REPOST with UPDATE: !!!!!! UAW Charges Romney With Profiteering From Auto Bailout – viralize this one!

UPDATE: It is about 8:45 pm Pacific Time here (three hours earlier than the East Coast of the United States). I’ve Googled this story title, and it is going viral on the internet, BUT not one single major news organization is reporting this story, except Huffington Post, which is telling the story in a very mild fashion. Since about 5:45, organizations like Truthout, NationfofChange, and The DailyKos have begun to run the story. Can the major news outlets keep this story from us? Will they try? ~J

Earlier today:

I’ll be interested to read all about this in the MSM, if indeed they have the courage to talk about it! ~J


EXCLUSIVE: GREG PALAST FOR BUZZFLASH
Source: TRUTHOUT

detroit

Toledo, Ohio – Wednesday Evening October 31, 2012

For Mitt Romney, it’s one scary Halloween.  The Presidential candidate has just learned that tomorrow afternoon (November 1) he will be charged by the United Automobile Workers (UAW) and other public interest groups with violating the federal ethics in government law by improperly concealing his multi-million dollar windfall from the auto industry bailout.

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.

The union chief says, “The American people have a right to know about Gov. Romney’s potential conflicts of interest, such as the profits his family made from the auto rescue. It’s time for Gov. Romney to disclose or divest.”

“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 Romneys’ gigantic windfall was hidden inside an offshore corporation inside a limited partnership inside a trust which both concealed the gain and reduces taxes on it.  

The Romneys’ windfall was originally exposed in Nation Magazine (and reposted on Truthout,) Mitt Romney’s Bail-out Bonanza after a worldwide investigation by our crew at The Guardian, the Nation Institute and the Palast Investigative Fund.

The full story of Romney and his “vulture fund” partners is in the New York Times bestseller, “Billionaires & Ballot Bandits,” available from Truthout with a contribution by clicking here.

According to ethics law expert Dan Curry who drafted the ethics complaint, Ann Romney does not have a federally-approved blind trust.  An approved “blind” trust may not be used to hide a major investment which could be affected by Romney if he were to be elected President.  Other groups joining the UAW and CREW include Public Citizen, the Service Employees International Union (SEIU), Public Campaign, People for the American Way and The Social Equity Group.

President Obama’s approved trust, for example, contains only highly-diversified mutual funds on which presidential action can have little effect.  By contrast, the auto bail-out provided a windfall of over 4,000% on one single Romney investment.

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 bailout 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.  

As a result, the shares Singer and Romney bought for just 67 cents are today worth over $30, a 4,000% gain.  Singer’s hedge fund made a profit of $1.27 billion and the Romney’s tens of millions.  

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.

Forensic Economist Greg Palast’s investigative reports can be seen on BBC Television.  His latest bestseller, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps contains a comic book by Ted Rall and chapters by Robert F. Kennedy Jr.  “Billionaires & Ballot Bandits” is available along with Palast’s “Why We Occupy” DVD directly from Truthout by clicking here.

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15 Responses to REPOST with UPDATE: !!!!!! UAW Charges Romney With Profiteering From Auto Bailout – viralize this one!

  1. Maggie says:

    Roberto,

    Thanks so much for putting the truth out for all to hear and understand. President Obama has always said that he could not do it alone, that he needs our help and that together we can build a bright future. Perhaps we all need to start operating from our hearts. after all, it has a bigger brain!

    Why not join in a movement, a wave if you like, together? Why not give it a try and throw your support behind a powerful leader who has proven to be up to the task, even though he had to do it, so far, without the support of the people in this country who he really cares about and works for.

    At least in this group, who’s messages I’ve been reading for the past 2 yrs, let’s give supporting our President a try?? We won”t ever know unless we try it, and this is the perfect opportunity to do so. Can we all focus over this weekend on unity and a common cause to save our world.

    One other thing, about the NDAA, just remember who else can influence the President”s signature and don’t forget that initially it was reported that he signed it with a cavaet that it would not be used as long as he was the sitting president. I hate to state the obvious but it would scare the hell out of me if a guy like Romney had authority under that law!

