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Mitt's dirty little secret

by Ziks511 / October 20, 2012 12:20 AM PDT

"Mitt Romney's opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney's November 2008 New York Times op-ed, "Let Detroit Go Bankrupt."

But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney's most important Wall Street donors made more than $4 billion. Their gains, and the Romneys', were astronomical—more than 3,000 percent on their investment."


Greg Palast, the author is an economist and writer.

Delphi, the autoparts supplier was acquired by a hedge fund, which then took all the money it could get from the GM bailout. That's how Republicans and the wealthy, seem to have it both ways, and make money regardless of who wins the issue.


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Delphi was formerly known as Delco, and was spun off
by Ziks511 / October 20, 2012 2:05 AM PDT

GM around 1999 for some reason, went bankrupt and then became the prey of vulture capitalists who buy up debt for cents on the dollar. As noted, these vultures profitted from the bail out opposed by Gov. Romney to the tune of more than 3000%.


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So both Romney and his running mate......
by Josh K / October 20, 2012 2:06 AM PDT

.......benefited from the bailout they both claim to have opposed. Ya gotta love it.

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(NT) I'm glad the democrats were not the only beneficiaries.
by lylesg / October 20, 2012 2:55 AM PDT
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Speaks to great character!
by James Denison / October 20, 2012 3:13 AM PDT

Mitt was against something that he knew would enrich him greatly. Shows good character and willingness to sacrifice. Thanks for pointing that out.

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by JP Bill / October 20, 2012 3:57 AM PDT
Mitt was against something that he knew would enrich him greatly.

What if he takes the same position with something that would enrich America?
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Polar opposites
by James Denison / October 20, 2012 4:44 AM PDT
In reply to: HOLD ON NOW, James

not even an analogy, because being selfish versus being selfless are polar opposites of each other. Try again?

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Mitt was against something that he knew would enrich him
by JP Bill / October 20, 2012 5:10 AM PDT
In reply to: Polar opposites

Mitt was against something that he knew would enrich him greatly.

And after he got enriched he was still against it.

He took the money begrudgingly....

Actions speak louder than "words"?

Here's what we do up in Canada when money is forced on us.

But he never wanted a condominium, a boat or a flashy car. He ultimately found other ways to spend the cash, saying he blew about one-half of it at the Montreal Casino.

"It was my way of putting this money back into the coffers of the state," Surprenant said. "It was my way of paying a kind of tax."

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Delphi didn't demand the money ...
by Edward ODaniel / October 21, 2012 1:50 PM PDT

it was GIVEN THEM by GM because GM needed the Delphi parts and the auto labor unions pressured GM for the 25,000 Delphi union workers.

OBAMA and his people were the driving force behind " the Auto Task Force with the goal of saving GM, Chrysler, their suppliers and, most important, auto industry jobs. Crucial to the plan was saving Delphi"

I will leave it to YOU to discover the names of the multitude of Democrats and Socialists (start with Soros) who also profited from the unconstitutional bailouts and redistribution of taxpayer's wealth.

Were it not for "vulture capitalists" many currently successful companies would have gone out of business leaving hundreds of thousands of workers unemployed and in many instances without retirement accounts which are often heavily invested in the company shares.

Take a few moments now and tell us about the Clinton's land scheme killing that was not strictly in accordance with established law while venture capitalists earnings are entirely legal and legitimate. The author should have spent at least a little time explaining that not all ventures end with huge profits as many end with huge losses.

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