Through The Static

April 28, 2008

Clinton Criticizing Closure of Indiana Factory That Clinton Helped Close

Filed under: Economics,Government,Politics — disciplepete @ 5:20 pm

I haven’t been bashing Hillary on here much, and thus feel that I am failing in life. Hillary has ran an ad (and I think I saw her talking about this on TV) about this defense manufacturing plant that closed in Indiana and moved to China. The jobs and sensitive military technology went to China, and Hillary bemoans this tragedy, blaming it on W. Problem is, her husband is the one who allowed it to happen. Huffington Post:

Clinton is certainly right that it is a tragedy that 200 American jobs were killed in a corporate deal that also exported sensitive military technology to China. But she forgets to mention that it wasn’t George Bush who was in the key position to stop it — it was Bill Clinton.

Back in 1995, a Chinese consortium, which included two Chinese state-owned companies, made a bid to take over Magnequench. Because the company makes key parts for smart bombs, the takeover had to be approved by the Clinton administration’s Committee on Foreign Investments in the United States. Despite the national security and economic problems with selling off such critical manufacturing capacity to the Chinese — and despite the knowledge that such a deal would likely end in a domestic mass layoff — the Clinton administration approved the deal. This same deal — not surprisingly — paved the way for those 200 Indiana jobs and that sensitive military technology to be shipped to China.

The Clinton administration’s move was not surprising. This was an administration whose NAFTA and China PNTR record more than proved it was intent on helping Big Money interests face as little resistance to international financial transactions as possible — consequences be damned.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: