UAW Bailout Was Worse Than We Expected

In Shadowbosses, we explain how the auto bailout should more correctly be called the UAW bailout, because the union won, while the bondholders lost.  We also explain how the family of a young girl that died when her airbag failed to deploy won a judgment in court against Chrystler, but lost the right to compensation the bailout–as did everyone else with proven tort claims against the automakers.  But now, we learn that the Treasury Department under Geithner may have cheated 20,000 workers out of their pensions becuase they were not union members.

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.

 

 

Read more: http://dailycaller.com/2012/08/07/emails-geithner-treasury-drove-cutoff-of-non-union-delphi-workers-pensions/#ixzz23MGQ4ekG

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