Romney Made a Fortune Off of Extorted Delphi Government Ransom Payment: Tell Paul Ryan

[buzzman]

http://truth-out.org/buzzflash/commentary/item/17617-ryan-that-romney-made-a-fortune-off-of-extorted-delphi-government-ransom-payment

MARK KARLIN, EDITOR OF BUZZFLASH AT TRUTHOUT

You wouldn't know it from the way Paul Ryan has been championing retired non-union workers of Delphi Auto, but his potential boss – Mitt Romney – made a mint off of a hedge fund investment that sent most of Delphi's job overseas and hedge fund principals who blackmailed the government into a huge payoff.

Greg Palast has detailed the ugly story on Truthout (reposted from the Nation). It is also the topic of a United Automobile Workers' (UAW) news conference in Toledo, Ohio, today, as exclusively revealed in a BuzzFlash at Truthout piece by Palast, "UAW Charges Romney With Profiteering From Auto Bailout."

Ryan is claiming to be upset that former non-union Delphi workers are not getting full pensions, which is grotesquely ironic considering Romney made a career of pension destruction that was part of his vulture capitalism formula. Remember also that -- which is Palast's point about Delphi -- the Romneys are still earning more than some 20 million a year in their "retirement" based in large part on investments in firms that cannibalize industry and workers.

Romney's likely multi-million dollar profit is hidden in Ann Romney's so-called "blind trust." In 1994, when Romney ran unsuccessfully against Ted Kennedy for the Senate, Mitt declared: “The blind trust is an age-old ruse.”

[newsboy]

1. It is Far Worse

The DELPHI story has no bottom

It was the government’s Pension Benefit Guaranty Corporation that agreed to take over Delphi’s pension payments when Romney partner Paul Singer chose to not honor obligations (even though they had the money).

So you see, per Paul Ryan... it is not Delphi and Singer that slashed the pensions by 100% it was 'Obama' that cut them by 40% when PBGC came in to throw the much needed safety net. Why only essentially 60% benefits ...because thats what the law allows.

Oh ya, of coarse Obama is to be blamed for another bailout the drives the debt.

These people are a blight on AMerica

[WCGreen]

2. Fuck that... A blight on Humanity....

They should make as much hay as they can on this before the election.

Pound it loud and clear.

Say that Romney will do the same to Social Security.

[newsboy]

3. Why can't this DOG HUNT

Can someone please tell me why this story has NO LEGS

THis is a recent active business endeavor by the Romneys
This is not a I have no idea what Bain Does story
When u invest with Paul Singer 'The Vulture' u kNOw you are in the DELPHI 'play'
You know Obama put billions on the table to save Gm and all feeder companies
You know Singer and Delphi gained billions from the bailout $12B
You know they EXTORTED (literally extorted) more $350M
You know they closed 25 of 29 plants
You know they canned 25,000 Union workers
You know they moved the plants and created 100k jobs in China
You know they reneged on all pension obligations, regardless of having the money
You know Uncle Sam was made to bailout the pensioners
You know that pension bailout is caped at 60% of value
You know the obscene Singer profits are in an offshore tax haven
You know You put your interest in Ann's name to 'skirt' visibility
And you know you made between 15 and 115 Million US Dollars

And the icing ? According to Ryan:

Obama is responsible for the 40% cut for pensioners
and of coarse Obama is responsible for the closed factories