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Romney's Auto Bail-out Billionaires


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#1 harrier

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Posted 26 March 2012 - 02:37 PM

Top funders made billions from US Treasury

Republican Presidential candidate Mitt Romney called the federal government’s 2009 bail-out of the auto industry, “nothing more than crony capitalism, Obama style... a reward for his big donors to his campaign." In fact, the biggest rewards ­­– a windfall of more than two billion dollars care of US taxpayers ­­­–– went to Romney's two top contributors.

John Paulson of Paulson & Co and Paul Singer of Elliott International, known on Wall Street as “vulture” investors, have each written checks for one million dollars to Restore Our Future, the Super PAC supporting Romney’s candidacy.


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#2 JTFAN99

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Posted 26 March 2012 - 04:22 PM

Top funders made billions from US Treasury

Republican Presidential candidate Mitt Romney called the federal government's 2009 bail-out of the auto industry, "nothing more than crony capitalism, Obama style... a reward for his big donors to his campaign." In fact, the biggest rewards ­­– a windfall of more than two billion dollars care of US taxpayers ­­­–– went to Romney's two top contributors.

John Paulson of Paulson & Co and Paul Singer of Elliott International, known on Wall Street as "vulture" investors, have each written checks for one million dollars to Restore Our Future, the Super PAC supporting Romney's candidacy.


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Romney also flip flopped on the bailouts. In 2008 he was asking Washington to step in and help the auto industry.
http://www.csmonitor...ndustry-bailout
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#3 DLine06

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Posted 26 March 2012 - 07:11 PM

Romney also flip flopped on the bailouts. In 2008 he was asking Washington to step in and help the auto industry.
http://www.csmonitor...ndustry-bailout


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#4 WestHardinfan1

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Posted 27 March 2012 - 01:05 PM

Romney hasn't flip-flopped...he's flat out lieing...he's telling the gullible goppers what they want to hear so they'll flock to him and "get behind the team" in November....then when elected, he'll be right back to doing the business of the establishment elites.....

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#5 parentofredheads

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Posted 27 March 2012 - 05:04 PM

As to the original story... not quite sure that's all exactly true. Bankruptcy is a super tricky thing, especially with a company as big as GM... there's "new GM" (which exists today) and "old GM". If GM has to get rid of its assets, a bidder (stalking horse bidder) comes in...it's who bids the highest is who gets it. If Singer and Paulson were the high bidders, then they're the high bidders.

If the bidders were bidding on assets that the government took over and then having to sell...well, that would be the foolish government's fault, who used taxpayer money to do same.

Which is why the government shouldn't have bailed them out in the first place...we'll never get paid back from "saving" GM.




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