Folks, I love the fact that, the Truth is at Play........We lookforward to good entertainment. How about Romney telling us more about SENSATA Romney's Bailout Bonanza. "Romney doesn't have a plan to create jobs, except to ship jobs overseas.....in the pioneering of outsorcing jobs, he will push the Government to Bankruptcy, collect recoverables shared amongst the Special Interest of the wealthy 1% strip-off the middle class and repeat the same failed policies which nearly crashed the Nation by causing economy crisis President Obama helped us come out of in the first place. Romney should tell people what plan he had to sustain those who lost their jobs when he shipped jobs overseas.......and How shipping jobs out of the Country helps with creating jobs locally......Who benefits and who looses....... Judy Miriga Diaspora Spokesperson Executive Director Confederation Council Foundation for Africa Inc., USA http://socioeconomicforum50.blogspot.com Romney's Bain Selling Out American Workers to China Published on Oct 10, 2012 by Steelworkers Mitt Romney and Bain Capital continue to move good, American jobs overseas for big profits. Watch and share the story of Sensata workers in Freeport, Ill., to see how selling out American workers and moving jobs to China continues to line Romney's pockets. nothing against these people - but romney has done worse search Mitt Romney's Bailout Bonanza. but that is capitalism for you - all the power is with the capital - people without capital - are workers for capital - not his fault -yes, hes a liar and an exploiter - but that is the system. Greg Palast: "Mitt Romney's Bailout Bonanza: How He Made Millions From The Rescue of Detroit" Published on Oct 18, 2012 by democracynow DemocracyNow.org - 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." "Mitt Romney's Bailout Bonanza: How He Made Millions from the Rescue of Detroit" (1 of 2) Published on Oct 18, 2012 by alowlyapprentice 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 bestseller, "Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps." Mitt Romney's Bailout Bonanza  (AP Photo/Evan Vucci) This investigation was supported by the Investigative Fund at the Nation Institute and by the Puffin Foundation. Elements of it appear in Palast's new book, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). Research assistance by Zach D. Roberts, Ari Paul, Nader Atassi and Eric Wuestewald. 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, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it. One of the hedge funds profiting from that bailout—
$1.28 billion so far—is Elliott Management, directed by
Paul Singer. According to The Wall Street Journal, Singer has given more to support GOP candidates—$2.3 million—than anyone else on Wall Street this election season. His personal giving is matched by that of his colleagues at Elliott; collectively, they have donated $3.4 million to help elect Republicans this season, while giving only $1,650 to Democrats. And Singer is influential with the GOP presidential candidate; he's not only an informal adviser but, according to the Journal, his support was critical in helping push Representative Paul Ryan onto the ticket. Singer, whom Fortune magazine calls a "passionate defender of the 1%," has carved out a specialty investing in distressed firms and distressed nations, which he does by buying up their debt for pennies on the dollar and then demanding payment in full. This so-called "vulture investor" received $58 million on Peruvian debt that he snapped up for $11.4 million, and $90 million on Congolese debt that he bought for a mere $20 million. In the process, he's built one of the largest private equity firms in the nation, and over decades he's racked up an unusually high average return on investments of 14 percent. Other GOP presidential hopefuls chased Singer's endorsement, but Mitt chased Singer with his own checkbook, investing at least $1 million with Elliott through Ann Romney's blind trust (it could be far more, but the Romneys have declined to disclose exactly how much). Along the way, Singer gained a reputation, according to Fortune, "for strong-arming his way to profit." That is certainly what happened at Delphi. Sensata: Mitt Romney profits as Bain sends American jobs to ChinaMon Oct 15, 2012 at 09:27 AM PDT When, in his first debate with President Obama, Mitt Romney claimed to know nothing about tax breaks for shipping jobs overseas, did he spare a thought for workers at Sensata Technologies, a company controlled by Bain Capital with significant investments from Romney himself, who are about to become unemployed as their jobs are moved to China? Romney said to Obama that "you said you get a deduction for taking a plant overseas. Look, I've been in business for 25 years. I have no idea what you're talking about. I maybe need to get a new accountant." Obama was right; Romney was wrong. Romney wasn't just wrong, though. He was heartless, dismissing the possibility of tax breaks for offshoring plants as a matter for his accountant, not a matter of people's lives and livelihoods. And at the very moment he was saying this, Sensata workers in Illinois were fighting to keep their jobs from going to Chinese replacement workers they had been forced to train themselves. Though Sensata is very profitable, Bain saw a chance for more profits in China, and saw 170 American jobs as disposable in pursuit of that profit. The Sensata workers have been fighting for months, fighting to save their jobs or even to get people to pay attention to what's happening