An important piece of news was released today, on a holiday where most Americans are busy with family. Fiat (an Italian company) has just reached an agreement to buy the rest of Chrysler.
I'm kind of a smart guy, but I really don't understand what's going in America today.
A few years ago, the Obama Administration used American tax money to bail out Chrysler so a majority stake could be sold to an Italian company (Fiat). That was their plan. The guy who created the plan (Steven Rattner) is a frequent guest on "Morning Joe" on MSNBC. Rattner had zero experience with the auto industry before being named Obama's "Car Czar". He continues to defend the plan to sell a majority stake in Chrysler to an Italian company.
Now the Italian company has purchased the rest of Chrysler.
Obama also used American tax money to subsidize a company (Fisker) who builds cars for the wealthy ($100,000+ each) in Finland. FINLAND. Fisker is most famous for building cars that catch fire.
We are a Chrysler family. I have Jeep Liberty, my wife has a Dodge Caravan, and my oldest daughter also just bought a used a Jeep Liberty. I've owned Chrysler's since I was a kid (also a couple of Fords, one GM and one BMW).
I have a question for my UAW and Teamster friends.
I understand that the Republicans are largely clueless. No debate on this.
But how is using tax money to subsidize foreign companies buying American companies and building products overseas good for America?
HOW???
Like I said, I'm kind of a smart guy, but I really don't get it. I don't get is at all.