Govt to Investigate Obama’s Big Labor Bailout
September 15th, 2010Ben Johnson, FloydReports.com
Barack Obama is facing yet another well-deserved corruption investigation. Neil Barofsky, the special inspector general who oversees federal bailouts, has announced he will look into what the New York Times calls “a lingering mystery”: why the government fully funded the pensions of union workers at Delphi following Obama’s hostile takeover of General Motors, while the government simultaneously gutted the retirement accounts of non-union employees.
Some 21,000 white collar employees of the GM spin-off company, Delphi, will see their pensions lose 30 to 70 percent of their value. To put that in perspective, a small city of retirees who thought they earned an annual retirement of $75,000 will receive less than $23,000.
On the other hand, members of the United Auto Workers….
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