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Published on Oct 24, 2012
Ways and Means Chairman Dave Camp (R-MI) sent a letter to Department of Treasury Secretary Timothy Geithner and the White House Counsel signaling a willingness to subpoena all records associated with the termination of Delphi pensions if they decline to fully comply with a congressional request for documents.
"Despite repeated assertions that the Obama Administration would be the most transparent in history, Treasury and the White House have continued to stonewall this request," said Camp. "This investigation has led to more questions than answers, and it is time the Administration comes clean about the role it played in the slashing of the pensions of 20,000 Delphi employees. I understand the answer may be difficult to explain in states like Michigan and Ohio, but politics cannot dictate the timing of when the American people learn the truth. If the Administration fails to act in a timely manner, they may well find themselves on the receiving end of a subpoena that compels their cooperation."
To date, Treasury has provided two inadequate productions of documents, while the White House Counsel has provided no documents, stating that it was "unnecessary at this time." Contrary to Treasury's assurances of no involvement, or only as a facilitator between GM and PBGC, emails the Committee received show that top officials at Treasury were assessing the "politically sensitive" nature of the Delphi pension terminations and were heavily involved in decisions concerning Delphi pensions. Documents show Treasury convening meetings, providing comments on draft settlement agreements, and conferring with General Motors and Delphi officials apart from PBGC.