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Greg Palast: “Mitt Romney’s Bailout Bonanza: How He Made Millions from the Rescue of Detroit”
Democracy Now! / Video Report
Published: Wednesday 24 October 2012
“Investigative reporter Greg Palast reveals how Republican presidential nominee Mitt Romney made some $15 million on the auto bailout and that three of Romney’s top donors made more than $4 billion for their hedge funds from the bailout.”
We turn now to a major new exposé on the cover of The Nation magazine called, "Mitt Romney's Bailout Bonanza: How He Made Millions From The Rescue of Detroit." Investigative reporter Greg Palast reveals how Republican presidential nominee Mitt Romney made some $15 million on the auto bailout and that three of Romney's top donors made more than $4 billion for their hedge funds from the bailout. Palast's report is part of a film-in-progress called, "Romney's Bailout Bonanza." Palast is the author of several books, including recently released New York Times best seller, "Billionaires & Ballot Bandits: How to Steal An Election in 9 Easy Steps."
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ABOUT Amy Goodman
Amy Goodman is the host of "Democracy Now!," a daily international TV/radio news hour airing on more than 900 stations in North America. She is the author of "Breaking the Sound Barrier," recently released in paperback and now a New York Times best-seller.
4 comments on "Greg Palast: “Mitt Romney’s Bailout Bonanza: How He Made Millions from the Rescue of Detroit”"
October 24, 2012 7:16pm
My husband, an auto mechanic, is always complaining about the parts from China failing. He has to do the job at least twice, because the customers come back and the parts have failed so he has to make another trip to the auto parts store to replace the parts. He can not understand why we are putting up with these 2nd rate parts from China. This is in the national interest, our transportation interests. Next plane parts will come from China and when they fail, planes will crash.
October 24, 2012 12:41pm
All the """""liberals"""""" backing Obama and defending his auto bailout when, while it might have put a bandaid on a festering wound, primarily helped the rich get richer and temporarily sate their addiction to power and wealth.
Obama and Romney are both professional actors, appealing to two different contrived cultures. Neither gives a crap about you and me.
-panaceamedia-
October 24, 2012 4:02pm
GM and many related private sector jobs were saved despite those that were not, such as mentioned in the video. GM workers got an ownership stake.
Because of US ownership, the economy avoided a large further hit and the US could more easily get us to invest in important technology that would have otherwise also likely moved to China or given way to foreign competition. Because of US ownership, we now have a 54+ mpg requirement over the next decade and a half.
It's unfortunate that we could not prevent all the vultures from grabbing their flesh, but it is noteworthy that of those vultures who did profit handsomely, we have Romney and Ryan.
Imagine if R/R had been in office. What kind of crap will they do to this nation to have it really reach bottom next time around?
..and I should add, you have a strange notion of what is a band-aid on a festering wound. Besides the above and many things I won't mention (or don't know), we could either kill the patient (Rom/Ryan) or else have what we now have where GM is back on top of sales and has significant innovation and where many Americans have been employed creating products that many people are buying.
October 24, 2012 11:40am
How can people think of voting for that walking "fraud". Is he honest about anything at all.