    Can we all give peace, joy and love a chance?

  2. bacalove says:

    MSNBC & Current TV are the only ones really reporting the truth about Mitt Romney and the Republcan lies. Try to give Current TV more support if you can. They are really great reporters. We have to email CNN or Twitter with link to the story and ask why they are not reporting it. You know Faux won’t.

    • Thank you, bacalove. I watch Bill Press and Stephanie Miller (Current), Thom Hartmann (FreeSpeechTV), Sharpton, Shultz, Maddow and O’Donnell (MSNBC) for most msm news. The bulk of what I learn is from alternative news sources, including this blog. CNN and Fox “Faux” News I avoid like the plague. Keith Olbermann may be coming back!

  3. Nicki Tompkins says:

    I pray there isn’t any election this year to totally wake everyone from their political slumber. Sgt Mac is correct, you don’t vote, the Electoral College allegedly does. I say allegedly because only shareholders of THE UNITED STATES OF AMERICA corporation will vote. That probably includes congress, George Soros and his cronies. We haven’t had a government since 1871, when the US was incorporated in England.

    I truly believe our energies would be much better put to use if we would focus on the Golden Age without a so-called government of any kind and all the agencies that have been created to control us.

  4. Energy says:

    Sgt Mac, it will be interesting to see how many voters designate themselves as Independent this election. It might indeed be a “shot heard around the world”.
    Both parties are corrupt. (Sorry Roberto)
    If in fact we have a financial reset, an Ascencion (notice how almost no one talks about that anymore?) then we will see new leadership. If we have to do it the old fashioned way, through elections etc….we may not have time before they bring us all down with the one world order through a financial crash. The one thing that they have not been able to stop is the self defense of the American people. I pray it does not come to that.

  5. Sgt.Mac says:

    Wall street has its two parties, it’s time we the people had our own!

    We the people do not elect the POTUS, the Electoral College does.

    It won’t matter who you vote for, it will be business as usual, just the money going into a different pocket

    I encourage everyone to change their party affiliation to INDEPENDENT, make them work for your vote!

    If “WE THE PEOPLE” do this it WILL SEND A MESSAGE to the “powers that be” THAT WE’RE MAD AS HELL AND WE’RE NOT GOING TO TAKE IT ANY MORE!
    Imagine if all the RED and BLUE States all turned GOLD and SILVER(real money feels soooo different and keeps its value).

    READ THE CONSTITUTION AGAIN!(if you don’t have a copy, google it) Only it and the wisdom of our forefathers can save us.

    Sgt. Mac – USMC – Vietvet – I served so YOU could be FREE! Financial terrorism is not freedom, It makes us ALL SLAVES.

    If you agree, help me POST THIS.

    Please help me make this go viral!

    COPY & PASTE EVERYWHERE! You don’t need my permission.

  6. Jean ~ Ed Shultz, Rachel Maddow and Lawrence O’Donnell briefly mentioned this story on MSNBC tonight, enough to cause alarm. Here’s more on this story…

    GREG PALAST – UAW Files Ethics Charge On Romney For Auto Loan Profits (video)

    Related story…

    Harry Reid Was Right: Mitt Romney Paid No Taxes for 15 Years
    http://cadesertvoice.wordpress.com/2012/11/01/harry-reid-was-right-mitt-romney-paid-no-taxes-for-15-years/

  7. Pingback: Jean Haines – Repost With Update: UAW Charges Romney With Profiteering From Auto Bailout – Viralize This One! – 2 November 2012 | Lucas 2012 Infos

  8. Roberto says:

    Damon, and Kibitser3,

    Could there please be an end to Obama bashing? Even in the subtle ways?
    He did the best he could under the circumstances, i.e., in spite of the fact that the Republican Congress swore to make him fail every chance they could. And the media attacked his every move. Remember, Obama has to take orders or his chidren die. I don’t think you would be so principled if you were encircled with secret service men, who are there to make sure you tow the line or your children get their throats cut…. as we have recently seen with the newsman who reported on the 43 trillion law suit.

