Did Ann and Mitt Romney gain millions from the auto bailout?

Those of us living in Michigan, especially those in the Detroit area, are familiar with the sad story of Troy-based Delphi Automotive’s financial struggles. We recall how the workers’ wages were slashed and their pensions taken away. And we know that Delphi (the spinoff of General Motors’ Delco division), as a major auto parts manufacturer, was essential to keeping GM and Chrysler going after the managed bankruptcy.
As a result, Delphi indirectly received financial aid from the federal bridge loans to GM and Chrysler – some peg the amount at more than $10 billion.

Now, economist and investigative journalist Greg Palast, author of “ Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps,” believes he has discovered the rest of the story.
Palast claims that Mitt and Ann Romney received millions of dollars in profits by investing in one of the venture capital firms that scooped up a big piece of Delphi.

Here’s a portion of the excerpts from Palast’s book, as published in The Nation:
“Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout -- and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical -- more than 3,000 percent on their investment.

“… One of the hedge funds profiting from (the Delphi) bailout --
$1.28 billion so far -- is Elliott Management, directed by
multi-billionaire Paul Singer. According to The Wall Street Journal, Singer has given more to support GOP candidates -- $2.3 million -- than anyone else on Wall Street this election season. … And Singer is influential with the GOP presidential candidate; he’s not only an informal (Romney) adviser but, according to the Journal, his support was critical in helping push Representative Paul Ryan onto the ticket.

“Other GOP presidential hopefuls chased Singer’s endorsement, but Mitt chased Singer with his own checkbook, investing at least $1 million with Elliott through Ann Romney’s blind trust (it could be far more, but the Romneys have declined to disclose exactly how much).”

Is it too late for the Obama team to once again clamor for Romney to release his tax returns?