the assets.
Obama et al are nothing more than a criminal cabal...CRIME INC
The Treasury Department's actions during the auto bailout caused 20,000 non-union workers from Delphi to lose most of their pensions. Delphi, a GM company, is one of the largest automotive parts manufacturers in the world. Its workers lost their pensions when the government bailed out GM. While those non-union Delphi workers lost nearly their entire pensions, United Auto Workers union members' pensions were topped off and made whole.
Death to the BondHolders.
Death to the ShareHolders.
And it's not CRIME INC, it's Hope and Change.
bttt
This is big and really ugly news. One of the first things Obama did was ignore commercial law, pension law and private property rights with this evil deal. It represented outright theft on a mega-grand scale, which has become par for the course for this band of con artists.
Some are more equal than others.
Quadruple the “trade in value” for older dependable used cars and trucks, and enable the “government” to buy then destroy them.
Voila!
A modest, very short term uptick in new car sales, and an extremely prolonged inflated market based on depleted inventories of used cars, for all of us “poor people” who couldn't afford a new car before the program, and now can't afford to buy a decent used one afterwards, without going deeply into usury levels of debt. This administration is not merely stupid and criminal, it is actively malicious.
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