to them. They're not just losing jobs they've held for decades, in some cases. Workers close to retirement won't get their retirement. Instead, they'll get severance. But severance packages were cut shortly before the layoffs were announced, so that, for instance, one worker who would have gotten more than a year of severance pay will now only get 26 weeks. This is a fight for what they've earned through years of hard work. It's a fight for their ability to pay the mortgage or send their kids to college, for their lives as they have lived them for decades working in this plant. They've fought to get a moment of Mitt Romney's attention, anything beyond a canned statement that he has nothing to do with the offshoring he'll profit from. When they tried to deliver a letter to Romney at a Romney campaign office, campaign staffers called the police on them. They've delivered 35,000 petition signatures to Bain Capital asking for their jobs to be saved. They've camped out outside the factory, and three of their supporters, including the teenage daughter of a Sensata worker, have been arrested trying to block equipment from being moved out of the plant. And for Mitt Romney, this is a glib line about needing a better accountant. It's about squeezing a little more out of the tens of millions of dollars he gets from Bain every year. Not that voters would know anything about it if he did, since he's so determined to hide his tax returns from us peons. We do know that Romney has already gotten personal tax savings for donating Sensata stock to charitable foundations. Beyond that? He won't let us know what he's been up to. It is true that the amount of the tax break Sensata stands to get for moving operations overseas is small compared to the amount it will save by cutting well-paid jobs in America and replacing them with jobs paying 99 cents an hour, 12 hours a day in China. But I guarantee you Romney's accountant knows all about it—and that Romney does, too. Even in the middle of a tight race for president, Mitt Romney doesn't care to help these workers. Maybe if they were from Ohio, not Illinois, things would be different. But they're just workers making him profit, not valuable swing-state voters, so to Romney, these Americans are disposable.
Tagg Romney's Company Misled Reporters About Its Relationship With Ponzi Scheme–Linked Firm The private equity firm run by Tagg Romney—Mitt's eldest son, who is now taking a leadership role in guiding his father's presidential campaign—misled reporters last year about its involvement with a company run by men accused of taking part in a multibillion-dollar Ponzi scheme. Last year, I reported that Tagg had formed a business partnership with several North Carolina investors who are still facing a lawsuit for receiving bonus pay for selling CDs as part of the $8 billion Stanford Financial Group Ponzi scheme. In a nutshell, Tagg helped these investors form a company—called Solamere Advisors, a nod to Tagg's firm Solamere Capital—shortly after their boss, Allen Stanford, was caught by law enforcement for his elaborate Ponzi fraud. When I interviewed him in Las Vegas, Tagg told me that his associates were "cleared" of any wrongdoing associated with the Stanford Ponzi scheme. Court documents directly contradict Tagg and show that the lawsuit has not been dismissed. The New York Times followed up on my story with its own report and confirmed that Tagg's business partners received incentive pay for selling bunk Stanford CDs. They wrote about one Stanford victim, a local Charlotte businessman and philanthropist named Herman Stone. Stone was pressured by Brandon Phillips, an executive working now for Tagg's firm, into putting $2 million into a fraudulent Stanford CD and lost everything. Solamere Capital attempted to distance itself from the story by claiming that their business was not actually connected to the Ponzi-tainted firm, Solamere Advisors. In a statement to ABC News, they claimed that their managers, not Solamere Capital itself, were involved (emphasis added):
However, Solamere Capital's statement, provided to ABC News, is false. Disclosures from the Securities and Exchange Commission show that Tagg's company indeed maintains ties with the Ponzi-linked firm, Solamere Advisors. The claim that Solamere Group didn't invest directly in Solamere Advisors, the firm employing former Stanford employees, appears to have been an attempt to shield Mitt Romney. Mitt invested about $10 million into Tagg's Solamere Capital venture, which would suggest Mitt has a direct financial relationship with folks involved in a Ponzi scheme. That's because Solamere Capital pools together investment money to co-invest in other companies. According to this form and this form filed with the SEC, Solamere Group owns a large stake in Solamere Advisors (referred to in the documents as "CAMG Solamere.") So it is impossible to argue that Solamere Capital—the Romney family's investment company—does not have direct financial ties with Solamere Advisors, the firm filled with executives who sold CDs as part of the Stanford fraud. The Stanford scandal is second only to the case of Bernie Madoff. The disclosures are made on part of the SEC website enhanced by the new Dodd-Frank law, the Wall Street reform Romney says he wants to repeal. For more on the complex web of relationships spun by Tagg Romney's private equity firm, see my new story for The Nation and the Nation Institute. McCain voters defecting to Obama are older white malesBy Gabriel Debenedetti | Reuters – 8 hrs ago
