Obama Sells Taxpayer Bailed-Out A123 Systems to Chinese

Just how stupid and depraved does Obama have to be to sell this kind of technology to America’s enemies?

From Fox News.

The U.S. government has approved the sale of U.S. taxpayer-backed A123 Systems to a Chinese company, despite security and economic concerns about sensitive technology changing hands.

A representative with A123 Systems confirmed Tuesday to FoxNews.com that Wanxiang America Corp. has gotten approval from a Treasury Department agency to take over “substantially all” of the non-government business assets of the lithium ion battery manufacturer.

“We’re pleased the government has completed its review and provided us with the go-ahead to finalize this transaction,” Pin Ni, president of Wanxiang America, said in a written statement.

A representative with the Committee on Foreign Investment in the United States — an inter-agency panel chaired by the Treasury Department that would have made the decision — declined to comment.

……At the helm of Wanxiang Group is auto parts magnate Lu Guanqiu. One year ago he was the third richest man in the National People’s Congress, and today he continues to have close ties with the Communist Party. That worries some lawmakers.

“Congress is seeing an increasing threat coming out of Beijing where they are methodically purchasing U.S. corporations,” Rep. Marsha Blackburn, R-Tenn., told FoxNews.com last week. “The problem with the A123 sale is not only have taxpayers had a $230 million stake in the company’s success but Beijing will now have access to sensitive materials that are currently being used in U.S. defense and utility grid contracts.”

Blackburn said the sale wasn’t a partisan issue but a “clear-cut one of national security.”

A123 manufactures high-grade lithium batteries that have military applications.

People tend to forget that China is a belligerent country ruled by a communist authoritarian regime.
Some reminders:

ChiCom Air Show Exhibition Depicts Their Forces Attacking a U.S. Navy Vessel

The Latest in ChiCom Hostilities.

China’s Military Buildup

Chinese Officer: ‘China Should Topple U.S. Dominance’

 

More on our own government’s treason:

Feds Allow China to Take Over U.S. Bank

And stupidity:

State Department Confused Over China’s New Aircraft Carrier

 

The Chinese have engaged in cyber attacks, spying, economic espionage, and actual threatening of U.S. Naval vessels. Yet Obama and the Feds think giving them money, technology, and contributing to the Chinese threat are good ideas.

And they have fits over Americans owning “assault weapons”.

We are so screwed.

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