Mitt Romney says he wanted Detroit to go bankrupt. But, since they didn't, the Romneys decided to cash in on some bailout money in 2009. Coincidentally, the same year's taxes you have yet to see. Don't you want to know what they are hiding?
Yes, they! Ann is in on this one too.
Delphi Automotive is a company that supplies steering column parts to GM. They are critical to GM operations. As the auto industry was going bankrupt, so was Delphi. Mitt knows the smell of blood and so do his hedge fund cohorts.
Elliott Management director ?Paul Singer (also donator of $2.3 million to GOP candidates) bought up Delphi stock for a controlling interest at pennies on the dollar.
During the bailouts, in a closed-door meeting in 2009, hedge fund managers now controlling Delphi demanded $350 million of the bailout money or they would shut down GM. According to Delphi CFO, John Sheehan, the hedge fund managers provided a cost analysis showing the billions of dollars it would cost GM to replace Delphi's parts. Romney's cronies were blackmailing the Treasury, GM and you, the American tax payer.
Not only that, Singer also took away pensions from Delphi union workers. Have you seen the commercials blaming Obama for that? More GOP lies courtesy of the Koch brothers' anti-Obama "election war chest." Ohio Democrat Sherrod Brown has introduced legislation to restore the pensions to those robbed by Romney's pals.
Delphi stock, purchased for 67 cents a share went public in November 2011 for $22 per share. Total Singer profit for he and his investors, $904 million! And the price of Delphi stock continues to rise.
Ann Romney's blind trust lists "more than $1 million" invested with Elliot Management funds. They don't have to disclose the exact amount. The Romneys were invested by 2010, before the company went public. Other investors invested about one-third of their portfolio. Assuming Ann invested a meager three percent of her and her husband's entire net wealth, their profit from the tax payer auto bailout would have been $115 million!
How much taxes were paid on the Delphi profits? ZERO!
How do wealthy people like Romney and Singer avoid taxes? They move the company's incorporation from the U.S., in the case of Delphi from Troy, Michigan, to offshore tax havens like the Isle of Jersey. Although Jersey has come under attack, partly thanks to President Barack Obama, for harboring these tax avoiding criminals, it doesn't change the fact that Mitt Romney makes big money by moving companies and jobs OUT of America.
But, you won't ever know for sure how many of your tax dollars were contributed to the Romney dynasty. The 2009 tax returns haven't been released and won't be. And, the money was invested through Ann Romney's blind trust.
An interesting quote from the flip-flopper extraordinaire on blind trusts, "The blind trust is an age-old ruse, if you will. Which is to say, you can always tell a blind trust what it can and cannot do."
If this information doesn't make your voting choice clear on November 6, what will?!