(Reuters) - In today's highly polarized political environment it is somewhat surprising to find voters who backed John McCain in 2008 and now support President Barack Obama, but they exist. Roughly 5 percent of respondents in Reuters/Ipsos polls said they chose the Republican contender in 2008 and will switch to Obama in 2012. This number peaked at around 9 percent two separate times over the summer, according to data collected since January. Who are these defectors? Jeff Waltrip, 56, is a retired electrician and retail worker who has voted Republican all his life. But in his view Obama "has done a good job with what he was left with, and I truly believe that allowing Mitt Romney in there is going to make the world a whole lot worse than it is now." Waltrip said he liked the Republican ticket in 2008 because McCain is a veteran and because Sarah Palin "made me laugh." The McCain-to-Obama switchers are 55 percent male, and 34 percent of them are 55 or older. (Overall, Obama trails Romney 34 percent to 52 percent among white men over 50.) About 72 percent of them are white. They are largely from the East Coast; nearly 4 in 10 live in the mid- or South Atlantic. Nearly 3 in 10 finished their education after high school, and nearly 2 in 10 have a bachelor's degree. Two-thirds say they are absolutely going to vote, choosing "10" on a 1-10 scale for likelihood of voting. Even though 38 percent of all voters believe the economy is the election's most prominent issue, just one-third of the McCain defectors agree. Character matters more. "Right now if I had to choose it would be Obama, because he's more personable," said William Holliday, a 58-year-old retiree from Convis Township, Michigan. "Romney has changed his position so many damn times, you don't know what he thinks at all. But they're both liars." Holliday said that in general he leans Republican. "I did vote for McCain four years ago in spite of the fact he picked Palin. Because I thought that was a cheap trick he pulled there." He worries that if Romney is elected he will put "Cheney and Rumsfeld back in there to run the show." Jeffrey Baker, 56, a retiree in Strong, Maine, thinks Romney's refusal to release his taxes disqualifies him. "If you can't be honest from the start, I don't want you in the Oval Office," he said. Romney, whose personal worth has been estimated at roughly $250 million, has faced criticism from Democrats for not releasing enough years' worth of his tax returns. "Four years ago I voted for John McCain because I thought he was more experienced, and I thought we needed someone with some military background," Baker said. "Mitt Romney - I don't believe he has the experience that's needed. He's a businessman, he knows how to make money. That's all well and good, but we've got people to worry about." Baker is unhappy with the entire campaign. "There's nothing going on. No information, no nothing," he said. "Everybody says they're going to do this, they're going to do that. But nobody says how they're going to do it." He's basing his vote on a general sense that "Obama is more for the whole country than Romney is," alluding to the leaked video. "Romney, that's his honest feelings. He doesn't really care about the 47 percent." Waltrip also believes Romney is out of touch with lower-income Americans, and he mistrusts the candidate's religious convictions. "I've always felt like the Mormon Church was more of a cult," Waltrip said. "I'm sort of afraid that his interests are going to be strictly for the Mormon Church." Overall about 34 percent of likely voters said they would be less likely to vote for a presidential candidate if he or she were Mormon, according to a Reuters/Ipsos poll conducted during the week ending October 21. The defectors to Obama remain a smaller subset of respondents than those who voted for him in 2008 and now support Romney. The Reuters/Ipsos polling shows 10 percent of voters plan to cross the aisle in that direction. (The Reuters/Ipsos database is now public and searchable here: tinyurl.com/reuterspoll) (Editing by Prudence Crowther) Study confirms Romney's Bain Capital shipped jobs overseas
 Mitt Romney likes to take the press to closed factories where jobs went off shore. Study shows he helped out source American jobs. Credits: Chip Somodevilla/Getty Images
Mitt Romney claims in every speech that he "knows how to create jobs." Critics claim that Romney created jobs 'overseas'. A study by the Washington Post released Thursday confirms that when Romney ran Bain Capital, it did indeed invest in companies that outsourced jobs overseas. In fact, Romney's Bain was a pioneer in outsourcing. Tom Hamburger wrote a column in the Washington Post that concluded that "During the nearly 15 years that Romney was actively involved in running Bain… it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission." Romney's entire campaign is based on his premise that he will do more to create jobs than President Obama. He claims he created more than 100,000 jobs at Bain Capital, a claim that no one has been able to verify. In fact, Romney's Bain fired thousands of workers in downsizing moves, and put many companies into bankruptcy causing thousand more to lose their jobs. Romney himself admitted 20% of his investments at Bain ended up in failure. Failure means lost jobs. Most of the jobs Romney claims he created came from companies like Staples years after he left Bain. As Governor of Massachusetts, Romney's record of job creation was 47th out of the 50 states during a time the economy was growing. When he was Governor, he