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Ways and Means Chairman Demands Delphi Pension Termination Documents
Tuesday, 21 August 2012 08:01
Written by Cliff Levine
We know that the White House played a role in gutting the pensions of non-union workers at Delphi in order to pay back their labor union thugs. This was just one of the many crony schemes purveyed by the corrupt Obama administration. Those not owed a favor by the White House were essentially punished, which is what happened to the non-union Delphi workers. The House Ways and Means committee is now taking matters into their own hands and will be investigating the situation.
Some 20,000 non-union, salaried employees at Delphi lost their pensions because they were non-union. Congressman Dave Camp, chairman of the committee, has demanded that the Treasury Department (tax cheat Tim Geithner!) and the Obama administration release records pertaining to the auto bailout so they can determine how only the lucky union thugs were able to keep their pensions. The entire process was corrupt.
From The Daily Caller:
Republican House Ways and Means Committee chairman Dave Camp demanded Wednesday that the U.S. Treasury Department and the Obama administration release records connected to an emerging scandal surrounding autoworker pensions terminated during the auto bailout. The Pension Benefit Guaranty Corporation (PBGC) and the Treasury Department axed pensions in 2009 for 20,000 non-union salaried retirees who worked for Delphi.
Those workers’ pension plans lost between 30 and 70 percent of their value, while similar plans covering members of the United Auto Workers and other labor unions were preserved and made whole.
Camp fired off letters to PBGC director Josh Gotbaum, Treasury Secretary Timothy Geithner and White House Counsel Kathryn Ruemmler, asking for documents by September 7. His committee seeks internal documents and communications relating to the decision-making process that resulted in those pension losses for non-union Delphi retirees.
From the PBGC, Camp demanded Gotbaum provide “all records, including but not limited to electronic mail to or from PBGC, the Departments of Treasury, Labor and Commerce and the Executive Office of the President of the United States” that relate to Delphi and General Motors’ interest in Delphi “for the period of January 1 through December 31, 2009.”
He demanded similar documents from Geithner and Ruemmler.
“Treasury has claimed in testimony and court filings that it had no substantial role in the decision to deny 20,000 salaried retirees of Delphi the full pension they were promised and worked hard to earn,” Camp wrote in his letters to the high-ranking officials. “However, documents obtained from the Pension Benefit Guaranty Corporation (PBGC) pursuant to the Freedom of Information Act (FOIA) and recently published raise questions about the full extent of Treasury’s involvement in the decisions that ultimately picked winners and losers among Delphi’s retirees.”
Again, 20,000 non-union, salaried Delphi workers got screwed because they weren't owed a favor by the Obama administration. This is corruption run amok from the most corrupt White House in modern American history. That's what this White House does: they pay back allies and harm opponents.
Cliff Levine is a contributing editor for Habledash.