Statements Submitted to the Congressional Hearing Today

Chair John Mica
 
  

Statements Submitted to Hearing
Subcommittee on Government Operations,
Committee on Oversight and Government Reform

Oversight of the SIGTARP Report on Treasury’s Role in the Delphi Pension Bailout - September 11, 2013

Witness Statements  |  Key Points by Witnesses  |  DSRA Release  |  Rep Paul Ryan Statement

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.

Oversight Subcommittee to Examine Treasury’s Role in Delphi Deal

Oversight Subcommittee Hearing - Wednesday September 11

Examine Treasury’s Role in Delphi Deal from 2009 “Detroit Bailout”

[2013-09-04]  WASHINGTON- House Oversight and Government Reform Subcommittee on Government Operations Chairman John Mica, R-Fla., today announced a hearing next Wednesday to examine a new inspector general report on the Treasury Department’s role in a controversial component of the Obama Administration’s “Detroit bailout.” In a 2009 deal between government-controlled General Motors and one of its major suppliers, Delphi ~~

Committee Release Announcing Hearing

Issa Subpoenas Treasury for Documents on Delphi Pension Deal

Chair Issa
  
WASHINGTON – House Oversight and Government Reform Committee Chairman Darrell Issa, R-Calif., today subpoenaed Treasury Secretary Jacob Lew for information related to the Committee’s investigation into the preferential treatment afforded to Delphi’s unionized employees during the bankruptcy and taxpayer-funded bailout of General Motors. ~~
 
The subpoena issued today requests all records and communications referring or relating to retirement or pension benefits for General Motors Company and/or Delphi Corporation employees, sent or received by any employee of the U.S. Department of the Treasury, to or from:
 
       
•  any employee of the President’s Automotive Task Force;
•  any employee of the United Auto Workers;
•  any employee of the Pension Benefit Guaranty Corporation;
•  any employee of General Motors Company;
•  any employee of Delphi Corporation;
•  any employee of DPH Holdings Corporation; or,
•  any Public Official.