blackhawk
Diamond Member
The United Auto Workers going after Romney less than a week before election could I be less surprised? FYI my question rhetorical.
Greg Palast: UAW Charges Romney With Profiteering From Auto Bailout
- Thread starter courseofhistory
- Start date
buckeye45_73
Lakhota's my *****
- Jun 4, 2011
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still waiting on that answer libtards
Bain Capital being investigated for tax evasion
ALBANY, N.Y. — New York’s attorney general is investigating tax strategies of some of the nation’s largest private equity firms, including Bain Capital, founded by Republican presidential nominee Mitt Romney, an official familiar with the probe said Sunday.
Attorney General Eric Schneiderman is examining whether the firms have abused a tax strategy to avoid paying hundreds of millions of dollars in taxes, said the official, who spoke on the condition of anonymity because of the sensitivity of the probe. The practice involves converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.
Romney's Son of Boss fraud
In his key role as chairman of the Marriott board's audit committee, Romney approved the firm's reporting of fictional tax losses exceeding $70 million generated by its Son of Boss transaction.
Romney's AMPAD fraud
American Pad and Paper. Romney and Bain Capital bought it from Mead Company, when it had total debts of $11 million. By the time they sold it, the company had $400 million in debt -- and Bain had earned $100 million off the deals, between fees it charged the company for managing it and for buying other companies, and profits from selling the company's stock after they took it public (for yet another fee). Bain was later sued by stockholders for fraud in overstating the value of the company.
Romney's KB Toys fraud
Bain Capital 'purchased' KB for the respectable price of $ 305 million dollars on December 8, 2000.
Bain Capital only offered $ 18 million in cash, the rest was leaveraged debt put on the company.
Sixteen months after the buyout, Bain Capital paid itself $85 million in dividends in early 2002.
January 14, 2004, K·B Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.
Three years later the rest of the 156 stores were closed down.
Romney's Medicare Fraud....
In 1989, Romney led Bain Capital's purchase of Damon Corp., a medical testing company, and took a seat on the Board of Directors to better manage it. During Romney's four years, Bain tripled its investment, and Romney personally made $473,000 -- while Damon plumped its profits with Medicare fraud (running thousands of medical tests doctors didn't want, and billing Medicare for them). The company pled guilty to crimes committed during his tenure and paid a record fine of $119 million. Company President Joseph Isola pleaded no contest to fraud, and a vice president was also convicted.
Bain Capital Under Investigation For Tax Avoidance-Romney Denies Any Benefit - Forbes
Mitt Romney's Skeleton Closet -- political scandals, quotes and character
Freemason9
Gold Member
- Aug 14, 2012
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Do you find yourself wondering whatever happened to the issue of Willard Romney's tax returns? Why has the media dropped this issue? While we constantly hear of Benghazi and other things, Romney's hidden tax returns have disappeared as an issue.
Maybe he's hiding them because of this:
Did Mitt Romney Break the Law By Failing to Disclose Delphi Investments? (The Nation)
The American people have a right to know about Governor Romney's potential conflicts of interest, such as the profits his family made from the auto rescue,” said King. “It’s time for Governor Romney to disclose or divest.”
As Palast reported, a trust in Ann Romney’s name listed “more than $1 million” invested with Elliott Management, run by hedge fund guru and GOP mega-donor Paul Singer. (That’s the minimum amount of disclosure required by law, so it could have been much more than $1 million.) Singer subsequently snapped up large amounts of stock in Delphi at pennies on the dollar, and then, along with other hedge funds, demanded that the government assume pension responsibilities and bail the company out—or they would shut it down, thus crushing General Motors as well.
The government acceded, Delphi became lucrative again and then went public, and Elliott Management and its investors—including Romney—reaped enormous rewards.
Under any rational interpretation of the Ethics in Government Act of 1978, these are holdings that a presidential candidate would need to disclose, because they can be affected by government action. The Romney campaign doesn’t argue that they are not, but rather that, since Ann Romney’s trust is “blind,” there is no disclosure requirement.
