Government Motors Bailout

The President talked about shared sacrifice, the President said the Government wouldn't manage GM...  The President was less than honest..

The Administration was actively involved in the management of GM, and made sure the sacrifices were shared among everyone but the Unions and their members.

Private emails detail Obama admin involvement in cutting non-union worker pensions post-GM bailout

New emails obtained by The Daily Caller contradict claims by the Obama administration that the Treasury Department would avoid “intervening in the day-to-day management” of General Motors post-auto bailout.

These messages reveal that Treasury officials were involved in decision-making that led to more than 20,000 non-union workers losing their pensions. (General Motors not eager to be political talking point in 2012)

Republican Reps. Dan Burton and Mike Turner say that during the GM bailout, Treasury Secretary Timothy Geithner decided to cut pensions for salaried non-union employees at Delphi, a GM spinoff, to expedite GM’s emergence from bankruptcy.
At a Wednesday hearing, the House Oversight Committee’s Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending started pushing the Treasury Department for answers on the effects of the bailout and on how much of a role the department played in picking winners and losers.

The key point of the Wednesday hearing was to show that the Obama administration advised GM on how to eliminate the Delphi workers’ pensions. The evidence suggests Geithner’s team played a significant role in that process, despite claims to the contrary.


Read more: http://dailycaller.com/2011/06/22/private-emails-detail-obama-admin-involvement-in-cutting-non-union-worker-pensions-post-gm-bailout/#ixzz1Q5l3yotQ