Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 7 (7 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   1 comment

General News

Vulture Fund Kingpin Is the Top Financial Backer of Republican U.S. Sen. Kelly Ayotte

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; , Add Tags Add to My Group(s)

News 2   Must Read 1   Well Said 1  
View Ratings | Rate It Headlined to H3 2/9/14

- Advertisement -

Paul Singer, the billionaire head of the most aggressive vulture fund, Elliott Management, is the top financial backer of New Hampshire Republican U.S. Senator Kelly Ayotte. She recently introduced legislation to sock 4 million Latinos with an average tax-hike of $1,800.

Apparently, the Republican Party's "no new taxes" pledge doesn't prohibit tax-hikes against the poor -- only against the rich.

Singer has an interesting background. His firm had controlled the bankrupt Delphi Auto Parts company in 2009 when U.S. taxpayers were rescuing the U.S. automotive industry. Singer's people then told the U.S. Government that if they didn't buy them off to the tune or $12.9 billion, Delphi would shutter its factories, and the U.S. auto plants of GM and Chrysler would have no steering columns and other vital parts, which would mean that the entire rescue of GM and Chrysler would fail. So, Singer's people got the money they demanded from U.S. taxpayers: U.S. auto workers took the hit instead (in addition to U.S. taxpayers). 

One of Elliott Management's major investors then was Mitt Romney, the man who condemned the bailout of Chrysler and of GM, and who now walked off with "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," according to the great investigative journalist Greg Palast's account in the Nation, on 17 October 2012.

The Wall Street Journal has called Singer "one the biggest donors in the country now to the Republican cause," at $2.3 million of his own money in 2012 alone.  Additionally, he had donated more than a million dollars to the Koch brothers' bundling operation for far-right Republicans in 2011, a campaign season when the Kochs were bundling $400 million+ for Republicans. Roll Call reported, on 1 February 2014, that Paul Singer in the current political season has already given $1.25 million to the Republican Governors Association, while David Koch has given them only a paltry $250,000 -- just one-fifth as much.

Senator Ayotte's proposed bill would have increased the income taxes that undocumented workers already pay to Uncle Sam under an existing program that taxes the earnings of workers who lack a Social Security number. While Republicans admire vulture fund operators such as Singer, that Party wants to squeeze undocumented workers as hard as possible, in the hope that they'll go back to their country of origin.

- Advertisement -

Senator Ayotte's bill failed to pass, however, because it was proposed to be part of the Republican Party's price for extending long-term unemployment benefits, and not enough Republicans were willing to support extending those benefits, even if undocumented workers were to take a hit from doing it.

Senator Ayotte is considered to be a rising star in the Republican Party, and a possible 2016 Vice Presidential nominee. Her proposal to punish undocumented workers is thought by some to be a play for support by Republicans not only now but also looking forward to 2016.  


Investigative historian Eric Zuesse is the author, most recently, of They're Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of  CHRIST'S VENTRILOQUISTS: The Event that Created Christianity.

- Advertisement -


The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Editor
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

First Examination of Malaysian MH-17 Cockpit Photo Shows Ukraine Government Shot that Plane Down

Indications that the U.S. Is Planning a Nuclear Attack Against Russia

Harry Reid Effectively Kills Obama's TPP and TTIP International Trade Deals

MH-17 'Investigation': Secret August 8th Agreement Seeps Out

The Propaganda War About Ukraine: How Important It Really Is

Elizabeth Warren Comes Down Hard Against Global Warming, Separates Herself From Hillary Clinton on Climate Change


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Republicans are pure evil; and any liberal who say... by Eric Zuesse on Sunday, Feb 9, 2014 at 4:25:18 PM