House GOP to investigate WH role in Delphi pension cuts
How will this impact 2012 race in Ohio?
- Duration 7:25
- Date Oct 24, 2012
How will this impact 2012 race in Ohio?
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You during never -- announced today Chris plant he's a radio host and Chris Plante show and Julie -- he is a Fox News contributor and former political advisor to former New Jersey senator frank Frank Lautenberg.
So it seems that I look without getting to bogged down of the -- that the allegation is that the Obama camp stepped in to save the union workers and not the nonunion workers pension.
And although was initially denied it appears according to this Republican lawmaker that's what they did in David Axelrod now let's sort of admitting that they did do something but he says there -- -- greater good.
In terms of their reasons Chris -- how does it play in Ohio 20020000.
Nonunion workers lost their pensions or -- and got it.
Well first of all people have to talk about it so that other people in a -- Ohio.
Are aware of what was going on here the people America should be aware of what was going on here because this is classic.
Chicago style corrupt politicians where you.
-- words your friends and you punish your enemies we know that the unions in the UAW and union leadership.
Are in Obama's camp in the Democrats camp they provide not only funding for reelection efforts but.
Foot soldiers out on the street for get out the vote drives and and other things.
20000 people who -- and his 40000 families were talking about who worked their entire lives to it.
Build up their pensions had -- essentially destroyed dash demolished.
And it's another story that won't be on sixty minutes this week it hit it ought to.
Play very significantly -- to what's going on in Ohio but not if no one talks about it's I'm glad we're talking about it here.
Julie your thoughts yeah hey man I'm so that we are talking about this because we should talk about is why those pensions where -- -- in the first place those pensions were destroyed.
Because Delphi was bought by hedge fund which Mitt Romney invested in an apparently made that fifteen billion million dollars off -- the 2000 currently no he won't release his tax returns but about fifteen million dollars.
In this hedge fund and that Romney invested in.
They've got -- by.
And what Delphi did was essentially say we're not paying his pension obligations of -- removing.
Everything a union job out of Ohio Michigan removing it to China overseas and as a result as a result there's about a 100000 people working for Delphi overseas.
And only about I don't know 5000 or so working here in the states.
That's as a result of this hedge fund and that Romney precedent heat did not want to pay his friends and -- wanna pay.
These people their pensions and that's when the government had to step in.
And absorb some of these pension costs they could absorb all of them but they absorb as much as they could and very glad to hear my Republican friends like Chris now saying that the government should have done more.
They've actually built up more people let you know the funny I don't -- -- -- -- they can't yes they did it dated anyone well that's happened don't forget again -- you know this didn't happen by magic.
Felt -- a lot by hedge fund now anybody's -- that Chris go ahead that's why.
Yeah that's extraordinary adherence to the party talking points it's almost dazzling.
Yeah it's of course a hedge fund that Mitt Romney doesn't manage other people -- manager and that's what we're talking about here is the Obama administration's -- Mitt Romney had no direct or indirect role in any of those but -- extraordinary attack out of -- Yeah I did because Saturday -- a sad I got.
-- I mean.
Look this is not is not about Mitt Romney it's about whether Tim Geithner in the Treasury Department under Barack Obama stepped in to reward their friends while sacrificing the pensions of 20000 families in Ohio.
That's what this is about it's about.
They're stonewalling congress as they attempt to -- perform some oversight role here of this administration it's another scandal it it is another case of Chicago corruption rewarding friends and everyone else -- Asked about this because this whole deal with the bailout of the auto industry and where Romney is -- on and where President Obama -- on and so on has become an issue.
Because the team Obama really thinks it is going to be a winner for them in Ohio and Michigan -- so line.
And it led to this exchange of the debate on Monday night listen.
But the president mentioned the auto industry and that somehow I would -- in favor of jobs being elsewhere nothing could be further from the truth I said they need these companies need to go through a managed bankruptcy.
And in that process they can get government help and government guarantees but they need to go through bankruptcy to get rid of excess cost and the debt burden that they'd they'd built up.
Fortunately Robert Perez and I'll take what you yourself fortunate.
I don't know if you take a look at the robbery you do get a look at the -- -- not saying -- -- who have provided governor help I said that we -- provide guarantees.
And and that was what was a lot able to allow these companies to go through bankruptcy to come out of bankruptcy.
Under no circumstances would I do anything other -- to help this industry get on its feet and the idea that it has been suggested that I would liquidate the industry.
Of course let's check at the height of silliness -- lie about that are set I would article record I would liquidate the -- governor I want to people of Detroit -- and for having.
-- -- the op Ed that he wrote that Mitt Romney who wrote specifically says that the federal government should.
Provide guarantees for the post bankruptcy financing and assure car buyers.
There warranties or not it risky one of them to go through a Chapter Eleven bankruptcy which is not liquidation it's a restructuring.
And then the federal government will be gathered to provide guarantees to help them emerge healthy from a do you deny that you do tell me as a Democrat -- -- you know was right now I change.
Well in that debate I I frankly don't recall that Mitt Romney -- that and I applicant but again and so he said that I we'll take your report Bible also say that Mitt Romney.
Of course profited from the government bailout of the auto industry by virtue of the fact that again.
He invested in the hedge funds -- looking for a time went -- as I just I I -- when it -- -- is it because that was a big deal what what his position was on the hot bed.
And whether and what his position was in the bailout and they had that exchange -- -- night.
And the reason it it caught our attention other than people are interested in it.
Is David Letterman who is -- conservative and certainly no fan of Mitt Romney.
Said this about that exchange last night.
But here's you know here's what upset me last night.
-- did this the playing a fast and loose with facts.
And the President Obama cites the op Ed piece that -- Romney who wrote about the Detroit let him go bankrupt let him go bankrupt and last night he brings up again not now governor you said let it go Bagram -- well let him go bankrupt left and -- said no no -- the thing checked the thing checked the thing now.
I don't care whether Republican or Democrat.
Your president to be telling the truth you want the -- -- contender but to be -- I'm I'm happy to see David Letterman -- check the record.
I remember headline that -- let Detroit go bankrupt the New York Times wrote that headline well it's right -- you know what I did it in New York Times added that headline that the op Ed piece is written by Mitt Romney and -- -- government guarantees you know what I I don't think this thing is that when this was a very unpopular policy back in 2009 and all the Republicans -- saying this is a horrible bailout -- possibly do -- government motors silence so bored -- Not saying we should contribute one dime to the bailout of auto industry not one dime pension -- -- All the Clinton now they're coming in and staying -- is David camp wants to hold hearings why didn't we do more of my enemy is my -- getting my Elena.
Last word coming up against a break -- Chris you know it's just extraordinary keep circling back to the same falsehoods.
And this is about Obama administration corruption bailing out their friends rewarding their friends -- -- thousand families.
Worst rod in this whole thing the fact that David Letterman as on the side of Mitt Romney gonna walk outside your red sky.
I got to thank you -- some.