Thursday, November 1, 2012
Romney enriches himself
Romney received over 15 million from the government bailout of GM and its Delphi parts supplier. A hedge fund that Romney invested in bot the bonds of Delphi at a discount and then received more than they paid for them when Delphi was saved from bankruptcy. The trust fund moved most of the jobs to China and watched Delphi's stock price rise when it repudiated its pension funds obligations to its domestic workers. Of course in Republican fashion, it conducted a multi-million dollar TV campaign claiming Obama gave a handout to labor. All of this is reported in The Nation magazine of Nov 5.