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According to The Daily Caller, United States Treasury Secretary Timothy Geithner drove the cut-off of non-union Delphi workers' pension plans. In his August 7th article, Matthew Boyle reported that US Treasury Department emails reveal that the agency, under the direction of Timothy Geithner, was responsible for pushing ahead with terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company. Apparantly, these pensions were cut because the employees were not members of labor unions. According to Boyle, the internal emails conflict testimony under oath in federal Court and before Congress by former Treasury official Matthew Feldman and
Obama's appointed auto "Czar" Ron Bloom. They both affirmed in court that the Pension Benefit Guaranty Corporation independently made the decision to cut the non-union pensions. Matthew Boyle's article asserts that emails obtained by The Daily Caller, reveal that the Treasury Department actually was responsible for cutting these pensions. Under federal law, the PBGC is the only entity that can legally initiate termination of an employee pension plan. This means that members of the Obama administration is guilty of violating at least two federal laws: Perjury and federal stature 29 U.S.C. §1342. The Daily Caller also claims that the internal emails they hold show that the White House was involved in the decision making process. News of this scandal is coupled with recent news that Treasury Secretary Timothy Geithner also had prior knowledge of illegal pilfering of investors by Barclays of London, Citigroup, and J.P. Morgan Chase since 2008, but had failed to initiate any government action after accepting his appointment as Secretary of the United States Treasury in 2009.
(Hat Tip: Matthew Boyle of The Daily Caller)