Romney attends fundraiser at home of billionaire 'big wig,' key player in financial collapse

New York City : NY : USA | Apr 28, 2012 at 4:30 PM PDT

By VeronicaS

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The cozy relationship between our elected officials and big money in corporate America is not new and may be responsible for most of the corruption in politics today. Republican presidential candidate Mitt Romney is staying true to form along this theme. He keeps preaching that he is the answer to what ails America but his actions tell another story.

A multimillioniare himself, with off-shore accounts in the Caribbean and Switzerland, this one-percenter is sure cozy with one of the key players in the financial collapse. He says he wants to get the economy back on track but it looks like he wants to continue more of the same corrupt practices that sent this country to the brink of economic disaster.

Remember the close to Deperession-like financial crisis of 2007-8 and Wall Street/big banks culpability in all this? Apparently Romney doesn't see anything unethical about this, for he has reportedly attended a fund-raiser at the home of one of these billionaires responsible for the financial meltdown.

The cozy "bedfellow" is New York hedge-Fund billionaire John Paulson, whom Romney has accepted donations from before. Apparently he wants to seal the relationship and take it a step further with this million-dollar townhouse soiree in New York City on Thursday.

Paulson is a pivotal player in the collapse of the housing market for he made a fortune at the expense of the American economy, pushing those fraudulent subprime mortgages--which ended up costing taxpayers billions of dollars in bailouts with no one punished.

As you can see Paulson is still enjoying his billions, buying the presidency -- oops, sorry, I meant giving some to presidential candidate Romney while continuing to make more. Meanwhile his buddy Romney has vowed to turn back whatever little regulations President Obama has managed to squeeze out of Washington since the financial collapse.

Is reversing regulations, already weak to begin with, Romney's way of ensuring his big campaign donator keeps making billions?

Read more on the sordid affair at The Daily Beast.

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VeronicaS is based in New York City, New York, United States of America, and is an Anchor for Allvoices.

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Post a Comment Comments: 18

Posted By

NadeemIftekhar | about 1 year ago

Nice spread of important information; especially for whose opposing Mr. Mitt. Rated.

Reply By

VeronicaS | about 1 year ago

The truth is usually not very pretty and politicians' is especially brutal.

Posted By

scotamerican | about 1 year ago

Show me a politician that is not "cozy" with money, large or small...Wait a minute!! Didn't (and continues to) O-Bama do the same thing?!

Reply By

springton | about 1 year ago

Try Ron Paul. That's why the media keeps on either ignoring him or trashing him. Of course Americans are thoroughly conditioned to accept whatever their "side" tells them. The "sides" are fake. Both political party's bailed out the crony capitalists in 2008 to "save us". Notice that the people they really saved were their Wall Street buddies. Note: the Democrats complained more, but they actually lined up in greater numbers for the bank bailouts than the Republican's did. What does that tell you?

The game is to use government to rig the system for the powerful. It works against the American people. It has been concentrating real power and wealth in fewer hands. Especially in financial services. That's the majority of the .1%. Not the 1%. The 1% includes small business people that are the current target of the corporations. Innovative businesses are a threat to the .1% as the competition they provide forces the giant corporations to lower prices and margins. That's why the government regulators are all from giant corporations. They write the regulations to suppress competitive business. The result is a weaker US economy.

This is not real capitalism. It is authoritarian capitalism. BIG difference.

Reply By

scotamerican | about 1 year ago

I'll look at Paul more closely.

/r,

Reply By

springton | about 1 year ago

Reply By

VeronicaS | about 1 year ago

The system is so corrupt that everyone has to play the game to break even.

Posted By

Dava Castillo | about 1 year ago

Thanks for the report Veronica.

Just the thought of Paulson donations has to turn the stomach of Americans who lost their homes. Until there is massive change in the way campaign donations are given--and the outlook got worse with Citizens United decision--both sides will be cozening up to the biggest wallets.

Reply By

VeronicaS | about 1 year ago

You're welcome Dava. Yes, the Dems aren't exempt from cozying up to big money. The corruption runneth deep!

