Did the Treasury Dept & White House Lie About Their Involvement in the Termination of Thousands Non-Union Pensions?
- Posted on August 7, 2012 at 11:50am by
Becket Adams
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The U.S. Treasury Department, under the tutelage of Timothy Geithner, may have been behind the termination of roughly 20,000 pensions of salaried retirees at Delphi auto parts manufacturing company, The Daily Caller reports.
The decision, according to the DC, was based solely on the fact that the 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,” the DC’s article says.
“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,” he adds.
A quick history lesson: Delphi is owned by General Motors. Back in 2009, when the Obama administration was “saving” the auto industry, 20,000 non-union Delphi employees saw their pensions get wiped out.
However, unionized Delphi workers had no problem with their pensions. In fact, they saw their pensions “topped off and made whole,” as the DC puts it.
Now keep in mind the White House and the Treasury Department claim they had nothing to do with the pension terminations. They say the Pension Benefit Guaranty Corporation (PBGC), a fed agency that takes care of private-sector pension benefits, made the call all on its own.
“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,” Former Treasury official Matthew Feldman testified on July 11, 2012.
An email dug up by the Daily Caller dated Thursday, April 2, 2009, shows PBGC staffer Joseph House informing his colleagues Karen Morris and Michael Rae that a meeting held the next day with the entire auto bailout team (that means everyone) would cover “everything — lead off with Chrysler, then we’ll get into GM/Delphi.”
Emails clearly indicate that “pension issues” would be “kicking off” the meeting with the auto bailout team. Clearly, people deeply involved in the bailout of the auto industry they knew something was happening with the pensions.
But here’s where it starts to get a little strange. After that meeting, House emailed PBGC staffers Karen Morris and John Menke.
“We’ve been disinvited,” he wrote. “It’s for the best.”
“Who uninvited us?” Morris replied.
“Treasury,” House responded.
Wait, Treasury excluded PBGC from bailout talks involving a discussion of worker’s pensions?
“The emails TheDC has obtained show that the Treasury Department, not the independent PBGC, was running the show,” Boyle writes.
“Under 29 U.S.C. §1342, the PBGC is the only government entity that is legally empowered to initiate termination of a pension or make any official movements toward doing so,” he adds.
See the emails here:
Of course, Treasury is denying everything.
“[T]he termination of the Delphi salaried pension plan was made by the PBGC in accordance with its standard procedures and applicable laws — not by Treasury,” Treasury spokesman Matt Anderson said in an email to TheDC.
“Although the Delphi bankruptcy was very difficult for its employees and retirees, the actions Treasury took to support the American auto industry helped save more than a million American jobs during a period of economic crisis,” Anderson adds.
What’s the bottom line?
“Very obviously, Treasury was at least involved in the decision-making, if not the ultimate decider of the Delphi pension termination,” writes Hot Air’s Ed Morrissey, “it looks pretty clear that the PBGC was at least coordinating efforts with the Obama administration.”
“To the extent that any officials testified differently, we may be seeing more subpoenas and Congressional hearings in the near future. One question in particular will be why the PBGC terminated the non-union pension while taxpayers absorbed the union pension obligations, and whether that outcome was coordinated all along by the White House,” he adds.
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Comments (87)
YourVoiceMatters
Posted on August 7, 2012 at 12:31pmillegal is as illegal does….are you starting to connect the dots
Report Post »in all these issues we seem to be having w/this administration?
I have never seen a more lawless bunch ever in the history of this country
and the media cronies and it goes unreported for the most part
how many stories have been broken by bloggers lately…
it is because the collusion between the administration and the “news”media
in bed together and the truth is stiffled or completly unreported!
What a day to be living, America the home of the brave and the land of the free is still there
it is they are considered by this administration as a terrorist group!
because we are against this mafiosa type govt running the country
destroying our freedoms inch by country mile!
