Mitt Romney’s Bailout Bonanza Mitt Romney’s Bailout Bonanza
How Mitt and Ann made millions—and Mitt’s hedge fund donors made billions—from the auto-industry rescue that he condemned.
Oct 17, 2012 / Feature / Greg Palast
Mr. Singer and Mr. Ryan Mr. Singer and Mr. Ryan
The auto bailout bill, proposed by President George W. Bush, passed in December 2008 with only thirty-two Republican votes. Among their number, to the surprise and consternation of the Tea Partiers among his supporters, was Wisconsin Representative Paul Ryan. But Ryan’s vote likely came as no surprise to the hedge funders who benefited from it the most—particularly Paul Singer, with whom Ryan has enjoyed a long and cozy relationship. Singer and his firm, Elliott Management, are the No. 1 funders of Paul Ryan’s Prosperity PAC. Indeed, it was Singer, reports The Wall Street Journal, who helped push Ryan onto the national ticket as the vice presidential nominee—but only after Ryan turned down Singer’s suggestion that he run for president himself. Ryan had already shocked his supporters by voting for the Troubled Asset Relief Program, whose funds were used to boost the auto bailout and enrich Singer’s Elliott Management. In addition to pouring $2.8 billion into Delphi, TARP sent $12 billion to Ally Financial, formerly the GM finance unit GMAC. One of the biggest holders of Ally is Paul Singer’s fund.GP
Oct 17, 2012 / Feature / Greg Palast
Election 2012 and the Missing Millennials Election 2012 and the Missing Millennials
Young voters gave Obama a decisive win in 2008. Four years later, the love affair is on the rocks.
Oct 17, 2012 / Feature / Zoë Carpenter
Hershey’s Charity for Children Became GOP Slush Fund Hershey’s Charity for Children Became GOP Slush Fund
A new attorney general in Pennsylvania could launch a real investigation into the diversion of charitable resources to luxury golf and Republican politics.
Oct 17, 2012 / Feature / F. Frederic Fouad
Michelle Obama’s Moves Michelle Obama’s Moves
Has the first lady’s anti-obesity campaign been too accommodating toward the food industry?
Oct 11, 2012 / Feature / Bridget Huber
Tagg Team: The Romney Family Recipe for Crony Capitalism Tagg Team: The Romney Family Recipe for Crony Capitalism
How investors in Tagg’s firm Solamere Capital can cash in if his father wins.
The Myth of the ‘War On Coal’ The Myth of the ‘War On Coal’
Despite Romney’s claims, Obama poses little threat to the industry.
Oct 10, 2012 / Feature / Ken Ward Jr.
The Economic Crisis Both Presidential Candidates Are Ignoring The Economic Crisis Both Presidential Candidates Are Ignoring
Instead of addressing the real problems, Obama and Romney are focusing on deficit reduction.
Oct 10, 2012 / Feature / Sherle R. Schwenninger
On the Road With Working America On the Road With Working America
In the depressed former steel towns of western Pennsylvania, disillusionment with all politicians is deep. The AFL-CIO's labor affiliate is trying to change that.
Oct 10, 2012 / Feature / Josh Eidelson