Congressman Mike Turner (OH-3) grilled former Auto Task Force officials at the House Oversight and Government Reform’s Subcommittee on TARP, Financial Services, and Bailouts of Public and Private Programs hearing entitled - The Administration’s Auto Bailouts and the Delphi Pension Decisions: Who Picked the Winners and Losers? The hearing follows a May 14th letter sent by Turner requesting a hearing with testimony from those who allegedly made the decisions within the Pension Benefit Guarantee Corporation (PBGC) that resulted in approximately 20,000 salaried Delphi retirees from across the country taking a severe cut in their pension benefits.
Turner’s letter to Chairman Issa requested that the Committee interview three former Auto Task Force members who have refused to meet with the Special Inspector General for TARP (SIGTARP) on the treatment of Delphi pensions. During the hearing the officials agreed to meet with SIGTARP within the next two months. Previously, the former Administration-appointed officials had avoided providing answers sought by taxpayers and Congress. This was brought to Turner’s attention in a May 9, 2012 letter from SIGTARP stating that the individuals had refused to meet, and that it was SIGTARP’s belief that they were involved with the decision to terminate the pensions.
Watch Turner’s Opening Statement