Members of Congress want to know why the company’s assets weren’t liquidated to satisfy pension obligations.
For Delphi retirees, the fight for their pensions goes on.
It continues on two avenues — through a lawsuit in a federal court in Detroit and with the aid of legislators. And it’s the latter that is getting attention these days.
Congressman Chris Lee of New York state has called for an investigation by the special inspector general for the Troubled Asset Relief Program (TARP) into how the pensions of Delphi retirees were surrendered last summer to the federally backed Pension Benefit Guaranty Corp. (PBGC). U.S. Rep. Mike Turner, R-Centerville, supports that call.
Read more at the Dayton Daily News.