Obama Benefited Financially from the Auto Bailout

The Weekly Standard ^ | October 19, 2012 | DANIEL HALPER

[Steelfish]

Obama Benefited Financially from the Auto Bailout OCT 19, 2012 • BY DANIEL HALPER Earlier today, the Obama campaign pushed around a story that they claimed proved Mitt Romney "was against the auto bailout...but personally [benefited] from it."

"Today, [deputy campaign manger Stephanie] Cutter and the Obama campaign were pushing an article in The Nation saying that Romney - who opposed bailing out the auto industry as carried out by Obama - actually made $15.3 million from the bailout through a $1 million investment with a hedge fund firm that put cash into GM supplier Delphi," the Columbus Dispatch reports. "'He was against the auto bailout...but personally [benefited] from it,' Cutter said, calling that 'hypocrisy.' 'It’s just an example of what’s good for good for Mitt Romney might not be good for everybody else. He plays by a different set of rules.'"

But Cutter did not mention how Obama himself financially benefited from the federally financed auto bailout he supported.

Obama, from his time as an Illinois state senator, is invested in the Illinois pension fund. Obama has between $50,000-$100,000 invested in the Illinois General Assembly Defined Pension Benefit Plan, according to financial disclosure forms.

And that pension fund is invested in the Delphi Corporation:

[Mr. K]

"Earlier today, the Obama campaign pushed around a story that they claimed proved Mitt Romney "was against the auto bailout...but personally [benefited] from it." "

You mean he stood against what is WRONG even though it would have benefitted him, financially?

- hey, I like this guy Romney even more...

[God luvs America]

seriously....he was against something even though he had a personal stake in the game if the decision went against his wishes....the rats are really spinning...

[Mr. K]

Oh, and Obama pushed a law for his own financial benifit??? hmmm.....

[Steelfish]

Nice analysis. Thanks

[diamond6]

What the helll is she talking about???!!!

Let me get this straight:

Romney was AGAINST THE BAILOUT, even though THAT WAS AGAINST HIS FINANCIAL SELF INTEREST?

And that’s a BAD THING?

And, just so I understand correctly, OBAMA PUSHED FOR THE BAILOUT,which enabled him to BENEFIT FINANCIALLY?

And that’s a GOOD THING?

Boy, talk about wharped values!

[circlecity]

"You mean he stood against what is WRONG even though it would have benefitted him, financially?"

That was exactly my first impression - how in the world is this a knock against Romney? He put principle before his own interests. I admire him for that. I've got to believe it sounded so unusual to a political hack like Obama he didn't even think it through before he went with it.

[lowbridge]

Surprise, surprise, surprise

[USNBandit]

Let's get a few things straight. Romney said he thought the two car companies should be allowed to go into bankruptcy and then reorganize under the protections afforded by bankruptcy law.

Despite what the Obama Administration would like the American people to believe, the auto bailout didn't keep GM from going bankrupt. All it did was break the law while deciding who the winners and losers would be in the bankruptcy. If the collapse of GM was a huge pile of garbage, Obama came in and flipped over the pile. Bond holders, non-union employees (Delphi) and the taxpayers became the losers. The UAW became the winner.

[danamco]

Just shows that he KNOWS how to increase his portfolia something that’s needed in the U.S. economy. All the ASSES are too stupid to understand!!!