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November 17, 2011

Obama, Unions, Corrupt, Etc. #4,896

MORE.

It just keeps coming out, bit by bit.

Back to the GM bankruptcy again. Think the bondholders and taxpayers were the only ones that got boned? Oh, no, no no.

Is there a single instance where this administration, when faced with a choice, did not default to screwing people and then giving the proceeds to their friends?

How is this not a brazen daylight robbery?

DAYTON — The U.S. House of Representatives Committee on Oversight and Government Reform demanded answers in a local hearing Monday on why pensions for salaried retirees of Delphi were treated differently than pensions for other company retirees.

At issue is the fact that salaried Delphi retirees saw cut their pensions cut by 30 to 70 percent when the pensions were transferred to the federally backed Pension Benefit Guaranty Corp. in 2009, while General Motors elected to support or “top off” the pensions of retirees represented by three large unions.

Many of these folks worked their whole lives for GM/ Delphi and their pensions were nearly wiped out during the bankruptcy proceedings, while the union folks' were actually enhanced.

Please read the whole article. It helps to have something to bite down on, like a strip of tree bark, or a leather wallet.

From Darrell Issa's Twitter feed; he refers to this event as the Delphi pension "heist." There is no more apt description.

Everything this administration does is of a piece. Remember: "...we're going to punish our enemies and we're going to reward our friends."

Suckers of cock.


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posted by LauraW. at 12:43 PM

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