‘Highly confidential’ internal Treasury documents show Obama administration’s deep involvement in Delphi pension scandal

nternal Treasury Department documents described as “highly confidential” and obtained by The Daily Caller show a greater level of involvement in the Delphi pension scandal from senior officials in the Obama administration than has been previously acknowledged.
A July 2009 document prepared by the Pension Benefit Guaranty Corporation (PBGC) titled “Treasury Talking Points re: Delphi” shows coordination between high-level players inside the PBGC and Treasury Department. The document was an attachment to a July 7, 2009 email from PBGC’s Joseph House to Treasury’s Matthew Feldman, Oren Haker and Paul Nathanson.
The talking points show that the PBGC thought the “[v]ast majority of individual’s [sic] covered by Delphi [pension] Plans” were “career GM ‘brethren’ distinguishable only by the 1999 spin-out” of Delphi from its former parent company, General Motors.

Only those “brethren” who were union members, however, saw their pensions preserved in the 2009 auto bailout. Nonunion Delphi retirees lost theirs.
It’s unclear whether Treasury also held the view that only Delphi’s spinoff differentiated one group of employees from the other.  But a congressional source familiar with investigations into the Delphi pension scandal told TheDC that “[b]ased on documents received in the course of this years-long investigation, it would not be surprising if Treasury worked in concert with PBGC to draft this particular document.”
Ohio Republican Rep. Mike Turner, has been leading the charge in Congress. He has made the same argument, that Delphi workers and retirees who lost their pensions in the bailout filled the same role as unionized employees of GM itself.

Read more: http://dailycaller.com/2012/10/28/highly-confidential-internal-treasury-documents-show-obama-administrations-deep-involvement-in-delphi-pension-scandal/#ixzz2AgDfH2Wk