Old article new context Libya, Fiat, Chrysler

Discussion in 'Politics & Religion' started by jficquette, Mar 22, 2011.

  1. Whose interest was President Obama serving when on March 30 he ordered Chrysler to either conclude a merger with Italian automaker Fiat within 30 days or lose federal bailout funds? That untimely announcement placed Chrysler in the untenable position of accepting whatever Fiat offered, literally cutting the legs out from under the struggling American carmaker’s negotiating platform. Some financial analysts had already determined that what Fiat was offering was a very bad deal for Chrysler. “The steal of the century,” Forbes columnist Jerry Flint wrote of the deal back in January, “Fiat gets Chrysler for next to no money, and American taxpayers must throw in $7 billion to make it happen.” By most accounts, Chrysler was in real trouble, but by announcing to the world that Chrysler had no other alternatives Obama effectively told Fiat that Chrysler would accept whatever they offered, eliminating Chrysler’s ability to cut a better deal.

    Why would President Obama undercut a US company, involved in a heated negotiation, in favor of a foreign company’s interest? Clear answers are not available, but there is one very curious shareholder in Fiat that raises some interesting questions. The African nation of Libya owns at least a 2 to 3 percent stake in Fiat and thus makes Muammar Qaddafi, who controls the wealth of Libya, a direct beneficiary of the deal favoring Fiat.

    http://townhall.com/columnists/scottwheeler/2009/05/12/obama_-_qaddafi_coincidence/page/full/
     
  2. Lucrum

    Lucrum

    That guy is as slimy as a slug.
     
  3. Obama should make up for his muslim background by nuking Iran, to show that he loves USA and Israel.
     
  4. pspr

    pspr

  5. Little doubt in my mind that Obama got money from Gadaffi which is probably why he set on the fence for so long.