Posted on 06/22/2011 1:10:09 PM PDT by NormsRevenge
New emails obtained by The Daily Caller contradict claims by the Obama administration that the Treasury Department would avoid “intervening in the day-to-day management” of General Motors post-auto bailout.
These messages reveal that Treasury officials were involved in decision-making that led to more than 20,000 non-union workers losing their pensions. (General Motors not eager to be political talking point in 2012)
Republican Reps. Dan Burton and Mike Turner say that during the GM bailout, Treasury Secretary Timothy Geithner decided to cut pensions for salaried non-union employees at Delphi, a GM spinoff, to expedite GM’s emergence from bankruptcy.
At a Wednesday hearing, the House Oversight Committee’s Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending started pushing the Treasury Department for answers on the effects of the bailout and on how much of a role the department played in picking winners and losers.
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In 2009 congressional testimony, senior Obama administration official Ron Bloom said the president told the Treasury Department to stay out of the management of these companies and downplayed any administration intervention.
“From the beginning of this process, the President gave the Auto Task Force two clear directions regarding its approach to the auto restructurings,” Bloom said then. “The first was to behave in a commercial manner by ensuring that all stakeholders were treated fairly and received neither more nor less than they would have simply because the government was involved. The second was to refrain from intervening in the day-to-day management of these companies.”
But the emails TheDC obtained show high-ranking Treasury Department officials, including Matthew Feldman of Treasury’s Auto Task Force, corresponding with senior GM officials on how to make certain decisions regarding who was going to win and who was going to lose.
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(Excerpt) Read more at news.yahoo.com ...
It’s a state-owned entity in a crazy debt regime. Take them all—union pensions, too.
This is what fascist mobsters do—put the squeeze on you for failing to play their game. How dare you not fall in step with the union black shirts. We’re going to hurt you and hurt you bad. We’ll show you what it’s like to dare to be non-union.
Yep—they really, really love ya, right? Killing these people’s retirements. That’s real love, wouldn’t you agree? They can hardly wait for Dr. Josef Mengele to see you for your next check up. Trust them...they just want to “take care of you”.
And yet these criminals are still tolerated...
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RACIST!
We should just get as many of those 20,000 who's pensions got cut to a stadium somewhere, march him in there, lock the gates, and come back in a few hours.
The government force the order of who got paid during the GM bankruptcy. The broke the law and ignored establish procedure. They ended up giving Union Pensions money they were not entitled to by law, while screwing those that were first in line. The courts did not uphold the law either, and agreed with the government. Everything has been turned upside down since O took office.
This is a bit more complex than many here realize.
Delphi was spun off from GM 10 years before GM went bk.
Delphi went bk in 2005.
Basically Delphi salaried folks got about what was prescribed by law per the PBGC rules and the amount of pension funding.
It was the UAW folks at GM who made out like bandits.
1. Welcome to the Corporate State.
2. Gangster Government.
3. This is worse than Watergate, Bert Lance, Iran Contra, or White Water. It sure as Hell is worse than Valarie Plame.
I read this somewhere and thought I would pass it along. Can't remember where. It does bring up some questions.
Nobody in Columbia recalls seeing him in their classes, no ex girlfriends have surfaced, no childhood friends.
Why did he lose his license to practice law in Illinois?
No listing of campaign donors, no record of law practice or clients. No state senate records. No baptism records. No school records. No adoption or medical records.
And there's more.
I wonder if it's all true.
It’s like a Third Way ‘Thug Nation’ Chicago-Style Regime.
The behavior and ‘governance’ offered so far is laughable .. and damnable at the same time... and begging for investigation(s).
Meanwhile, the lamebrain media have their keyboards and mics effectively locked away or on Mute.. and with no series challengers to O in a Dem primary.. It ain’t likely it’s gonna get better anytime soon with Holder at DoJ.
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