Posted By

Dan Brown | about 1 year ago

No, actually it's not the same thing. According the FactCheck.org, 90% of Obama's roughly 1 million donors have given $50 or less. 81,637 gave donations exceeding $200 and thus had to be itemized.(We know whom they came from!) Are there some large donors who now contribute to the Obama-supporting super pac? Sure. But if Obama is, as your use of the word "cozy" suggests, a puppet of rich donors, why has he worked so hard to push through financial regulations (which Romney and other Republicans fight so hard against) that would rein in future abuse and concomitant meltdowns? Why did he call on Elizabeth Warren, a tireless anti-Wall Street crusader, to create the Consumer Financial Protection Bureau? In the end, it’s not as much about who gets a big donation, but more about how many big donations he gets, whom they come from, and what they buy.

Reply By

VeronicaS | about 1 year ago

Thanks for enlightening us Dan. I agree that though both sides are beholden to big money, the Reps have the monopoly on the corporate profitable 'friendship.'

Reply By

scotamerican | about 1 year ago

I would suggest that you were new to politics, but I err on the possibility of not. First, "trust but verify". The referenced website have a bias? Second, politicians "present" us with people, plans, ideas, etc. What we never see, unless there is a brave soul, is what happens behind the scenes. Third, we do not need more government. What would be next? "The National Bureau of Motor Vehicle Licensing"? And, isn't O-Bama close to some rich folks? Buffet? Soros? Who else? Can't call that NOT being cozy...

Posted By

Dan Brown | about 1 year ago

I would agree we don't need more government. We need better government. How many Americans want to do away with Social Security, Medicare, the Military, police, fire departments, public schools, clean air and water, financial regulation, and so on? Precious few. And to your last point, I still think there's a big difference between being cozy and being bought. Plus, Warren Buffet, as you know, doesn't think he should be paying less taxes than his secretary. Also, I'm not a fan of "trust but verify." At least not as far as politicians go. I'd give someone the benefit of the doubt before I "verified." But I think trusting them before verifying is a bad idea.

Reply By

springton | about 1 year ago

".....we don't need more government. We need better government." ...... The politicians have been saying that for decades Dan. They are lying. They want more powerful government. Larger government. Both sides.

As for Buffet? He was a major beneficiary of the bailouts. He gamed the system and got sweetheart deals with preferred bonds and warrants from Goldman Sachs, GE, Bank of America and other bailed out companies. He knew the bailout details and deals beforehand and made billions.

Ask yourself, why are most of the financial corporations CEO's in favor of more government spend and love deficit spending? There are two answers:
1. Key "important" bank/dealers make a profit from every US government debt instrument sold. So more debt means more money.
2. Deficit spending means that the money supply is expanded by the Federal Reserve. That insures inflation in asset prices. They not only own the assets and are dealers/insiders, it means that they are assured that leverage works for their advantage. That is why the last three years shows the greatest increase in the percentage of wealth the hands of the top .1% in US history. AND that trend is accelerating.

What we are being told is largely self serving lies.

Posted By

scotamerican | about 1 year ago

Agree on numerous points. As for Buffet, we are being told part of the facts. While he may be paying less than his employee, what is the back story? What are the other facts? What we have been told serves only to excite and anger people who aren't asking these types of questions. There is always more...

Posted By

Dan Brown | about 1 year ago

I agree we have to dig to get all the facts. Sure would be nice if all politicians told the truth and explained their positions based on facts we can all agree on from the start. I really hate the "sound bite", accusatorial era we're living in. I've been around politics for more than fifty years -- liberal politics as you might have guessed -- but I really enjoy a good debate based on facts and merit. A few years back I went to the Kennedy Library in Boston and sat down and watched several of the Nixon-Kennedy debates. Both those guys knew their stuff and debated the issues to incredible detail. You had to really pay attention to get the subtle differences in certain policies sometimes. But these guys weren't insulting our intelligence. I think the current political environment is incredibly insulting to the intelligence of American voters. We don't need to hear slogans and platitudes. We need to know what a politician truly thinks based on the facts. And if his argument has merit, it should prevail.

Reply By

scotamerican | about 1 year ago

Well thought, and well written. I truly believe that the politicians operate on with the belief that we have short memories. I know that often do. With the amount of info assailing us daily, no wonder. I also believe that we as a species thrive on strife. We grasp, hold close to our chest, and wail about the bad things. Watch those around you when something good, or bad happens. Bet people cling to the negative much more tightly.

In the end, it is like you say Dan. Get the facts. Good. Bad. Indifferent. Be a "Joe Friday". Don't suffer a knee-jerk reaction. Lots of those will make you look really dumb...

Posted By

EarlRichards | about 1 year ago

The good-looking "Mr. Mitt Hollywood" is better-looking than Bush, therefore if elected, he should be a better actor.

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