For God’s sake people what will it take for you to see what is truly happening to your country?
dgonzalez01
Posted on August 7, 2012 at 12:45pmThis would make a great campaign add for Romney!
Report Post »Deb C
Posted on August 7, 2012 at 1:51pmSounds like a war between big government and big business…
Report Post »docgreen
Posted on August 7, 2012 at 7:31pmOk, I have a question for Blazers! Did hitler not come to power and do the same things as obama’s doing now? Don’t you get it people, when all this ends we’ll look at each other and ask ourselves what the H_ll and how the H_ll were these people able to scr_w us so bad! Is this not discrimination, along with this we have the Health Care Law, remember the waivers the unions and some big businesses got? None of his policies have anything to do with equal rights! obama is doing and has gained power just like hitler did! But somehow most seem to ignore this, why? Why is it, obama can get away with this BS without someone stepping in? Where’s the Republicans? Where? I’m so glad people can sit back and watch an evil dictator come to power! Why do I say this? What ever happened to the left screaming murder for water boarding, and yet at the same time obama’s killing terrorists with missiles? I thought this was illegal to do? Does not the Bible say the AntiChrist will rule the Air? If you ask me we’ve watched him come to power the same way hitler did. On the back of the unions, once he was in power his death machine came forward! How many people were killed before any country realized the Evil he was? People when Americans start dying and its linked back to obama you’ll understand who he is! He “obama” came in peacefully and will slaughter millions with his Evil plans! We are in deep Sh_t and no I dont want people to hurt others, its not us I’m worried abou
Report Post »dodgedart1966
Posted on August 7, 2012 at 7:42pmWe need more Allen West’s. Pol’s who are not afraid to tell the truth. Not afraid of how the media will portray them. Research your local candidates for congress and senate, even at the state level.
Report Post »2010 must be repeated several times over to turn it around. Not just 2012, but 2014, 2016 and beyond
ValidFib
Posted on August 7, 2012 at 12:28pmYes. They did. And can we have an independent investigation that’s not partisan… no we can’t.
Report Post »Common Sense 24
Posted on August 7, 2012 at 12:28pmUnbelievable. How much more will people take?
Report Post »Bill Rowland
Posted on August 7, 2012 at 5:02pm‘How much more will congress take? Why aren’t our congressmen investigating and taking action to impeach and try these Horses Rectums in Federal Court?
Our representatives and senators should be protecting their constituants instead of this crooked administration.
I’m upset with Sweet Old Barack and his posse but this one has me pi**ed off big time.
OMG NOv 6, 2012
Report Post »HKS
Posted on August 7, 2012 at 12:25pmSounds like great ammo for an ad champagne to me. “Obama fires workers and cans thousands of middle class pensions in the auto industry, discriminating against non-union workers” Romney should get right on that. Should be good right up to November.
Report Post »dgonzalez01
Posted on August 7, 2012 at 12:46pmI agree! This is great ammunition for Romney!
Report Post »BloodSweatandTears
Posted on August 7, 2012 at 4:48pmIf he doesn’t use it- should raise some eyebrows.
Report Post »cantstandlibs
Posted on August 7, 2012 at 6:54pmRomney is like McCain. You really think the gloves will come off? He wants the enemy to vote for him and is probably delusional enough to think they can be convinced. You think he will side with the country on voter reform, “immigration” reform, tax reform, welfare reform, judicial reform, health care reform?? Not without kicking and screaming, and that is only if we can get this agenda past Bonehead Boehner and then the Senate.
Report Post »martyinhagerstown
Posted on August 7, 2012 at 11:45pmA campaign ad? I bet gypsies and jews said the same thing about hitler.
In the end responsible adults had to use their duck hunting tools in real campaigns (not political campaigns) where millions died and eventually entire cities were incinerated.
Thats what happens when you let things go too far.
Report Post »Truth and Justice
Posted on August 7, 2012 at 12:25pmThere is no doubt in my mind that Obozo played some part in protecting the union boys at the expense of the non-union workers. Wake up Sheeple!!!
