Corruption in GM Bailout
Sometimes people ask stupid questions and sometimes people pretend to investigate something even though the results are predetermined. WaPo aks if politics was behind the government's decision to preserve the UAW pensions while turning GM and Delphi salaried pensions over to the PBGC.
Neil Barofsky, special investigator for bailout funds, is looking into whether politics played a role in the pension fiasco at GM and Delphi.
Delphi salaried pensions were funded at 86% and PBGCs threshold for terminating pensions was 81%. The UAW pension fund had to be topped off with $200M bailout bucks to get it to the required 81% threshold. These facts suggest something was very wrong.
Obama invoked class warfare and political payoffs to the UAW by maintaining UAW pensions at 100% while dumping GM and Delphi salaried bourgeoisie into PBGC with reduced pensions. He trampled the Constitution, law and fair play with this tyrannical criminal behavior. The thug may as well have handed out bribes at the polls with taxpayer money.
Barofsky will pretend to investigate this abuse for awhile then report to his boss that nothing was wrong. The media will claim justice served and the matter will be forgotten by most people. Except the thousands of GM and Delphi salaried retirees and their widows who will remember this betrayal until their eyes close for the last time. Before they die, they will tell friends, family and neighbors about this shameful treatment and a taint will cling to GM, Delphi and socialist thugs for decades.As it should.
Let us pretend that you are a valued employee who gave years of faithful service and I am a good employer who kept my promises to all my employees. It is a pleasant fiction, is it not?
Neil Barofsky, special investigator for bailout funds, is looking into whether politics played a role in the pension fiasco at GM and Delphi.
Delphi salaried pensions were funded at 86% and PBGCs threshold for terminating pensions was 81%. The UAW pension fund had to be topped off with $200M bailout bucks to get it to the required 81% threshold. These facts suggest something was very wrong.
Obama invoked class warfare and political payoffs to the UAW by maintaining UAW pensions at 100% while dumping GM and Delphi salaried bourgeoisie into PBGC with reduced pensions. He trampled the Constitution, law and fair play with this tyrannical criminal behavior. The thug may as well have handed out bribes at the polls with taxpayer money.
Barofsky will pretend to investigate this abuse for awhile then report to his boss that nothing was wrong. The media will claim justice served and the matter will be forgotten by most people. Except the thousands of GM and Delphi salaried retirees and their widows who will remember this betrayal until their eyes close for the last time. Before they die, they will tell friends, family and neighbors about this shameful treatment and a taint will cling to GM, Delphi and socialist thugs for decades.As it should.
Let us pretend that you are a valued employee who gave years of faithful service and I am a good employer who kept my promises to all my employees. It is a pleasant fiction, is it not?
posted by lugh lampfhota at 7:01 PM
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