UAW Files Charges Against Romney on his Auto Bail-out Profiteering

So here's an interesting look at the man who very well could become our next president - it looks like Romney, while criticizing Obama on how he handled the auto-industry bail out, was raking in the cash thanks to the auto industry's recovery.

Fortunately he will be facing charges for violating the Ethics in Government Law.

At a press conference in Toledo, Bob King, President of the United Automobile Workers, will announce that his union and Citizens for Responsibility and Ethics in Washington (CREW) have filed a formal complaint with the US Office of Government Ethics in Washington stating that Gov. Romney improperly hid a profit of $15.3 million to $115.0 million in Ann Romney's so-called "blind" trust.

“While Romney was opposing the rescue of one of the nation’s most important manufacturing sectors, he was building his fortunes with his Delphi investor group, making his fortunes off the misfortunes of others,” King added.

The UAW complaint calls for Romney to reveal exactly how much he made off Delphi -- and continues to make. The Singer syndicate, once in control of Delphi, eliminated every single UAW job --25,000-- and moved almost all auto parts production to Mexico and China where Delphi now employs 25,000 auto parts workers.

So how is Romney connected to Delphi?

In 2009, Ann Romney partnered with her husband's key donor, billionaire Paul Singer, who secretly bought a controlling interest in Delphi Auto, the former GM auto parts division. Singer's hedge fund, Elliott Management, threatened to cut off GM's supply of steering columns unless GM and the government's TARP auto bail-out fund provided Delphi with huge payments. While the US treasury complained this was "extortion," the hedge funds received, ultimately, $12.9 billion in taxpayer subsidies.

The big story here, however, is not that Romney is a profiteering, lying turd; but that he has until now effectively hidden this profit from the American People:

At a press conference in Toledo, Bob King, President of the United Automobile Workers, will announce that his union and Citizens for Responsibility and Ethics in Washington (CREW) have filed a formal complaint with the US Office of Government Ethics in Washington stating that Gov. Romney improperly hid a profit of $15.3 million to $115.0 million in Ann Romney's so-called "blind" trust.

This is a man with no morals. He will lie, cheat, and steal to get what he wants. He is not interested in representing the American People, but rather in representing his business associates and their bankrolls. If our only choice is to choose between the lesser of two evils, then Romney is definitely not the correct choice.


www.thenation.com...#

current.com...

www.dailykos.com...

This also explains why Romney will not disclose his full tax record, as almost every president before him has done.

Additionally, if Romney really is profiting off an investment firm that is receiving a large portion of it's money through tax-payer dollars, isn't that essentially welfare for the rich? What's the difference between taking millions of tax dollars through clever investing and getting $700 a month to feed your kids?

Did I miss the memo that says it's ok to take tax payer money so long as you are taking it by the truckload?

Here's a better source,direct from the UAW.

Heh.

Guy would teach his grandmother to suck eggs. I didn't know about this particular little enterprise--but neither am I surprised.

And the sad part is that Obama's no better--for different reasons. Next 4 years ought to be interesting either way....

They filed a complaint.....innocent until proven guilty...or not for someone running against Obama?

Filing a complaint does not mean charges......but keep scraping the bottom of the barrel......only 5 days better hurry.

I don't get it. The Ethics in Government Act only applies to people in government. Romney isn't in government and won't be until early 2013. It seems there is no basis to this claim. Could it just be a publicity stunt? A smear?

reply to post by charles1952


It's a smear and the title of the op is a LIE....no charges.

Originally posted by charles1952
I don't get it. The Ethics in Government Act only applies to people in government. Romney isn't in government and won't be until early 2013. It seems there is no basis to this claim. Could it just be a publicity stunt? A smear?

I agree...what Government job is he in?

Wait....how about Obama ear marking 1 million to the hospital that Michelle worked for during his first year as a senator, and her pay check magically went from 120k per year to 350k per year....

reply to post by Xtrozero


Now that's a proper example.

what a load of crap.

obama destroyed delphi, and stole their pensions.

then gave billions to the uaw.

the uaw better hope romney doesn't get elected.

Just another distraction for the voters brought to you by the ever powerful UAW with their endless supply of member supplied forced dues to spend on crap like this. Anything to create buzz...

It was mentioned earlier that there are no charges only speculation.... Enough speculation for the typical Web sites to buy and spread without warrant... The unions are out to protect the man who saved their pensions and benefits while destroying the livelihood and futures of those who are non union at Delphi.

The real story should be How Obama's administration was involved with the mess at Delphi..

Internal Treasury Department documents described as “highly confidential” and obtained by The Daily Caller show a greater level of involvement in the Delphi pension scandal from senior officials in the Obama administration than has been previously acknowledged.

A July 2009 document prepared by the Pension Benefit Guaranty Corporation (PBGC) titled “Treasury Talking Points re: Delphi” shows coordination between high-level players inside the PBGC and Treasury Department. The document was an attachment to a July 7, 2009 email from PBGC’s Joseph House to Treasury’s Matthew Feldman, Oren Haker and Paul Nathanson.

Hang your hats on this

The “talking points” document also shows that on July 10, 2009, three days before General Motors exited bankruptcy, the company coordinated its messaging with Treasury and the PBGC about the hourly and salaried Delphi pension plans that would soon be terminated.

Read more: dailycaller.com... l/#ixzz2B5Bt0Dez


to the UAW

reply to post by TinkerHaus

OK, wait.
The UAW and Obama administration killed Delphi (I had several thousand shares reduced to $0.00 by them).
The UAW and Obama Treasury destroyed Delphi retiree's pension plan.
The UAW and Obama administration profited from the GM and Chrysler bailouts, for which the taxpayers are still facing a $26 BILLION loss.

And now, these idiots are "filing charges" against someone who holds no public office, and has not been shown to have personally venefitted (as opposed to the UAW, its leadership, and Barack Obama and his campaign funds)?

FAIL!

Try harder next time to spin-up BS into "news" for your fallen idol.

jw