How Many Union Pensions Did Obama Terminate?

Discussion in 'Politics' started by Vel, Aug 7, 2012.

  1. Vel
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    Vel Gold Member

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    None that I can find, but it sure looks as if he screwed over those non union employees? I wonder if his super pac will run an ad detailing the health issues affecting those that lost their insurance so that Obama could pay off the unions?
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    Did Obama admin officials lie to Congress about Delphi pension termination?
    POSTED AT 10:01 AM ON AUGUST 7, 2012 BY ED MORRISSEY

    I don’t know about you, but I’m beginning to detect a pattern from the Obama administration. When called to testify before Congress, executive branch officials say, “No, no, no” … but their e-mails later say, “Yes, yes, yes“:

    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.

    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.
     
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  2. Caroljo
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    Caroljo Gold Member

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    This really is sickening.....this needs to be out there were people are going to see what they're doing. There are many more people NOT in unions than are, and this could help to get them out and vote the scumbag in the WH (and all his buddies) OUT!
     
  3. uscitizen
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    uscitizen Senior Member

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    Second thread on this.
    Bankruptcy did not terminate the pensions they just got put on the taxpayer dollar at the PGBC and capped at 54k/yr.

    Same thing that happens with any bankruptcy.
     
  4. Vel
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    Vel Gold Member

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    Really? How often does the U.S. Treasury decide the winners and losers in a bankruptcy proceeding? This was not the "normal" procedure. This was a case of "bankruptcy for thee, but not for me" by Obama supporting unions.
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    Last Updated: July 12. 2012 3:42AM
    Payne: Obama's unfair UAW Bailout
    Henry Payne/ The Michigan View.com
    This campaign season, the Midwest has become President Obama's refuge from the wilting economy as he and his Obamedia entourage make frequent trips to Michigan and Ohio touting the auto bailout as his signature economic achievement.
    Twenty-two thousand Delphi autoworkers would disagree.
    This week, former Obama Auto Task Force members stonewalled before a House subcommittee rather than detail their administration's shocking mistreatment of Delphi salaried employees even as it rolled out the red carpet for Delphi's labor unions. The hearing made clear that this was no auto bailout - this was a UAW bailout. Delphi's white collars have the scars to prove it.

    The Delphi scandal is simple: While union workers of the GM-affiliated parts maker had their pensions fully covered by the bailout, Delphi white collars were thrown to the dogs - that is, the Pension Benefit Guarantee Corporation (PBGC), which gutted up to 70 percent of workers' pensions. Why? They weren't major donors to the Democratic Party.
    The Delphi employees are the most public victims of a rigged bailout that indisputably helped prevent a collapse of the auto sector during the financial crisis of 2009 - but that also ran roughshod over bankruptcy law, knee-capped bondholders, and eviscerated the life-savings of many teachers, firefighters, and other pensioners. Contrary to Obamedia spin, the Delphi workers' treatment suggests that a proper managed bankruptcy as proposed by Mitt Romney would have been fairer and more transparent. (Not surprisingly, the Delphi hearings got little mention in the MSM.)



    Payne: Obama's unfair UAW Bailout | www.michiganview.com | The Michigan View
     
  5. theDoctorisIn
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    theDoctorisIn Senior Mod Staff Member Senior USMB Moderator

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    If anything, I bet those Delphi employees are wishing they joined UAW...
     

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