Thursday, November 1, 2012

Surfeit of disgust: Romneys profited from bailouts.

There are at least four levels of disgust on this.  Ann Romney's blind trust invested millions into a hedge fund, just prior to that hedge fund buying a controlling interest in Delphi Automotive.  The investment turned a massive profit, but at the expense of jobs, pensions, and billions in taxpayer bailouts.

First, it shows that when you're rich, you gain access to the sort of profit-making games that the 99% of us cannot get in on.

Second, it shows that, even as Mitt Romney argued passionately against government intervention and bailouts of the American automotive industry, he was still profiting from it.

Third, their gain came at the expense of job and pension losses; rather, these hedge funds PUSHED for job and pension cuts. The rich got richer off of the losses of the middle-class workers at Delphi.

Fourth, the people who profited from the bailouts by pushing for job and pension cuts, then spent millions to push the blame of those cuts onto the Obama Administration.

Are you disgusted yet, at the Plutocracy?

No comments: