Posted on 01/29/2013 2:00:55 PM PST by lowbridge
A Chinese company will take charge of sensitive military and battery technology following the Treasury Department’s decision on Tuesday to permit the sale of a U.S. company that was bankrolled with tax dollars to the Shanghai-based Wanxiang firm.
The Committee on Foreign Investment in the United States (CFIUS) approved the $256 million sale of A123 Systems’ operation, despite warnings from military insiders and lawmakers on Capitol Hill that the sale presents a danger to national security.
A123 Systems, which went bankrupt despite the Obama administrations’ $249 million in green energy funding to produce advanced lithium ion batteries, controls 91 patents for the sensitive technology.
“The approved sale marks yet another step in the coordinated strategy by foreign countries to acquire leading U.S. companies who are researching, developing and producing critical technologies,” said Dean Popps, co-chairman of the Strategic Materials Advisory Council. “CFIUS itself has recognized this strategy but continues to fail to do anything to prevent it.” The committee has not made public its rationale for the decision.
The decision signals a reversal from President Barack Obama’s inaugural day pledge not to “cede to other nations’ critical energy technology,” Popps said.
(Excerpt) Read more at humanevents.com ...
Treason
Treason
Why, oh why, is the Treasury Department allowed more of a say on sensitive military equipment than the Pentagon? What kind of numbnuts do we have running this country anyway? Selling sensitive anything to the Chinese, for cryin’ out loud - I want my country back!
This was sold for a pittance because no one in the West was interested in the company, which was bankrupt. I wonder if it was strategic at all.
To my recollection, Clinton was never "challenged" on the matter. The media would never have acted so presumptuously.
It was Madelyn Albright who stated that America shouldn't be the world's only Superpower.
Every day a new treasonous act. Just one should land him in federal penitentiary for life.
You don’t suppose this is part of a deal so Obams can borrow more money from the chi coms? I certainly do.
Obama Arnold or Benedict Barack?
“...despite warnings from military insiders and lawmakers on Capitol Hill that the sale presents a danger to national security.”
Sorry - national security is not an Obama priority, except insofar as it means collecting vast amounts of DHS ammo to be fired at Americans.
Unfortunately...too many who complain about this sale blindly support Free Trade with Communist China. Unless you are willing to slap tariffs on the Communist Chinese...you are part of the problem along with Obama
What do you expect? When China owns most of our debt, and they know it will never be repaid, then extortion makes perfect sense.
It's starting all over again.
5.56mm
thanks for the correction, I’ll remember that but none the less, they took orders from Clinton. The way I see it, that was treason and this jackass in the WH is doing it again and like Clinton et al, they’ll get away with it.
Well isn’t this interesting.
Just like the good old days of the Cold War, when we were selling military technology to the Soviets.
(Big) bump to that.
Outstanding point.
Hi M Kehoe! It’s so good to “see” you! And yes, it is happening again...
>>>>Well isn’t this interesting.
Just like the good old days of the Cold War, when we were selling military technology to the Soviets.<<<<<
There is a Boeing’s Moscow Technology Research Center since 1998 employing hundreds of Russian engineers co-employed by Ilyushin heavy-lift transport and Sukhoi combat plane companies.
To make things worse, a lot of parts for Boeing aircraft made in N.Salda Titanium Works in Russia, which was a Soviet air force workshop for decades.
Both Moscow Center and N.Salda facility are major sites for latest Dreamliner’s design and production.
Who cares about batteries after that?
Vig to his loan shark.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.