Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
This is how truly incompetent the DSCC and DCCC is
For the last several election cycles, they have completely failed (or simply refused) to highlight the GOP candidates' connections to hedge fund vulture billionaire Paul Singer, the so-called Republican "financial terrorist, who has spent, sometimes in coordination with the Koch Bros., untold millions of dollars to remove as many Democrats from office as possible.
And who is Paul Singer, you may ask? For those following recent news, that name may be familiar as the name leading a group of minority vulture creditors currently attempting to shake down Argentina for every last penny in that nation's coffers.
But six years ago, Singer also shook down the people of the United States -- mightily, using the TARP bailout as a vehicle to extort from taxpayers over $7 billion, followed by the relocation of Delphi auto parts manufacturing facilities overseas to China:
http://www.huffingtonpost.com/carl-pope/romney-delphi-auto_b_2051373.html
Mitt Romney's blind-trust invested more than a million dollars in a "vulture fund" managed by Paul Singer, a Romney adviser. In 2008, while Delphi Auto Parts was in bankruptcy, Singer's fund bought, for twenty cents on the dollar, Delphi bonds -- lots of them. With Delphi under Singer's control, he threatened to shut it down unless the taxpayer bailed it out -- holding General Motors and Chrysler hostage, because if Delphi shut down, the companies would lack steering columns and other essential parts. After getting his way, and a $7.3 billion bailout from the public, Singer then closed all but five U.S. plants to move these operations and 25,000 jobs to China. Mitt Romney's investments in Singer's fund help make this loss of American jobs possible.
And then Singer went in for the kill, threatening to destroy the entire Detroit auto manufacturing industry unless the US government fork over $7.3 billion of TARP bailout money directly to his and his partner's pockets:
In a negotiating session with GM, the Treasury, the UAW, and the Singer group, a second deal was offered -- the hedge funds could get their way as long as they agreed to protect jobs. Singer and his partners refused. The hedge funds took the case to the bankruptcy court, where under the terms of bankruptcy law their combined position in ownership of stocks and bonds gave them control.
It was U.S. job protection that was the key point rejected by the vulture funds in which Romney had invested. They also insisted that the federal government and GM provide them with ongoing financial support which eventually amounted to $7.3 billion -- because without these payments they warned Delphi would stop producing the vital GM (and Chrysler) parts which only it could manufacture. Both auto companies would go under. The Treasury gave in.
After Singer and his gang collected their taxpayer money, they shipped as much of Delphi's facilities overseas to China as possible:
The newly reconfigured Delphi, with coffers fattened with taxpayer dollars, then proceeded to shut down all but five of its U.S. plants. Virtually all of these jobs were transferred to China, while reaping enormous profits -- Singer's fund alone made $1.2 billion, 3000% return on its investment. We don't know how much of this is Romney's share.
So what we have here is a vulture fund CEO who extorted from the federal government billions of taxpayer dollars, then using those proceeds to ship American jobs overseas. This man is, for all practical purposes, an American villain.
It's a no-brainer. There should be no problem for any competent staff working at Democratic leadership to create a whole slew of campaign ads highlighting Republican Candidate X's connection to Paul Singer, and making the ad work.
The question is: Why the hell aren't we seeing these ads? Why aren't Democrats raising hell about Paul Singer to the public?
12 replies
= new reply since forum marked as read
= new reply since forum marked as read
Republican scumbag preferring to focus on local issues?
Nomination for 2014 Award for "Most Ridiculous Stretch to Blame Democrats about Something, Right before the Midterms.
Let's agree to call the reward "The Pukey"
Why bash Democratic groups because of Republican criminals?
Why do it right before important midterms?
Why?
