{"id":9313,"date":"2012-11-02T08:40:23","date_gmt":"2012-11-02T15:40:23","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=9313"},"modified":"2012-11-02T08:40:23","modified_gmt":"2012-11-02T15:40:23","slug":"romney-sued-over-milking-auto-bailout","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2012\/11\/02\/romney-sued-over-milking-auto-bailout\/","title":{"rendered":"Romney Sued Over Milking Auto Bailout"},"content":{"rendered":"

Despite Willard Romney\u2019s duplicitous attempts to take credit for the auto industry recovery, he opposed Obama\u2019s bailout that saved it.  He wanted to put them into a managed bankruptcy to be bailed out with private investment.  But at that point in the Republican Recession, there was no private capital available, so they would not have made it out of bankruptcy.  He even said that Obama\u2019s plan would put Detroit out of business permanently.  However much he opposed it, he was not above inserting himself in the path of the bailout money.<\/font><\/p>\n

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\"2Delphi\"It seems Republican nominee Mitt Romney still cannot shake the demons of the auto industry bailout he supposedly opposed, and a new one looks like it may well haunt him just days before the Presidential election.<\/p>\n

The biggest auto workers’ union and several government and public interest groups say that they have filed an ethics complaint against Romney, alleging \u201cserious conflicts of interest\u201d and calling for the presidential nominee to release information about what they say are millions he made from the industry bailout. At issue are alleged investments the Romneys made in a hedge fund that owned a controlling interest in Delphi Auto, the former GM auto parts division.<\/p>\n

Through the money that the federal government provided to prop up the automakers and their suppliers, Delphi received huge payments — ultimately $12.9 billion in taxpayer subsidies — and the hedge fund that the Romneys had invested in received a significant return, according to published reports.<\/p>\n

\u201c(The hedge funds’)  gains, and the Romneys\u2019, were astronomical \u2014 more than 3,000 percent on their investment<\/strong>,\u201d The Nation Magazine said in an investigative article last month.<\/p>\n

The United Automobile Workers, or UAW, announced that it is calling upon the Office of Government Ethics to investigate Romney for alleged noncompliance with the Ethics in Government Act. They also want that authority to force the nominee to either \u201cdisclose his investments or divest them.\u201d<\/strong>\u2026 [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <IB Times<\/a>><\/p>\n

Photo credit: IPA<\/a><\/font><\/p>\n

Ed Schultz covered the ethics complaint with UAW President Bob King.<\/font><\/p>\n

<\/embed><\/object><\/font><\/p>\n

Visit NBCNews.com for breaking news<\/a>, world news<\/a>, and news about the economy<\/a><\/p>\n

In effect Romney and his hedge fund pals blackmailed GM to steer rescue funds into their pockets.  No wonder he\u2019s afraid for us to know what’s in his tax returns.<\/font><\/p>\n

\"Vote_Check-mark\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Willard Romney\u2019s duplicitous attempts to take credit for the auto industry recovery, he opposed Obama\u2019s bailout that saved it.  He wanted to put them into a managed bankruptcy to be bailed out with private investment.  But at that point in the Republican Recession, there was no private capital available, so they would not have […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-9313","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/9313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=9313"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/9313\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=9313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=9313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=9313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}