Emails detail Obama admin's role in cutting non-union worker pensions post-GM bailou

[PapaG]

The most corrupt administration ever?

The bond-holders got fucked over, and non-union employees lost their pensions, while union employees kept theirs.



http://news.yahoo.com/s/dailycaller...tincuttingnonunionworkerpensionspostgmbailout

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.

The key point of the Wednesday hearing was to show that the Obama administration advised GM on how to eliminate the Delphi workers’ pensions. The evidence suggests Geithner’s team played a significant role in that process, despite claims to the contrary.

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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[BLAZER PROPHET]

Re: Emails detail Obama admin's role in cutting non-union worker pensions post-GM bai

The Obama administration has never hid the fact they are attempting to eliminate and/or punish non union employees where they can and if appropriate. They have equally never hid the fact they will make political payoffs to unions for their support and "work" during the last presidential elections. As such, this is hardly news. Nonetheless, it is sad when any political party in power seeks to intentionally ruin the welfare of those who disagree with them philosophically. And it seems to happen with both sides.

 

[PapaG]

Re: Emails detail Obama admin's role in cutting non-union worker pensions post-GM bai

The Obama administration has never hid the fact they are attempting to eliminate and/or punish non union employees where they can and if appropriate. They have equally never hid the fact they will make political payoffs to unions for their support and "work" during the last presidential elections. As such, this is hardly news. Nonetheless, it is sad when any political party in power seeks to intentionally ruin the welfare of those who disagree with them philosophically.

It's hardly news that Obama took over GM, and then had his Treasury department fuck over non-union employees while protecting union employees?

I think it's a pretty big fucking deal, and I'm sure the 85% of Americans who aren't in a union will feel the same way once Issa has hearings on the obvious lie they were told in 2009.

I hope this becomes a campaign issue, but the GOP is so worthless and distracted I won't hold my breath.