HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Editorials & Other Articles (Forum) » Romney & Company Ship...

Tue Oct 23, 2012, 05:44 PM


Romney & Company Shipped Every Single Delphi UAW Job to China [View all]

As I reported in this week's The Nation magazine cover story "Mitt Romney's Bail-out Bonanza," the Romneys are in a special partnership with the vulture fund that bought Delphi, the former GM auto parts division.

The truth? On June 1, 2009, the Obama administration announced that Detroit Piston's owner Tom Gores, GM and the US Treasury would buy back Delphi.The plan called for saving 15 of 29 Delphi factories in the US.

Then the vulture funds pounced.

The Nation discovered that, in the two weeks immediately following the announcement of the Delphi jobs-saving plan, Paul Singer, Romney's partner, secretly bought up over a billion dollars of old Delphi bonds for pennies on the dollar.

Singer and partners now controlled the company - and killed the return of Delphi to GM.



7 replies, 2094 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 7 replies Author Time Post
Reply Romney & Company Shipped Every Single Delphi UAW Job to China [View all]
Purveyor Oct 2012 OP
Vincardog Oct 2012 #1
Historic NY Oct 2012 #2
crazylikafox Oct 2012 #3
tk2kewl Oct 2012 #4
amborin Oct 2012 #5
mojowork_n Oct 2012 #6
mojowork_n Oct 2012 #7