The Committee on Foreign Investment (CFIUS) headed by departing U.S. Treasury Secretary, Timothy Geithner, is currently reviewing the sale of a U.S. technology corporation, A123 Systems, to a Chinese multi-millionaire with historical loyalties to the Chinese Communist Party. If the sale is approved, Wanxiang Group stewarded by Lu Guanqiu, reportedly the third richest man in the National People’s Congress, will take control of A123 Systems and all of its sensitive U.S. defense and utility grid contracts. How comforting?
The Committee on Foreign Investment is an intra-government agency chaired by the U.S. Treasury Secretary and made up of high ranking members of the Defense, State and Commerce Departments. Their goal is to review the national security implications of foreign investment in U.S. corporations. A123 Systems purchase by Wanxiang Group and its national security implications is now being evaluated by the guy who couldn’t get his income taxes right.
A123 Systems is a failing battery technology company granted $249 million under Obama’s economic stimulus program to develop sensitive lithium ion battery technology—originally created by NASA— and currently used by the U.S. Defense establishment. Last October, A123 filed for bankruptcy protections citing as its primary reason its inability to produce a profit. It was subsequently auctioned off and bought by Wanxiang America Corp (an auto-parts company) who managed to beat out Milwaukee based Johnson Controls Inc. for the rights to take ownership of yet another Obama stimulus funded failure. Since Wanxiang, as is everything in China, is owned by the Chinese government, Wanxiang Corps purchase of A123 Systems is being questioned by a handful of concerned government officials. You think? Really?? Somebody is actually paying attention in Washington? Wow!!
So in other words, in order to satisfy our U.S. Treasuries investors—aka China— Timothy “eliminate the debt ceiling” Geithner and other Obama Administration appointees on CFIUS are about to sanction handing over sensitive defense department battery technologies to our largest global competitor and serial technology thief, the Chinese Government. Rep. Marsha Blackburn R-Tennessee has been spearheading a group pressuring Geithner to withhold approving the deal. Sounds to me like espionage will soon be legal if you own a large enough portion of the U.S. debt. Obama sure wasn’t running on that economic reality during the campaign, just free, free, and free!
The DOD’s use for this type of battery technology is far reaching. Everything that travels underground, above or under water and in the air uses battery power. The applications for this technology are staggering. Terms like “global vehicle electrification and grid energy store” paint a picture of a potentially huge national security problem here and abroad if this technology is allowed to be purchased by the Obama debt loan sharks, the Chinese Communist Party.
As recently as Obama’s Inaugural address, the President spoke of his commitment “to keep advanced technology here in the U.S.” Not so much for national security reasons, but for the American jobs he is so busy saving and creating. And I thought gun control and immigration reform were the Presidents highest second term priority. Last time I read, Obama’s Jobs Council hadn’t met in over a year and had no meetings scheduled for the next six months. At least that’s what Jeffrey Immelt told reporters. He should know, he’s the Chairman. From what I hear, Immelt is too busy moving General Electric’s infrastructure and jobs to China to avoid Obamacare and increased corporate tax threats, so he probably doesn’t have the time to guide President Obama on his non-existent jobs plan.
If this administration approves in any measure the sale of our Defense Department technologies to the Chinese government each and every one of the Committee on Foreign Investment, Obama included should be brought up on criminal charges. The United States has been under the ever increasing and methodical menace of Obama Administration sanctioned purchases of taxpayer bailed out and funded U.S. corporations. Apparently, Obama is now willing to consider sacrificing U.S. national security interests to service his exploding debt. No wonder he cares nothing about fiscal cliffs he just pawns what he needs to pay the bills. So typical.
This is the President of the United States. This is not some foreign enemy. I don’t care if you wave your liberal flags when he trots out his “we are all in this together” shtick, your President, Barack Hussein Obama, the guy you just re-elected is ten days away from blessing Chinese espionage through acquisition as the new American economic normal. To most Democrats this may be an acceptable practice to keep his constituency in on demand abortions and SNAP, but to this American, it is clear act of treason and needs to be stopped.
Rep. Marsha Blackburn, R- Tennessee seems to be taking point on this issue. Give her a ring.