Collateral damage tarnishes auto bailouts

Daniel Howes, Detroit News, remembers Delphi Salaried Retirees again……….

….. that the federal government used taxpayer dollars to favor one class of people (dues-paying UAW members and retirees) over another (salaried retirees of Delphi Corp.), and that the feds insisted subordinate UAW claims should be accorded higher priority in bankruptcy than secured bondholders……

Thank you Mr. Howes.   Click here for the Detroit News article