UAW calls for investigation into Romney ethics violations over possible profits from auto bailouts
The UAW leadership held a press conference in Toledo, Ohio, Thursday, alleging that Romney profited from the 2009 automotive bailout of General Motors and Chrysler Group through an investment in a company that itself was invested in Delphi Automotive. The irony, of course, is that Romney opposed a government bailout of the auto industry.
"The American people have a right to know about Governor Romney's potential conflicts of interest, such as the profits his family made from the auto rescue," said UAW President Bob King in a press release. "It's time for Governor Romney to disclose or divest."
The UAW based its claim that the Romney family profited on an article published in The Nation magazine. That article claimed Romney's family made more than $15 million through the auto bailouts based on investments in a company invested in Delphi.
However, after carefully examining the article, as well as another article in The Huffington Post, it remains unclear exactly how that money was made. Furthermore, the original article noted that Romney's disclosures were not illegal, meaning, in fact, that they were legal.
No matter for the UAW.
"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.
Personnel at the Office of Government Ethics could not be reached for immediate comment.
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