“Highly Confidential” Treasury Dept. Documents Shows Obama Administration’s Deep Involvement in Delphi Pension Scandal.

Obama screwed the American taxpayers and non-union Dephi workers with his auto bailout scheme.

From Daily Caller:

Internal Treasury Department documents described as “highly confidential” and obtained by The Daily Caller show a greater level of involvement in the Delphi pension scandal from senior officials in the Obama administration than has been previously acknowledged.

A July 2009 document prepared by the Pension Benefit Guaranty Corporation (PBGC) titled “Treasury Talking Points re: Delphi” shows coordination between high-level players inside the PBGC and Treasury Department. The document was an attachment to a July 7, 2009 email from PBGC’s Joseph House to Treasury’s Matthew Feldman, Oren Haker and Paul Nathanson.

The talking points show that the PBGC thought the “[v]ast majority of individual’s [sic] covered by Delphi [pension] Plans” were “career GM ‘brethren’ distinguishable only by the 1999 spin-out” of Delphi from its former parent company, General Motors.

Only those “brethren” who were union members, however, saw their pensions preserved in the 2009 auto bailout. Nonunion Delphi retirees lost theirs. (RELATED: TheDC’s complete coverage of the Delphi pension scandal)

It’s unclear whether Treasury also held the view that only Delphi’s spinoff differentiated one group of employees from the other.  But a congressional source familiar with investigations into the Delphi pension scandal told TheDC that “[b]ased on documents received in the course of this years-long investigation, it would not be surprising if Treasury worked in concert with PBGC to draft this particular document.”

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Obama White House Fails to Meet Another Deadline: Failed to Produce Delphi Documents Requested by Ways and Means Committee

Someone doesn’t want the truth to get out. Non-union Delphi workers lost their pensions and benefits with the GM bailout as union workers kept all of theirs. It was politically motivated by the Obama regime and the Treasury Dept. and the White House is delaying the truth.

From DC:

President Barack Obama’s White House failed to meet the deadline to provide documents related to the Delphi pension scandal to the House Ways and Means Committee, The Daily Caller has learned.

On Aug, 15, Ways and Means Committee chairman Rep. Dave Camp sent official document requests to Treasury Secretary Timothy Geithner, Pension Benefit Guaranty Corporation director Josh Gotbaum and White House Counsel Kathryn Ruemmler. Camp asked for documents relating to Treasury and the White House’s involvement in the decision during the 2009 bailout to terminate the pension plans for 20,000 non-union Delphi salaried workers while topping off the pension plans for union workers.

Each government entity was to provide these documents to the committee by Sept. 7.

A committee spokesperson told TheDC that the Treasury Department and PBGC each provided some documents, but the White House failed to provide anything by the deadline. It’s unclear if the documents produced by Treasury and PBGC meet the requirements of the document request.

“Committee staff is currently reviewing the documents we received from Treasury and PBGC,” Ways and Means spokeswoman Sarah Swinehart. ”At this point, we have not received anything from the White House.”

Ruemmler was instructed to provide “[a]ll 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” related to Delphi and “GM’s interest in Delphi.”

In recent weeks, TheDC has obtained and published internal Obama administration documents and communications showing that political officials from the White House and the Treasury Department drove the cutoff of the 20,000 non-union workers’ pension plans.

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House Ways and Means Chairman Demands Delphi Pension Termination Documents from Obama Administration

Romney should get all 20,000 Delphi non-unionized employees to be in a political ad that tells Americans what Timothy Geithner and President Obama did to their pensions and health care benefits. It also needs to be pointed out that Obama’s ex car czar ducked Inspector General’s questions for almost three years before ratting out Team Obama. Obama’s first car czar, Steven Rattner, already spilled his guts on this fraud.

We have learned from the SIGTARP report, and Obama’s car czars, that Team Obama used politics to close GM dealerships in Republican districts. The regime changed bankruptcy laws to reward union workers over GM shareholders. They fired GM CEO Rick Wagoner, due to his severance package, and installed Whitacre who had zero experience in the automotive field. They sacked the pensions of non union Delphi workers but made sure UAW union worker kept their benefits. We learned that David Axelrod and Rahm Emanuel were heavily involved with these political decisions.

From DC:

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 dosuments 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.”

A House Ways and Means committee press release cited an Aug. 7 story in The Daily Caller that included internal PBGC emails showing senior White House and Treasury officials were behind the pension terminations.

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Emails: Geithner, Treasury Drove Cutoff of Non-Union Delphi Workers’ Pensions

A liar and taxcheat. Just your typical Obama goon!

Anybody notice a pattern? Members of Team Obama testify before Congress, lie and say no this didn’t happen only to have e-mails show it did? Obama is so beholden to the labor unions his administration totally screwed GM shareholders in order to reward union workers and now we learn Obama’s top taxcheat led the cutoff of non union workers’ pensions. This as Obama just labeled Mitt Romney “Romney-hood.”

