No Denial: ‘Son Of Detroit’ Profited from Bailout – and Jobs Shipped to China | NationofChange

…the Romneys made millions from that intricate deal, put together by one of his main campaign donors, billionaire investor Paul Singer — through a “vulture fund,” known as Elliot Management. Having bought up Delphi at fire-sale prices, Singer and his partners essentially blackmailed the Treasury into paying them billions so that Delphi would keep supplying parts to General Motors and Chrysler.

They stiffed the company’s pensioners, pocketed the bailout funds and moved all but four of the firm’s 29 plants to China.

via No Denial: ‘Son Of Detroit’ Profited from Bailout – and Jobs Shipped to China | NationofChange.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s