Obama has done it again


#1

breaking news, Fox, Megyn Kelly as I type:

Obama and Sec Treas DENIED pensions to 20,000 workers at Delphi because they were NOT UNION workers, 100% of the Unio workers got their pensions, not union members did not.

DNC talking points are saying its Romney’s fault and that he DID IT NOT Obama!!!

Watch this unravel…[LEFT][/LEFT]


#2

The truth:

Delphi was bought out by a hedge fund, Elliott International, during the crash at the end of Bush’s Presidency. The first thing the hedge funders did was fire every single one of its 25,000 unionized employees and move its work force to China. After the bailout, Delphi now has 100,000 workers in China and other countries and only 5,000 in the United States, none of them unionized.

In their 2011 and 2012 Federal Financial Disclosure filing, Ann Romney’s trust lists “more than $1 million” invested in Elliott International. That’s the same descriptor for all of her big investments, to meet the minimum disclosure required by law. The investment is in Ann Romney’s name, probably, so that her husband, Mitt Romney, does not legally have to disclose the real extent of the fortune he made on the buyout. But it was a fortune.

Although they were all fired, Delphi’s union workers’ pensions were guaranteed by GM (not the Federal government) as part of an agreement made by GM when they split Delphi off from themselves as an independent company in 1999. During the bailout, the Treasury Department could have pressured GM to change its existing agreement to cover Delphi’s non-union employees as well, but that would have meant using the power of the Treasury to coerce a company into altering an existing contract. They chose not to do so. On that point, you might well say politics came into play, but only in that the Obama Treasury failed to do something that Romney himself opposed.

Romney wasn’t in favor of the government stepping in to help any workers at all. If Romney had it his way, both the unionized and non-unionized workers would have lost their pensions, while he and his hedge fund buddies made off with the money like bandits into the night.

And what they did to that one American company is the same thing they’ll do to America itself if we’re foolish enough to elect them.


#3

[quote=“17Oaks, post:1, topic:36761”]
breaking news, Fox, Megyn Kelly as I type:

Obama and Sec Treas DENIED pensions to 20,000 workers at Delphi because they were NOT UNION workers, 100% of the Unio workers got their pensions, not union members did not.

DNC talking points are saying its Romney’s fault and that he DID IT NOT Obama!!!

Watch this unravel…[LEFT][/LEFT]
[/quote]Throw that in the pot with the other stuff like the taxes that will hit after the first and the layouts scheduled as well as the thing he wants to do to the military.


#4

Caud, have you noticed something on your face growing longer lately?


#5

I think this could be settled by asking a Delphi worker if they blame Romney or Obama for their loss of pension benefits. Might be a good question to ask the GM bond holders too.


#6

caudi?? IS that really the truth? Ann Romney?? You’re going to blame Ann Romney?


#7

Caud’s grip on truth is tenuous at best, don’t think he is a liar, but rather a believer in the sewage that is spewed from the DNC, so he like most shills and sycophants will repeat anything they are told.

I just went thru Ann Romney’s tax return and could not find a listing for Elliot at all.

Unlike Caud I have links:

2011 Ann Romney Trust Return | Mitt Romney for President


#8

Yeah, that’s because it’s not in her tax return. As I said, it’s in her 2011 and 2012 Federal Financial Disclosure filings. Here’s a version with it highlighted for you: http://www.thenation.com/sites/default/files/Romney%20federal%20disclosure.pdf

And source: Mitt Romney’s Bailout Bonanza | The Nation

I’m not a tax lawyer or a multi-millionaire, so I can only go by what I read. But apparently, if Mitt Romney had kept it in his name, he would have been required to disclose whether the amount exceeded $50 million—but because it’s in Ann’s name, they only need to report it as “more than $1 million”. Thus hiding from the rest of us the actual extent of the fortune they made in the deal.


#9

That is her trust assets which are part of her tax return

The link you provided is for MITT’s holdings as of Dec 31 2010.

All these holding in his name are passive according to note #9

"2009, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it.

One of the hedge funds profiting from that bailout—
$1.28 billion so far—is Elliott Management…" Elliot received the funds directly from the feds.

I read the clearly slanted article and have gone thru the link and read the docs, I see no problem here. The unions had choked the life out of Delphi, it was move out of the US or let the company fail.

I have NO USE for unions and trust me I know them all too well

FROMER member

AFL-CIO-IAM (International Association of Machinists) Dallas local…


#10

Nope, better read it again. This is the Federal Financial Disclosure for Ann Romney’s trust.

Yeah, what’s your point? Isn’t that what I said?


#11

When did Ann Rommey become president?


#12
  1. YOU ARE RIGHT, I read the small print and here is what its says: “Ann Romney BLIND Trust”

  2. ZACTLY, what is your point? FACT you do not have one…She invested in a company that invested in nearly 30 companies, none of which she had any interest or control in and ONE of the company received federal money to bail out a auto company that was FAILING…DUH