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2012 Election
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2012 Election

  #651 (permalink)
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Auto Industry Bailout Bonanza for .... guess who?

Not that this will affect the outcome of the election, but...

UAW Files Charges Against Romney on His Auto Bail-out Profiteering | NationofChange

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.

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  #652 (permalink)
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Chris Rock,, I see a Cabinet Seat in his future

Chris Rock's Message For White Voters On 'Jimmy Kimmel Live' In Brooklyn (VIDEO)

  #653 (permalink)
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Damn Zondor. Good find.

I find myself leaning left here. I am getting a f*ckton of double standards from romney.

As far as the economy, we are competing with slaves in asia for labor. Kinda obvious who wins that battle in regards to unbiased economic facts and not union or sympathy jobs.

Thanks to Mike as well for keeping this blog clean.

-Dave Krupar

  #654 (permalink)
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During a beer at the local tavern I got into a discussion with some friends and one of them had this thought - that philosophically, the differences in the 2 political sides can be summed-up in Katrina and Sandy.

If one side sees government as too involved and the source of the problem, it is more likely to staff agencies it views that way with incompetents. This produces a self-fulfilling prophesy that then bolsters their argument that government does the task poorly.

If, on the other hand, one views federal government involvement as necessary in something like disaster recovery (somewhat like the military), then they are more likely to staff it with at least competent people which they hope will produce competent results.

Now, everyone knows that elections can add to this mix, but the basic premise is that if I don't like a department or agency, I can screw it over in people or funding and then point to the mess as a justification for dismantling it.

Gov Christie has come down on the side of federal involvement in disaster recovery. I suppose being governor requires a pragmatic side that overrules politics.

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  #655 (permalink)
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  #656 (permalink)
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  #657 (permalink)
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Congratulations to President Obama on getting reelected and Senate majority. Too bad no House majority.

A small bit of faith has been restored in my eyes, for not electing Romney.


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  #658 (permalink)
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Really Mike?

Thanks for all you do at futures.io (formerly BMT). All the best to you.


  #659 (permalink)
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Glad Romney wasn't elected either even though I wasn't for Obama this time around. In California, Proposition 30 for increased "temporary" taxes for "education" was voted in. Proposition 37, which would have mandated GMO labeling was voted down. Proposition 32 to stop union driven political contributions by payroll deduction of public sector workers shot down. Emken lost to Feinstein. Outcomes of other propositions will result in increased debt in the worst way possible. Fiscal oversight in favor of public sector union and crony corporate special interests completely abdicated in the state. A disaster. And here comes Obamacare!

Last edited by Cloudy; November 7th, 2012 at 09:43 AM.
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  #660 (permalink)
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Big Mike View Post
Congratulations to President Obama on getting reelected and Senate majority. Too bad no House majority.

A small bit of faith has been restored in my eyes, for not electing Romney.


Wow and I had you almost for sure pegged as Romney supporter being from Texas and all.

I may just vote with my feet since I am both a Canadian/US citizen if this country continues to decline. Canada is far from perfect, but the US is becoming more 2nd world everyday. I like Stephen Harper he seems much better than the nut jobs from the Dem and esp Repub side.

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