Obama Auto Team had big role in Delphi Pension Decisions, Inspector General Says

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) today released a significant report regarding the involvement of the U.S. Treasury in decisions that affected thousands of Delphi salaried retirees' pensions – decisions related to the "quick rinse" bankruptcy proceedings for General Motors and Delphi.

House Oversight and Government Reform Committee Chairman Darrell Issa (R-CA), and Congressman Michael Turner (R-OH) today released statements on the SIGTARP report:

  • “The Obama Administration said time after time that it would not play a role in the day to day operations of GM,” said Chairman Issa. “The SIGTARP report finds, unequivocally, that Treasury usurped authority at GM and played a heavy hand in decision-making at the company. This is troubling news that lends credence to the fact that the federal government essentially took over a private company and made decisions that chose winners and losers.”
  • “The report released today completely discredits the Administration's statement that they did not influence GM and were not involved in GM's or the PBGC's decision making,” added Turner.

DSRA is pleased and encouraged to see the detail of the SIGTARP report and is considering the implications of its significant content.