Anyone Smell That? I Think It's Hypocrisy

The Chinese government bought a good American company in Indiana, laid off all its workers and moved its critical defense technology work to China.

It’s a story with a dramatic, political ending. Republican President George W. Bush could have stopped it, but he didn’t.

If she were president, Clinton says, she’d fight to protect those jobs. It’s just the kind of talk that’s helping her win support from working-class Democrats worried about their jobs and paychecks, not to mention their country’s security.

What Clinton never includes in the oft-repeated tale is the role that prominent Democrats played in selling the company and its technology to the Chinese. She never mentions that big-time Democratic contributor George Soros helped put together the deal to sell the company or that the sale was approved by her husband's administration.

Yep, that's George Soros, the same George Soros who founded Moveon.org and blasted George Bush and Republicans in general.  The same guy who bought up companies, fired everyone, and sold out to the Chinese.  And yet, we have brainwashed Democrats who swear this guy is the second coming of Jesus or some such bullshit.

He sold out American jobs, AND America's security in selling defense technology to the Chinese.

Then there's Hillary.  Oh Hillary, I swear there's no depths to what you'll say or do to get out of trouble:

In response, the Clinton campaign said that Bill Clinton's administration had gotten assurances at the time it approved the deal that production would remain inside the United States, and that the shift of jobs to China didn't occur until under the Bush administration.

That's right folks, she's trying to blame the Bush administration for failures that her husband made.  Wait, it gets better:

“Right here, over 200 Hoosiers built parts that guided our military's smart bombs to their targets,” the New York senator says.

“They were good jobs, but now they're gone to China. And now America's defense relies on Chinese spare parts. George Bush could have stopped it, but he didn't. As your president, I will fight to keep good jobs here and to turn this economy around. I'm Hillary Clinton, and I approve this message because American workers should build America's defense." Here’s how she told it a few weeks ago at a union meeting in Washington.

“A Chinese company bought the company, called Magnequench, and they wanted to move the jobs to China. The people in Indiana protested, did everything they could to convince the Bush administration that this was a terrible mistake. Couldn't even get a hearing,” she said.

“The jobs went to China, but so did the technology. And now the United States military has to buy the magnets we need for the smart bombs we invented from China,” she said as the union members booed. Here's the complete story.

But I have a question.  If the Chinese don't respect our Intellectual Property such as movies, music, and games, why do we need to respect theirs?  Why can't we make these magnets ourselves?  I'm sure the technology is already in our hands, it's just a matter of manufacturing it ourselves.

And if the Chinese protest?  Fuck em, they should have thought of that when we protested out of IP.

In 1995, General Motors decided to sell the Indiana-based Magnequench to a Chinese-American consortium.

The consortium included:

• San Huan New Materials and Hi-Tech Co, a company owned by the Chinese Academy of Sciences;
• Onfem Holdings, a company controlled by the State Nonferrous Metals Industry Administration in the Peoples Republic of China;
• Soros Fund Management, headed by George Soros;
• The Sextant Group, founded by Archibald Cox Jr.;

Because Magnequench made magnets for smart bombs, the sale to a group that included foreign owners required approval under a 1988 law.

After a 30-day review, the Clinton administration’s Committee on Foreign Investment in the United States, which includes representatives of the Pentagon, approved the sale in 1995.

The buyers reportedly promised to keep manufacturing in the United States.

Yet in 1998, they started building a plant in China, close to the source of the raw materials used in the magnets.

The company reorganized in 1999, buying out Soros as well as Onfem Holdings.

In 2000, Magnequench bought a magnet factory in Valparaiso, the same year it started operations at its China plant.

In 2001, it closed its original plant in Anderson, Ind.

And in 2003, it decided to close the Valparaiso plant, laying off its 225 workers.

If they broke the agreement, then we should open our own plant and make the magnets ourselves and tell Magnequench that they need to sell their wares elsewhere.  They broke the deal, so they face the consequences of that.

Of course, there's a quick rebuttal from the Clinton campaign.

Today, McClatchy published an article with the headline "Clinton blasts Bush for not stopping a project Bill OK'd," implying that the Clinton administration approved the move of a Indiana factory to China. In fact, the Clinton administration specifically prohibited the company, Magnaquench, from moving Indiana jobs overseas.

In 1995, Magnaquench was purchased by a consortium of investors that included two Chinese investors. At the time, the purchase was reviewed by the Committee on Foreign Investment in the United States (CFIUS), and was approved on the condition that the production and the technology to produce neo-magnets would stay in the U.S.

In 2003, the Magnaquench investors announced their intention to move the production facility in Valpariaso, Indiana to China. Senator Bayh and numerous others in Congress raised concerns that the move violated the initial terms of the deal, and introduced new national security problems. They pleaded with President Bush to review and halt the deal. President Bush refused, and the jobs and production were moved to China.

But people need to understand, had your savior George Soros and Bill Clinton not sold the company out to the Chinese in the first place, we wouldn't be dealing with this problem now.  It's this significant lack of long term thinking that needs to be smacked on the nose with a rolled up newspaper.  Simply put, you don't sell out military technology to anyone if it's going to cause problems in the future, INCLUDING for the next President to deal with.  You do what's right for the American public, not the pocketbook of your paymaster.

 

Travis

travis@rightwinglunatic.com