outsourced the state's own call center overseas, falling back on his experience at Bain. On the campaign stump, Romney is critical of outsourcing because of the toll it has taken on states in the rust belt that he hopes to win in November. He has repeatedly pledged he would protect American employment by getting tough on China. "They've been able to put American businesses out of business and kill American jobs," he told workers at a Toledo fence factory in February. "If I'm president of the United States, that's going to end." Speaking at a metalworking factory last week, Romney cited his experience as a businessman, saying he knows what it would take to bring employers back to the United States. "For me it's all about good jobs for the American people and a bright and prosperous future," he said. What Romney is not telling voters is that he played a big role in helping those companies ship American jobs to China, India, and other low wage countries with human rights issues including using children as cheap labor. The Washington Post examined securities filings of companies Romney invested in at Bain Capital. They found Bain invested in firms that actually helped other companies move or expand operations overseas. While Bain was not the largest player in the outsourcing field, the Post found, "the private equity firm was involved early on, at a time when the departure of jobs from the United States was beginning to accelerate and new companies were emerging as handmaidens to this outflow of employment." The Post reported that Romney campaign officials repeatedly declined requests to comment on Bain's record of investing in outsourcing firms during the Romney era. Romney ran Bain Capital until 1999 and earned a reputation for smart, hands-on management. He can't use the Enron CEO's line that he had no idea what the company he ran was doing. Apparently Mitt has forgotten about his role in outsourcing American jobs. Maybe he developed memory loss with his advancing age. The Post article quoted a press release issued by Modus Media in 1997, boasting that its expansion of outsourcing services took place in close consultation with Bain. "Terry Leahy, Modus's chairman and chief executive, was quoted in the release as saying he would be "working closely with Bain on strategic expansion." Bain had three directors on the corporate board of Modus. Romney's Bain also invested in companies that moved plants out of the country. One of those was a California bicycle manufacturer called GT Bicycle Inc. that Bain bought in 1993. Bain also acquired a Colorado manufacturer and moved its jobs to Mexico and Ireland. Bain also helped semiconductor jobs to flee the country as well. The moral to this story is that Romney was a job creator—overseas. Romney exposed Published on Oct 15, 2012 by John Hankey Romney's secrecy in business is detailed, and revealed; as well as his role as a drug money launderer for GHW Bush; his connection, through Bush, to CIA death squads in Central America; his role in 9-11; in the murder of US ambassador to Libya, Christopher Stevens; and the significance of his endorsement of and by Cheney. Mitt Romney Exposed: Must Watch Before You Vote – What Is He Hiding? – Why Must He Lie?Why is he hiding his tax returns? It isn't likely something as small as paying little taxes, is it? Or is it something much more dangerous to his goal of being president? Supported the killing of catholic priest? Wow, Mitt is a leader in the Mormon Cult that appears to have some connections with the money that allowed people to be murdered? Is this why we can't see his tax returns? Why is it so difficult to let America see your tax returns, Mitt? UNLESS you are hiding something. The Rich Mormon named Mitt Romney that wants to be President will tell you ANYTHING to get your vote. Clearly, we have never witnessed a man that will lie, be exposed and lie again, and again. Larger and larger coverups are exposed about Mitt Romney in this video. Watch the entire thing and you will be shocked. He has actually managed to fool some people into trusting him. Even Fox News destroyed him during the campaign for Republican nomination. Mitt Romney is against the elderly, women, minorities, immigrants, big bird (thus our children) and his Mormon religion has clearly put blacks below whites and the holy book that Romney believes is 100 percent true says that people were punished by giving them black skin for being evil. We do NOT want a racist, lying, cult leader to rule this country. We do not want Mitt Romney. If you think George Bush was secretive, Romney is far worse. Romney will do all he can to hide information from the public and has demonstrated that while he was governor, having all the hard drives in his administration destroyed when he left office. What are you hiding Mitt? Show us your TAX RETURNS. I wonder, after seeing this video, what will Romney's tax returns show us. What connections will be turned up? What are you hiding Mitt Romney. |
Karibu Jukwaa la www.mwanabidii.com
Pata nafasi mpya za Kazi www.kazibongo.blogspot.com
Blogu ya Habari na Picha www.patahabari.blogspot.com
Kujiondoa Tuma Email kwenda
wanabidii+unsubscribe@googlegroups.com Utapata Email ya kudhibitisha ukishatuma
Disclaimer:
Everyone posting to this Forum bears the sole responsibility for any legal consequences of his or her postings, and hence statements and facts must be presented responsibly. Your continued membership signifies that you agree to this disclaimer and pledge to abide by our Rules and Guidelines.
0 comments:
Post a Comment