Mitt Romney is said to have profited by more than $15 million from the auto industry bailout, and a coalition of community, labor and good-government organizations is now calling on the U.S. Office of Government Ethics to investigate the Republican Party presidential candidate for non-compliance with the Ethics in Government Act and compel him to either disclose his investments or divest them.
The groups sending the complaint letter include UAW, SEIU, Citizens for Responsibility and Ethics in Washington, Public Citizen, Public Campaign, People for the American Way, and the Social Equity Group.
UAW President Bob King says:
"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. It's time for Governor Romney to disclose or divest."
"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."
The groups filing the complaint believe that Romney's undisclosed stock holdings create serious conflicts of interest, and point to the auto
bailout as a key example.
It was recently reported by The Nation that the Romney family personally profited by at least $15.3 million from the auto loans of 2009 through Mitt Romney's investment in the Delphi Corp. auto parts company. However, Romney's Public Financial Disclosure Report to the Office of Government Ethics filed on June 1, 2012, failed to reveal the windfall because he did not disclose the underlying holdings of his private equity and limited partnership funds.
A joint press conference will be held on Thursday in Toledo, Ohio, to discuss the proposed ethics violations:
WHO: UAW President Bob King
SEIU Executive Vice President Tom Woodruff
Investigative reporter Greg Palast, author of "Mitt Romney's Bailout Bonanza" in The Nation, and the book, "Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps."
WHAT: News conference on Mitt Romney's conflicts of interest with his investments, including his profiting from the auto bailout.
WHERE: UAW Local 12, 2300 Ashland Ave., Toledo, Ohio 43620
WHEN: Thursday, Nov. 1, 2 p.m.