Posts tagged “Mitt Romney’s Bail-out Bonanza”

  • UAW Charges Romney With Profiteering From Auto Bailout – Greg Palast speaks at the press conference

    November 2, 2012

    At a press conference yesterday in Toledo, Bob King, President of the United Automobile Workers (UAW), announced that his union and Citizens for Responsibility and Ethics in Washington (CREW)  have filed a formal complaint with the US Office of Government Ethics in Washington stating that Gov. Romney improperly hid a profit of $15.3 million to $115.0 million in Ann Romney’s so-called “blind” trust.

    The union chief says, “The American people have a right to know about Gov. Romney’s potential conflicts of interest, such as the profits his family made from the auto rescue. It’s time for Gov. 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 Romneys’ gigantic windfall was hidden inside an offshore corporation inside a limited partnership inside a trust which both concealed the gain and reduces taxes on it.  

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