Report Post »dgonzalez01
Posted on August 7, 2012 at 12:25pmUnions are nothing more than a labor “monopoly”. I thought monopolies were illegal (and they are unless they benefit the left).
Report Post »South Philly Boy
Posted on August 7, 2012 at 12:25pmJAIL TIME is NEEDED
Report Post »G-WHIZ
Posted on August 8, 2012 at 12:09pmWE CAN off-load jobs to a “foreign”-country…howbout [jailtime] in South-American prizons…like Columbia…way-much-cheeper, and think how much they’ll love to have them ’cause these POS’ caused their problems to increase, too!…..such as 500%+CORN-PRICES/etc…
Report Post »routnom23
Posted on August 7, 2012 at 12:22pm“Although the Delphi bankruptcy was very difficult for its employees and retirees, the actions Treasury took to support the American auto industry helped save more than a million American jobs during a period of economic crisis,” Anderson adds.
Report Post »It only save UNION jobs. All those people who worked for the mostly conservative owned dealerships that were closed LOST their jobs. But that’s OK I guess, because they didn’t support the commie takeover of GM.
txdave22
Posted on August 7, 2012 at 12:27pmSir, what have you done for the wealth and security of the U.S. in the past few years?
Differences: since Obama came to power, DJIA HAS GONE UP ABOUT 63%, HISTORIC INCREASE IN WEALTH for the American people who own stocks, funds, 401k, annuities, 8000 when gw bush thankfully ended his REIGN OF ERROR, and now DJIA about 13000. Conversely, bush cost America and its corporations as DJIA FELL FROM 11000 when Clinton left to 8000 when we got rid of cheney/bush and terrible pub policies.
Also, another difference: osama bin laden, creator of 9.11 was ENEMY # 1 OF THE US. So, gw bush couldn’t get him in about 7+ years and Obama got him in less than 3.
On those 2 things alone, GREAT PRESIDENT. He has brought soldiers home from Irag, whereas bush’s mishandling of iraq, start until his departure COST OVER 5000 SOLDIER’S LIVES AND ABOUT 30000 WOUNDED, many badly, amuptations, brain injuries.
I would ask: Madam, what have you done for increasing America’s wealth and safety in recent years?
Report Post »TexasHunter
Posted on August 7, 2012 at 1:49pmTXDAVE Dude did you really say Great and President in the same line? I really hope you do not reside in TX because with a statement like that you belong in CA. Now when you can find Obama, Barry who ever he is, his school records and show them to the world then please I give you all means to say at least he is transparent. This man is a UNION THUG raised by UNION FOREIGN AND DOMESTIC THUGS. Barry is the biggest joke that we have EVER had as a POTUS. STOP blaming BUSH. OUR MILITARY found Osama NOT BARRY!!
Report Post »GeorgeWashingtonslept here
Posted on August 7, 2012 at 12:16pmOk, so all the non-union auto worker’s that got their pensions cut,,,,,,please stand up! Now, how many of you idiot’s voted for Obama? _____ Now, how many of you are not going to vote for Obama this time?_____ Inquiring minds want to know! Well at least I do….
Report Post »Micmac
Posted on August 7, 2012 at 12:15pmHow many union-crony pensions were saved? This smacks of the NoBama administration at its finest.
NoBama > MoBama
Report Post »thibx
Posted on August 7, 2012 at 12:13pmi bet it has oboma name all over it. i would believe the orders came from oboma himself. this needs to be looked into by congress. i smell a rat and it has oboma’s name on it. he is as corrupt as the unions he protects.
Report Post »Mr.Fitnah
Posted on August 7, 2012 at 12:13pmNon story, it will never get traction.