From DC:

Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.

The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.

Must also mention that the Inspector General’s report (a Democrat & Obama donor) showed GM dealership closures were also political.

The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. 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.

This has happened with Solyndra testimony and when Obama members testified on the Fast & Furious gun scandal. Obama administration officials say No, No, No only to have emails that show they lied. No wonder they have been illegally using personal email accounts. They want to hide the truth.

Delphi, a General Motors company, is one of the world’s largest automotive parts manufacturers. Twenty thousand of its workers lost nearly their entire pensions when the government bailed out GM. At the same time, Delphi employees who were members of the United Auto Workers union saw their pensions topped off and made whole.

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Obama’s Socialist Ex-Car Czar Agrees to Stop Ducking Inspector General’s Questions About Obama’s Union Favoritism in Auto Bailouts

Most know Obama rewarded his union goons with the auto bailouts. The stock holders got screwed as the UAW got $$$. This explains why Obama’s socialist car czar, Ron Bloom, has ducked questioning by the SIGTARP Inspector General about the union favoritism investigation. I should point out that Obama’s first car czar, Steven Rattner, already ratted on Obama and said Obama was out to get the car companies.

From DC:

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.

While Feldman, Bloom and Wilson have maintained they think no preferential treatment was given to the unions during the bailout, emails The Daily Caller obtained in June 2011 show senior officials corresponding with senior GM officials on how to make certain decisions regarding who was going to win and who was going to lose. The three former Obama auto bailout officials had, according to TARP’s Special Inspector General Christy Romero, refused to give interviews to auditors about their role in the decision-making process. “These individuals’ refusal to speak to SIGTARP poses a significant obstacle to SIGTARP’s ability to complete its audit and to taxpayers gaining a full understanding of the discussions and considerations involved in GM’s decision,” Romero said in her prepared congressional testimony.

At the last minute before the hearing, Feldman, Bloom and Wilson agreed that they’d sit down for interviews with SIGTARP auditors. Continue reading>>>

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Emails prove Obama regime involved with cutting Non-Union Workers Pensions

Just another story about Obama paying back those who got him elected. It looks like Team Obama was involved with cutting the pensions of non-union workers and emails show they openly lied about their involvement.

The DC reports:

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.

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.

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Another Day and Another Inspector General Investigating Obama’s Big Labor Bailout

It’s the revenge of the Inspector Generals. Obama has fired two Inspector Generals without explaining why to Congress. In the past few days, we have witnessed two Inspector Generals stepping forward to investigate the Obama administration. Inspector General Glenn Fine is going to investigate why Obama’s Department of Justice voting rights record and how they handled the New Black Panther Party case.

Now we have the T.A.R.P. Inspector General, Neil Barofsky, looking into what was the Obama White House role in bailing out Big Labor. This is becoming a common event for the Obama administration. It must be raaaacism?

The New York Times reports:

The special inspector for taxpayer bailout funds is looking into whether the Obama administration pressed General Motors in bankruptcy to backstop the pensions of the union retirees of a former division, Delphi.

The inquiry could clarify a lingering mystery of G.M.’s forced restructuring last year: both unionized and white-collar workers earned pensions while at Delphi, a G.M. spinoff also in bankruptcy, but when the federal government took over their failing pension plans, only Delphi’s white-collar retirees suffered painful benefit cuts.

Neil M. Barofsky, the special inspector general for the Treasury Department’s bailout programs, said he intended to find out “whether political considerations played a role in favoring hourly over salaried retirees.”

As special inspector general for the Troubled Asset Relief Program, Mr. Barofsky has extensive power to investigate, but no real power to act on his findings. If his audit turns up evidence of impropriety, it will be up to another federal agency to step in.

The federal government insures traditional pensions, but its insurance has limits, including, for example, a yearly maximum benefit of $54,000 for a person who is 65 years old when the plan fails. Workers whose companies promised them richer benefits can therefore suffer sharp reductions. Normally, no amount of complaining, lobbying or litigation can make the Pension Benefit Guaranty Corporation bend the rules.

When Delphi’s pension plans were terminated last year, many of its 21,000 white-color retirees were warned that their pensions might be cut by 30 to 70 percent. The amounts vary because the insurance rules involve factors like each retiree’s age and years of service, the design of the pension plan and even how much money was in the pension fund when it failed. It can take more than a year for the government to calculate the precise amounts.

While the white-collar workers waited for bad news, they learned that their blue-collar brethren would not have any pension cuts. Members of Delphi’s three unions would get special payments called “top-ups,” paid by G.M.’s pension fund, to restore whatever the government took away.

For more than a year, the white-collar retirees have been seeking help in the courts and through members of Congress, demanding to know whether the corporation was right to take over their pension plan, and why union retirees got a much better deal.

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