#1 E-MAILS SHOW GEITHNER, TREASURY TERMINATED PENSIONS OF NON-UNION WORKERS
08-07-2012, 02:54 PM
- Join Date
- Apr 2005
In what may contradict testimony by Obama administration officials under oath and may be a violation of federal law, The Daily Caller obtained emails that show Timothy Geithner’s Treasury Department “was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company,” and the move, according to The Daily Caller, “appears to have been made solely because those retirees were not members of labor unions.”
As The Daily Caller notes, “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” and “the White House and Treasury Department have consistently maintained” the PBGC “independently made the decision to terminate the 20,000 non-union Delphi workers’ pension plan.”
These emails contradict sworn testimony by several Obama administration figures and is yet another example of Obama’s administration misleading lawmakers, the courts, and the public -- as they did with Obamacare -- when it came to these pension cuts.
On July 11, 2012, The Daily Caller notes, Matthew Feldman, the former Treasury Department official, testified before Congress that, "As a result of the Delphi Corporation bankruptcy ... 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."
The e-mails show Treasury Department and White House officials working with PBGC officials, and e-mails from PBGC officials indicated they believed they needed "to clear decisions and action plans through senior administration officials."
In one series of e-mails, Joseph House, who was a Treasury Department official at the time the e-mails were sent in 2009, was in communication with Matthew Feldman, a member of Obama administration's auto task force.
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