Thursday, October 18, 2012

$15.3 million = Romney's profit from auto bail-out

Let it go bankrupt guy made more in one deal than you will in your whole life.  He did it by investing a few bucks in Delfi when it was crashing as subcontractor to the big 3.   He might have made far more if the industry did go bankrupt by buying the pieces of the wreck at scrap prices.  On the otherhand there may not have been enough buyers to have made selling the hides and bones profitable, but Mitt was willing to take that chance.
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6 comments:

  1. SargeOctober 19, 2012 at 12:31 PM

    But that was all done with by a "blind trust" arrangement - Mittens knew nothing...

    Just like Sergeant Schultz - nothing.


    Sarge

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    Replies
    1. the yellow fringeOctober 19, 2012 at 12:55 PM

      Sarge you might be right but that was late 2008 after McCain had run over him, his trust may have been turned off then, but either way, his private attorney is the director of the blind trust, so it's a sham, they can get together and Mitt run it all through him, decide every detail, and no one will ever know since it's lawyer client confidentiality.

      Delete
  2. Grung_e_GeneOctober 19, 2012 at 3:28 PM

    This is clearly one of the things Mitt is angry at President Obama about. Mitt was perched with his Bain Capital Vultures to swoop in and pick at the Detriot Auto Makers carcasses. They would have made Hundreds of Millions buying the name brands, plants and jettisioning the UAW contracts.

    ReplyDelete
  3. Whit's Whittlings2October 19, 2012 at 3:50 PM

    Fringe:

    So there was another reason for his recommending bankruptcy.

    ReplyDelete

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