Romney to be Charged with Violating Federal Ethics in Government Law - Greg Palast/UAW

Romney is being charged by the UAW with what the US Treasury called 'extortion' and ultimately made the Romney's millions and sent thousands of Delphi auto parts maker jobs to Mexico and China. With the Sandy hurricane coverage, I haven't seen anything yet in the MSM about this; will be interesting to see how it plays this close to the election.

www.nationofchange.org...

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. 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 Romneys' 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.

Here's a better source for you UAW

reply to post by signalfire


Anyone can accuse anyone of anything in this country. And take anyone to court. All you need is lawyer who doesn't care as long as he gets paid. So a union who supports obama and the secretary of the treasury who is appointed by Obama are going after Romney. The timing is impeccable or predictable. Sounds like Obama is getting desperate.

You’d like to think something will happen, but no. Nothing will happen from this. It’ll be swept under the carpet like everything else the rich and powerful do.

reply to post by CyberTruth


It took two whole posts to blame Obama?

ATS, you slipping on me?

Well it is the UAW.....not buying it...sorry.

Originally posted by TheOneElectric
reply to post by CyberTruth

 

It took two whole posts to blame Obama?

ATS, you slipping on me?

Thanks had a horrible day. I needed that laugh.

reply to post by TheOneElectric


Well come on. This is really dirty politicking. I'm really for neither candidate but man I really am enjoying the show.

Maybe everyone should take the time to see that the UAW filed a complaint....big deal...I could do that.

No charges, innocent until proven guilty in a court of law......or not if you are Obamas opposition?

I repeat...it was just a complaint by the UAW who endorses Obama......the dots are pretty easy to connect.

reply to post by signalfire


Interesting; doubt it will have any effect on the election though.

The Ethics in Government Act doesn't apply to people who aren't in the government. Neither Mitt nor Ann are. Silly charge.

Bah. Nevermind.

It all bullspit. What I see here is someone trying to throw haymakers in the dark.. Pure desperation heading into the home stretch.

Business 101:

- Get cash
- Use cash to purchase leverage
- Apply leverage
- Cash flow
- "Reinvest" in other leverage
- Rinse, repeat

reply to post by CyberTruth

Anyone can accuse anyone of anything in this country. And take anyone to court. All you need is lawyer who doesn't care as long as he gets paid. So a union who supports obama and the secretary of the treasury who is appointed by Obama are going after Romney. The timing is impeccable or predictable. Sounds like Obama is getting desperate.

Really? That's your first thought?
No, sadly I suspect that the OP is probably true. There are reasons he doesn't want to release his tax returns.
And Greg Palast is a journalist (in the true sense of the word, not what passes as such in the MSM) with integrity. If he is reporting on it you can believe he has done his homework.

Originally posted by charles1952
The Ethics in Government Act doesn't apply to people who aren't in the government. Neither Mitt nor Ann are. Silly charge.

It depends on when then was supposed to have happened. Remember it is Gov Romney so he was in Goverment.

This is from the UAW site.

Groups urge Office of Government Ethics to make Romney disclose or divest


WASHINGTON -- A coalition of community, labor and good-government organizations is calling on the U.S. Office of Government Ethics to investigate GOP presidential candidate Mitt Romney for noncompliance with the Ethics in Government Act and compel him to either disclose his investments or divest them.

"The American people have a right to know about Governor Romney's potential conflicts of interest, such as the profits his family made from the auto rescue," said UAW President Bob King. "It's time for Governor 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 groups sending the complaint letter, including SEIU, UAW, Citizens for Responsibility and Ethics in Washington, Public Citizen, Public Campaign, People for the American Way and The Social Equity Group, believe that Romney's undisclosed stock holdings create serious conflicts of interest. They point to the auto rescue as a key example.

The Nation recently reported that the Romney family personally profited by at least $15.3 million from the auto loans of 2009 through his investment in the Delphi Corp. auto parts company. Yet Romney's June 1, 2012, Public Financial Disclosure Report to the Office of Government Ethics did not reveal this windfall because he did not disclose the underlying holdings of his private equity and limited partnership funds.

Here are details of a joint news conference to be held Thursday in Toledo, Ohio:

WHO: UAW President Bob King
SEIU Executive Vice President Tom Woodruff
Investigative reporter Greg Palast, author of "Mitt Romney's Bailout Bonanza" in The Nation, and the book, "Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps."
Delphi workers

WHAT: News conference on Mitt Romney's conflicts of interest with his investments, including his profiting from the auto bailout.

WHERE: UAW Local 12, 2300 Ashland Ave., Toledo, Ohio 43620

WHEN: Thursday, Nov. 1, 2 p

www.uaw.org...

reply to post by coyotepoet


He's a progressive, anti GOP, anti capitalist, anti conservative, pro illegal immigration mouthpiece for the left.

His whole web page is filled with anti Romney articles.

"Journalist" my patootie....just another media hack with an agenda.

reply to post by Grimpachi

Dear Grimpachi,

Good to see you again.

The Ethics in Government Act only applies to Federal government employees. Further, the OP source is claiming that the "dastardly deed" was done in 2009. Romney left the Governor's office in early 2007.

Other than that, I wish you peace through the elections.

With respect,
Charles1952

reply to post by Grimpachi


He was governor until 2007.

FYI.

reply to post by charles1952


Good see you again as well.

I see your point but as I posted it seems there is still some truth to this as above you will see I posted from their site and there is something to this although I do not know how it will be handled.

Yes I see the time does not line up with when he was in office perhaps it has something to do with his campaign as I am not familiar with all the ins and outs with those laws.

BTW I can't wait till the election is over because I am staying out of the country till it is over.