Report Post »Jenny Lind
Posted on August 7, 2012 at 12:08pmI was amazed that I didn‘t loose the small GM pension I got on my husband’s death. I sure lost the stock, although I found out by getting a check for interest last year (in the amount of $4.23) that I had $100.00 worth. Delphi was once a solid little company, so sorry some got screwed. Hope it can be proved and they are made whole. The more I know the more I can’t stand Obama and his crooks. They have done so much damage to this country, I pray Romney wins, four more years will be our total destruction with Obama and his ilk.
Report Post »HorseDancer
Posted on August 7, 2012 at 12:15pmIf Romney had his way, you would’t have any pension or stock. Wake up, Jenny. the conservatives couldn’t care less about you.
Report Post »thegreatcarnac
Posted on August 7, 2012 at 12:07pmYes,,,they did. There is proof. The government destroyed the pensions of non-union people to save the pensions of their people….the Union members. The federal government is a crooked tyranny.
Report Post »RightUnite
Posted on August 7, 2012 at 12:07pmWow!! This isn’t going to be good for the administration…… YES!
Report Post »Mikev5
Posted on August 7, 2012 at 12:06pmThe mass collusion is going to be hell after Obummer is gone the skeletons are starting to pop up sooner than expected
Obummer is a very evil man
Report Post »johnjamison
Posted on August 7, 2012 at 12:16pmThese people will flee the country come jan ,26th 2013 there will be warrants for the arraest of so many in his adminstration it will jam up the system.
Report Post »Mikev5
Posted on August 7, 2012 at 12:23pmThat I believe
Report Post »ENIGMA28724
Posted on August 7, 2012 at 12:06pmOf course they were responsible and lied about it. That is the way they operate.
Report Post »Shasta
Posted on August 7, 2012 at 4:30pmYep, more Chicago style thuggery. There is a huge list of Obammy screw-ups, lies, law breaking, and more for Romney to use in his campaign. Not sure why we don’t hear much from him. Moreover, I wish he would start to tell us about his financial plan.
Report Post »historyguy48
Posted on August 7, 2012 at 12:05pmYep, they sure did. But what would you expect of Dear Leader? truth, justice and the American way? How about, Hate, Crime, and F–k America!
Report Post »yep, the second one sounds about right.
johnjamison
Posted on August 7, 2012 at 12:14pmLast time I checked perjury was a crime,and government corruption was another crime and when several people commit crimes together that is criminal conspiracy. where are the summons,warrants and police
Report Post »drphil69
Posted on August 7, 2012 at 12:04pmObama “saves” the auto industry by screwing investors, tax payers, and handing ownership to the unions. Obama “saves” the economy by $5 trillion+ in new debt, which YOUR children and grandchildren will pay. Obama “saves” health care by forcing everyone into a one size fits all plan, that the administration continues to pile more and more “mandates” onto.
OBAMA IS AN OUT OF CONTROL WANNA BE DICTATOR.
Report Post »johnjamison
Posted on August 7, 2012 at 12:11pmyes he is
Report Post »Outlaw_Josey_Wales
Posted on August 7, 2012 at 12:03pmSee what happens when you don’t pay protection money to mob boss Obama.
Report Post »Tri-ox
Posted on August 7, 2012 at 12:02pmOf course.
Report Post »TOPOFTHEGAME
Posted on August 7, 2012 at 11:58amThose non-union employees were just part of the LITTLE PEOPLE so they don’t count…………….Just Sayin
Report Post »copatriots
Posted on August 7, 2012 at 11:58amROFL…….does 0bama, Holder, Geitner, et al lie? The bigger question is…..do they ever tell the truth?
We have a chance at the truth with 0 when he goes sans teleprompter.
Report Post »Detroit paperboy
Posted on August 7, 2012 at 11:58amDuhhh !!!
Report Post »HorseDancer
Posted on August 7, 2012 at 11:56amDid they? Some people say . .. they might have. Here’s the proof:
http://www.youtube.com/watch?v=NYA9ufivbDw
Report Post »Conservative2
Posted on August 7, 2012 at 12:45pmYUP, some people say there is a paper, email trail that show treason within this administration too!
Report Post »