Advisory: UAW files ethics charge
on Romney auto bail-out profiteering


Wednesday, October 31, 2012

Unions, Good Government Groups to File Ethics Complaint Against Romney For Failing To Disclose His Big Auto Rescue Profit

Groups Urge Office of Government Ethics to Make Romney Disclose or Divest

WASHINGTON – A coalition of community, labor and good-government organizations is calling on the U.S. Office of Government Ethics to investigate GOP presidential candidate Mitt Romney for noncompliance with the Ethics in Government Act and compel him to either disclose his investments or divest them.

“The American people have a right to know about Gov. Romney’s potential conflicts of interest, such as the profits his family made from the auto rescue,” said UAW President Bob King. “It’s time for Gov. Romney to disclose or divest.”

In a Nation magazine cover story, investigative reporter Greg Palast reported that the Romney family personally profited at least $15.3 million from the auto loans of 2009 through his investment in the Delphi Corp. auto parts company. Yet Romney’s June 1, 2012, Public Financial Disclosure Report to the Office of Government Ethics did not reveal this windfall because he did not disclose the underlying holdings of his private equity and limited partnership funds.

“While Romney was opposing the rescue of one of the nation’s most important manufacturing sectors, he was building his fortunes with his Delphi investor group, making his fortunes off the misfortunes of others,” King added.

The groups sending the complaint letter, including SEIU, UAW, Citizens for Responsibility and Ethics in Washington, Public Citizen, Public Campaign, People for the American Way and The Social Equity Group, believe that Romney’s undisclosed stock holdings create serious conflicts of interest. They point to the auto rescue as a key example.

Here are details of a joint news conference to be held Thursday in Toledo, Ohio:

WHO:            UAW President Bob King

                      SEIU Executive Vice President Tom Woodruff

                      Investigative reporter Greg Palast,
author of “Mitt Romney's Bailout Bonanza,” The Nation and “Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps”

                      Delphi workers

WHAT:         News conference on Mitt Romney’s conflicts of interest with his investments,      including his profiting from the auto bailout

 WHERE:       UAW Local 12

                     2300 Ashland Ave Toledo, Ohio

 WHEN:         Thursday, Nov. 1, 2pm

* * * * * * * *

Greg Palast is the author of the New York Times bestsellers The Best Democracy Money Can Buy, Armed Madhouse and Vultures' Picnic.

Palast's brand new NYT bestseller Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps, is available from Barnes & Noble, Amazon or Indie Bound and on the NOOK and Kindle.

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