    Think on it a moment. Given our support Obama could make some changes. Obama is there because this is his personal spiritual challenge. Have some kindness for him– you may very well need it yourself when you fall down and made a mistake on your next challenge.

    That Gary Johnson, Jill Stein, or Rocky Anderson are running for president does not mean that they have the necessary backbone to stand up to the stress level that our present president must endure and overcome every day.

    Try putting your head in the mouth of the wolf and running your day. Obama stood his ground against the warmonger from Israel. That was not an easy task. Mr. O. doesn’t want war, he wants to make life better for the poor and middle class, given some support, he very well could do that.

    Let us stop haggling and nitpicking and just support him.

    The times may have been rough, but Obama has stood his ground and done what he could and gritted his teeth at the terrible things he had to sign his name to. The times are going to get a lot rougher. We need a cool headed man at the helm to help guide us forward so we come out of the tunnel of darkness.

    Divide and conquer has been the modus operandi of the cabal/illuminati/draconian/reptilians. Let us not fall into their trap on this big one. Observe where you are getting your opinions that you so vociferously spout… Who has shaped them?

    Vote for whom you will, but for your own divine sake, be kind.

    • Bill(of rights) says:

      “Amen” Roberto all the misinformation types are slowly revealing themselves as desperation for the real criminals is ramping up. Romney will be tasked for the thief/murderer he is. The zionist or right wing Christians that think they know better than anyone else Called a double STANDARD have nothing but BS. The real christian wouldn’t even think of controlling anyone BUT THEMSELVES!!!! Now we need to keep these people on message and answer the questions directly and quit beating arround the bush by attacking the messengers!!

    • Lynne Rassbach says:

      Excellent post! There are many long lists of Obama’s accomplishment since taking Office, which so many ignore. I am personally amazed at what he has done. I am also angry about many of his decisions and oversights. I have come to understand why this is so, but I will not accept it. The bottom line is he is a humanitarian deluxe…especially when compared to Romney. I will be voting for him. Then, I will continue my activism to encourage him to bring out the truth so that justice is once again a part of our American…and World life. NDAA and Banksters must GO! 9/11 must be brought to light. Free Energy technology must be released (revered) and spread throughout the World. We are the ones to spread truth and change to our friends and family. We are the beginning. I believe a change is happening, and we have to work as hard as we can to continue it.

  9. Damon says:

    It would be awesome for this transparency to explode across the nation! One ‘Naughty Republican’ out, one ‘Naughty’ Democrat to go! Can you say Gary Johnson, Jill Stein, or Rocky Anderson?

  10. BLESS*SINGS TO BOTH OF YOUR RESPONSES

  11. ohnwentsya says:

    Reblogged this on 2012 Spirit In Action and commented:
    I hope that the mainstream news will report important stories like this in a timely fashion, but until they do please share widely. You don’t have to like President Obama to notice his current opponent engages in criminal behaviour. I just read from a comment on another article that his vote flipping in the primary helped to eliminate the immensely popular Ron Paul from the Republican competition. Had Mr Paul been the Republican nominee I would still have voted for President Obama, but I would not have been so disturbed by the alternative. Even tho I disagree with Ron Paul on certain issues, he is NOT a criminal or a corporate stooge and I would not be terrified of a Ron Paul presidency.

    Unfortunately we didn’t get that choice. I know firsthand from living in Florida what it means to have a so called businessman who engages in criminal activity to further his own goals elected to lead. In Florida we almost expect such bizarre disasters-there is a whole sub-genre of fiction about the bizarrity of Florida politics! But then Florida doesn’t have to worry about foreign policy…..

    • kibitzer3 says:

      ohnwentsya,
      Just so you know: Even with our past ‘agreements to disagree’ on this blog regarding Obama, I agree with you on this one. This, in a word, stinks.

      Let’s trust that the WHOLE truth, about BOTH candidates, comes out in the end. And in the meantime, let’s not lose contact with the higher qualities that will allow Humanity to move further up the evolutionary spiral; and out of this jungle that we are in at present. Which needs to be left behind just as soon as possible.

      Meet you there.

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