Bailout Watch 580: Senate Moves on $3 Billion for Delphi Pensions
Published: September 14th, 2009
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We noted a few months back that $6.25B worth of Delphi pensions were being dumped on the Pension Benefit Guarantee Corporation, in what we termed part of GM’s “stealth bailout.” The Detroit News reports that bills have been introduced in the Senate and House now that would appropriate $3B worth of stimulus funds towards paying those obligations. “There was a promise made that health benefits would be available for Delphi employees when they entered their golden years and we are going to leave no stone unturned in our effort to see that they get what they’ve earned,” says Rep. Tim Ryan (D-OH), who introduced the House version of the bill.
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This bill is as ugly as the most noted resident of Pearsonville CA.
I dont think it was the taxpayers who made that promise, so why are we footing the bill?
That almost looks like the bat mobile... Er "tumbler"