Published January 13, 2012
Last week, Chrysler became a foreign car company. The Italian car company Fiat was already given a 40% stake in Chrysler thanks to the car czars that arranged the auto bailouts. But last week Fiat upped its stake in Chrysler to 60% and is going to take over full managerial control of the company.
In other words, Chrysler is now an Italian car company.
So while we were told that billions of our tax dollars were needed to save an American car company, that car company is now Italian. I know, it doesn't make sense. And it gets worse.
Yesterday, it was announced that the Italian car company called Chrysler is in discussion with the Obama administration to grab even more of your money. This time the money would come from the same geniuses that gave us Solyndra.
The very same branch of the Energy Department that poured a half billion dollars down the Solyndra hole is about to give Fiat billions of new loans for building "advanced-technology, fuel efficient cars."
Could things get any crazier?
While we're all wasting time arguing about Mitt Romney and whether private equity firms like Bain Capital are good or bad for America, your money is about to be given to an Italian car company, in a deal arranged by the folks who brought us Solyndra. Whatever you think of Bain Capital, that's private money. This is your money. And it's going on even after we should all know better.
Let's hope the Republican candidates stop talking about Bain Capital long enough to talk about what's really got to change in this country.