This on the heels of the DOJ caught LYING about Holder and Obama Admin officials blocking the prosecution of racist, black supremacist, black panther domestic terrorists.

This is the most corrupt and criminal administration the USA has ever witnessed.

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


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.
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.
The White House and Treasury Department have consistently maintained
that the Pension Benefit Guaranty Corporation (PBGC) independently made
the decision to terminate the 20,000 non-union Delphi workers’ pension
plan. The PBGC is a federal government agency that handles
private-sector pension benefits issues. Its charter calls for
independent representation of pension beneficiaries’ interests.
Former Treasury official Matthew Feldman and former White House auto
czar Ron Bloom, both key members of the Presidential Task Force on the
Auto Industry during the GM bailout, have testified under oath that the
PBGC, not the administration, led the effort to terminate the non-union
Delphi workers’ pension plan.
“As a result of the Delphi Corporation bankruptcy, for example,
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,”
Feldman testified on July 11, 2012.
The emails TheDC has obtained show that the Treasury Department, not the independent PBGC, was running the show.


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.