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>greatest marketing trick played on the American people. Bailout loans.
Oct 18, 2012
Greg Palast: “Mitt Romney’s Bailout Bonanza: How He Made Millions from the Rescue of Detroit”
Investigative reporter Greg Palast reveals how Republican presidential nominee Mitt Romney made some $15 million on the auto bailout and that three of Romney’s top donors made more than $4 billion for their hedge funds from the bailout. Palast’s report is part of a film-in-progress called “Romney’s Bailout Bonanza.” Palast is the author of several books, including recently released New York Times bestseller, “Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps.”
As part of a massive government bailout, U.S. taxpayers paid $12 billion to save auto parts maker Delphi Corporation. Out of that taxpayer money, three billionaires and their partners took in a profit of over $4 billion. One big winner, with a profit of over 4,000 percent, were the billionaires’ silent partners, Ann and Mitt Romney. The Romneys made at least $15 million, and as much as $115 million.
Our investigation began in Africa in the Congo. This is Greg Palast reporting. We are hunting for a vulture, a so-called vulture fund financier, this man, Paul Singer. Singer’s vulture fund seized $90 million out of foreign aid given the Congo, which could have been used to end a cholera epidemic. Singer’s vulture tactics are now outlawed in England and all over the world, but not in the U.S.A., certainly not here in Detroit, where we found Singer’s vulture fund feasting on the corpse of another victim, the once-world-leading Delco auto parts division of General Motors.
https://www.democracynow.org/2012/10/18/greg_palast_mitt_romneys_bailout_bonanza