Jarrett ignores questions on
terminated non-union Delphi
pensions
Daily Caller – Matthew Boyle –
8/7/2012
Article plus one-minute
video
On Tuesday, President
Barack Obama’s senior adviser Valerie Jarrett dodged questions about the Department of Treasury’s
decision-making behind terminating 20,000 non-union Delphi salaried retirees’ pensions during the 2009 auto
bailout.
Emails
TheDC obtained and first published on Tuesday show senior White House and
Treasury officials were behind the termination of pensions for 20,000 non-union
Delphi salaried
retirees.
Those emails show that
the Treasury Department, led by Secretary Timothy Geithner, was the driving
force behind terminating those pensions — a move made in 2009 while the Obama
administration implemented its auto bailout plan. The emails contradict sworn
testimony in which several Obama administration figures have consistently said
that the decision to terminate the pensions came from the Pension Benefit
Guaranty Corporation (PBGC). The PBGC is a federal agency that handles private
sector pension benefits issues. Its charter calls for independent representation
of pension beneficiaries’ interests.
Twenty-nine U.S.C.
§1342 maintains that 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.
Manhattan Institute for Policy
Research fellow Diana Furchtgott-Roth told TheDC on Tuesday that the Obama administration’s motivation for doing this is
likely its political dislike for non-union workers: “They just rationally pay
off their constituencies, even if they break a few rules in the process, like
the Solyndra approval with George Kaiser in on the White House meetings,” she
said about the Delphi pensions scandal in an email. “We have the best government
money can buy, and union political contributions matter.”
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