Mitt Romney's Bailout Bonanza

Oct 18, 2012 | Posted by: Mr_Bill | Full story: www.thenation.com

he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion

Mitt Romney’s opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment.

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Robert

Douglasville, GA

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#25
Oct 23, 2012
 

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Mr_Bill wrote:
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Thyis is a real story, yes, and true.
That the "major news outlets" (all owned by very conservative people or corporations) does not run it, is proof to the fantasy of a "liberal media."
Same as when all sorts of $$$ Billion Dollar stock and bond manipulation was going on. Who got the "major news outlets" coverage?
Martha Stewart.
Yea right mr bill it is a giant conspiracy all the major networks and newspapers are run by the trilateral commission composed of rush limbaugh, sean hannity and ann coulter.

The periodical you used is self-described as "the flagship of the left."

Not even your source agrees with you they admit to their bias.
PLAN Tax America to Death

Anonymous Proxy

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Oct 23, 2012
 

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LIE #4: OBAMA MISREPRESENTED ROMNEY’S RECORD ON THE AUTO BAILOUT

THE CLAIM: Obama Claimed That Romney Would Not “Provide Government Assistance To The U.S. Auto Industry.” OBAMA:“You were very clear that you would not provide government assistance to the U.S. auto companies even if they went through bankruptcy. You said that they could get it in the private marketplace. That wasn’t true. They would have gone through.”(President Barack Obama, 2012 Presidential Debate, Lynn University, Boca Raton, FL, 10/22/12)

THE FACTS:“Romney Is Correct In That He Called For A ‘Managed Bankruptcy.’”“Although ‘bankrupt’ often conjures up images of liquidation, Romney is correct in that he called for a ‘managed bankruptcy.’ This is a process in which the company uses the bankruptcy code to discharge its debts, but emerges from the process a leaner, less leveraged company. Ultimately, along with getting nearly $80 billion in loans and other assistance from the Bush and Obama administrations, GM and Chrysler did go through a managed bankruptcy.”(Glenn Kessler,“Fact Check: The Auto Industry Bailout,” The Washington Post, 10/22/12)

THE FACTS: Time’s Michael Scherer:“Obama is wrong. Romney supported guarantees in bankruptcy.‘The federal government should provide guarantees for post-bankruptcy financing’”(Michael Scherer, Twitter Feed, 10/22/12)

THE FACTS: Romney Argued “The Federal Government Should Provide Guarantees For Post-Bankruptcy Financing And Assure Car Buyers That Their Warranties Are Not At Risk. So At Least On That Point, Again, Romney Seems To Have Had The Record Straight.” FOX NEWS’ CHRIS WALLACE:“Finally, very briefly on the auto bailout, in an editorial that Romney wrote in November of 2008, which had the headline he didn’t write it, let Detroit go bankrupt. He did argue for bankruptcy, a managed bankruptcy but at the end he said: the federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk. So at least on that point, again, Romney seems to have had the record straight.”(Fox News, 10/22/12)

THE FACTS: FactCheck.org :“Obama says Romney wouldn’t have provide any gov’t assistance for automakers. But Romney did propose loan guarantees.”( FactCheck.org , Twitter Feed, 10/22/12)

THE FACTS: CNBC’s Scott Cohn:“Mitt Romney Did Not Write In That 2008 Op-Ed That He Wanted To Liquidate The Auto Industry. He Did Say He Wanted It Restructured Through Bankruptcy.” CNBC’s SCOTT COHN:“Well, Mitt Romney did not write in that 2008 op-ed that he wanted to liquidate the auto industry. He did say he wanted it restructured through bankruptcy with government guarantees after bankruptcy. That is a key difference from what happened, with the government providing financing for bankruptcy.”(CNBC, 10/22/12)

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#27
Oct 23, 2012
 

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Robert wrote:
<quoted text>
Yea right mr bill it is a giant conspiracy all the major networks and newspapers are run by the trilateral commission composed of rush limbaugh, sean hannity and ann coulter.
The periodical you used is self-described as "the flagship of the left."
Not even your source agrees with you they admit to their bias.
Not a conspiracy, but the way it is.

Who, after all, are these "liberal media?" and who owns and controls them?

Trilateral Commission?
You're not a LaRouchite, are you?

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#28
Oct 23, 2012
 

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PLAN Tax America to Death wrote:
LIE #4: OBAMA MISREPRESENTED ROMNEY’S RECORD ON THE AUTO BAILOUT
THE CLAIM: Obama Claimed That Romney Would Not “Provide Government Assistance To The U.S. Auto Industry.” OBAMA:“You were very clear that you would not provide government assistance to the U.S. auto companies even if they went through bankruptcy. You said that they could get it in the private marketplace. That wasn’t true. They would have gone through.”(President Barack Obama, 2012 Presidential Debate, Lynn University, Boca Raton, FL, 10/22/12)
THE FACTS:“Romney Is Correct In That He Called For A ‘Managed Bankruptcy.’”“Although ‘bankrupt’ often conjures up images of liquidation, Romney is correct in that he called for a ‘managed bankruptcy.’ This is a process in which the company uses the bankruptcy code to discharge its debts, but emerges from the process a leaner, less leveraged company. Ultimately, along with getting nearly $80 billion in loans and other assistance from the Bush and Obama administrations, GM and Chrysler did go through a managed bankruptcy.”(Glenn Kessler,“Fact Check: The Auto Industry Bailout,” The Washington Post, 10/22/12)
THE FACTS: Time’s Michael Scherer:“Obama is wrong. Romney supported guarantees in bankruptcy.‘The federal government should provide guarantees for post-bankruptcy financing’”(Michael Scherer, Twitter Feed, 10/22/12)
THE FACTS: Romney Argued “The Federal Government Should Provide Guarantees For Post-Bankruptcy Financing And Assure Car Buyers That Their Warranties Are Not At Risk. So At Least On That Point, Again, Romney Seems To Have Had The Record Straight.” FOX NEWS’ CHRIS WALLACE:“Finally, very briefly on the auto bailout, in an editorial that Romney wrote in November of 2008, which had the headline he didn’t write it, let Detroit go bankrupt. He did argue for bankruptcy, a managed bankruptcy but at the end he said: the federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk. So at least on that point, again, Romney seems to have had the record straight.”(Fox News, 10/22/12)
THE FACTS: FactCheck.org :“Obama says Romney wouldn’t have provide any gov’t assistance for automakers. But Romney did propose loan guarantees.”( FactCheck.org , Twitter Feed, 10/22/12)
THE FACTS: CNBC’s Scott Cohn:“Mitt Romney Did Not Write In That 2008 Op-Ed That He Wanted To Liquidate The Auto Industry. He Did Say He Wanted It Restructured Through Bankruptcy.” CNBC’s SCOTT COHN:“Well, Mitt Romney did not write in that 2008 op-ed that he wanted to liquidate the auto industry. He did say he wanted it restructured through bankruptcy with government guarantees after bankruptcy. That is a key difference from what happened, with the government providing financing for bankruptcy.”(CNBC, 10/22/12)
More malarkey and beeswax.

Romney wanted the non-existent "private market" pick up the pieces; and it would have been pieces, like HUMPTY DUMPTY..

We have had the TAX CUT FOR THE RICH since the mid 'oughts. WHERE ARE THE JOBS?

I'll tell you......in the third world.
Wake up, Rip.
Gabrial

Sacramento, CA

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#29
Oct 25, 2012
 

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I laugh at the reich wingers "explanation" of romneys criminal behavior. I dont what is more pathetic, right wing hacks, or romney. both are a pile of crap...

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