Mitt Romney's Bailout BonanzaQuicklink submitted by Amanda Lang Permalink
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|Mitt Romney's opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney's November 2008 New York Times op-ed, 'Let Detroit Go Bankrupt.' But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained 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. It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM's production lines. No bailout of GM--or Chrysler, for that matter--could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009...|
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