Today’s letter points out, however, that Ann Romney’s trust is blind in name only. Romney himself has said that “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.” Moreover, this is not a federally recognized blind trust of the sort Romney would be forced to create if he won the White House. If it was, he would have never been able to reap his windfall from Delphi, the letter points out.
Whether or not Romney broke the law will come down to this question of how blind this trust really is, and Romney at least has some plausible deniability there. But no doubt this is a story his campaign doesnÂ’t want to see playing out in Ohio five days before the election.
Maybe he's hiding them because of this:
Did Mitt Romney Break the Law By Failing to Disclose Delphi Investments? (The Nation)
The American people have a right to know about Governor Romney's potential conflicts of interest, such as the profits his family made from the auto rescue,” said King. “It’s time for Governor Romney to disclose or divest.”
As Palast reported, a trust in Ann Romney’s name listed “more than $1 million” invested with Elliott Management, run by hedge fund guru and GOP mega-donor Paul Singer. (That’s the minimum amount of disclosure required by law, so it could have been much more than $1 million.) Singer subsequently snapped up large amounts of stock in Delphi at pennies on the dollar, and then, along with other hedge funds, demanded that the government assume pension responsibilities and bail the company out—or they would shut it down, thus crushing General Motors as well.
The government acceded, Delphi became lucrative again and then went public, and Elliott Management and its investors—including Romney—reaped enormous rewards.
Under any rational interpretation of the Ethics in Government Act of 1978, these are holdings that a presidential candidate would need to disclose, because they can be affected by government action. The Romney campaign doesn’t argue that they are not, but rather that, since Ann Romney’s trust is “blind,” there is no disclosure requirement.
Today’s letter points out, however, that Ann Romney’s trust is blind in name only. Romney himself has said that “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.” Moreover, this is not a federally recognized blind trust of the sort Romney would be forced to create if he won the White House. If it was, he would have never been able to reap his windfall from Delphi, the letter points out.
Whether or not Romney broke the law will come down to this question of how blind this trust really is, and Romney at least has some plausible deniability there. But no doubt this is a story his campaign doesnÂ’t want to see playing out in Ohio five days before the election.
Lovebears65
Gold Member
Liability
Locked Account.
Palast.
Lovebears65
Gold Member
They wont answer you , because you are right
Freemason9
Gold Member
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Here is your answer. It's very simple; Romney says he opposed the bailout because he wants to energize his "base." He profitted from the bailout because he will do absolutely anything to make money.
This is why he would make a horrible president.
If you want a boss, elect Romney.
If you want a leader, re-elect Obama.
Liability
Locked Account.
^
Freecheese thinks his one liners are somehow persuasive despite the history of nearly unremitting FAIL from The ONE.
In REAL terms, almost one in five Americans is unemployed.
The ONE has failed long enough. Liberalism has fucked us more than long enough.
Let's do something revolutionary. Let's give Constitutional Government a chance.
LogikAndReazon
Gold Member
- Feb 21, 2012
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Wow...............if only democracynow!!! can verify this for the little neo-communist darlings.........
Freemason9
Gold Member
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Why do you regard this as a "frivolous" matter, Katz? Do you believe the facts as presented are not true? Or do you simply prefer to ignore them because it is "your team" that violated the rules?
bripat9643
Diamond Member
- Apr 1, 2011
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I don't see a single actual offense in the swill you posted. Since when is making a profit a crime? It appears his accusers can't even prove he made a profit off of any Delphi investment.
GoneBezerk
Rookie
- May 14, 2011
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The UAW stole taxpayer money via the bailout and the GM bond holders lost millions in the UAW's shady deal with the goon Obamination.....so UAW scum should shut the fuck up.
Last edited:
bripat9643
Diamond Member
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There are no stock investments that aren't affected by government action. Federal law requires that elected officials reveal such investments. I don't recall there being any such election law.
It's as true as Gloria Allred's claim of perjury.
bripat9643
Diamond Member
- Apr 1, 2011
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There's nothing illegal about profiting from the bailout, moron. Ever member of the UAW profited from the bailout.
Freemason9
Gold Member
- Aug 14, 2012
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