The Hypocrisy that oozes from the left is nauseating, Stephanie Cutter obama’s deputy campaign manger and obama are trying to push a story about Mitt Romney claiming he opposed bailing out GM but actually made 15.3 million from the bailout through a 1 million dollar investment with a hedge fund that put cast into GM supplier Delphi, Stephanie calls this hypocrisy saying Romney plays by a different set of rules..
What Stephanie deliberately leaves out of the story is that her boss, Obama financially benefited from that same auto bailout, that 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:
Delhi,a company that Obama’s own financial investments support, received money federal money from the auto bailout–about $3 billion.
As the Detroit News reported, “Some retirees will lose up to 65 percent of benefits. Salaried retirees are expected to lose an estimated $400 million, PBGC has said. The federal government allowed GM to use nearly $3 billion of taxpayer funds to help Delphi exit from bankruptcy and let GM reacquire part of its former parts unit, which it has since resold.”
So while Romney seems to have benefited by investments made by the controller of his blind trust (Romney does not control his investments) from a policy he opposed, President Obama pretty clearly financially benefited from policies that he supported.