Indiana Voters Scammed Again
Magnequench Deal Was Approved by Bill Clinton
We recently posted our expose of Hillary Clinton's John McCain-inspired "Gas Tax Plan" which is really a boon for oil companies and dangerous to America as it takes necessary funds away from highway repairs and endangers national security. Now it seems that Hillary is at it again in her very creative interpretation of the Magnequench fiasco that resulted in 200 Indiana jobs being shipped to China.
While campaigning, she is trying to portray herself as more of a friend of working Americans, and to do so she has had to misrepresent and mislead FREQUENTLY. Trying to get an advantage on Obama in Indiana, she blamed George Bush for not stopping the Magnequench sale to Chinese interests. It seems she omitted some very important facts in misleading Indiana voters:
While campaigning, she is trying to portray herself as more of a friend of working Americans, and to do so she has had to misrepresent and mislead FREQUENTLY. Trying to get an advantage on Obama in Indiana, she blamed George Bush for not stopping the Magnequench sale to Chinese interests. It seems she omitted some very important facts in misleading Indiana voters:
Magnequench Deal Was Approved by Bill Clinton
A consortium of Chinese companies purchased Magnequench in 1995. Magnequench manufactures rare-earth magnets that are used by the U.S. military in precision-guided "smart bomb" munitions. According to the Department of Defense, 80% of the rare-earth magnets used in production of "smart bombs" came from the Valparaiso facility. The sale required the approval of the Committee on Foreign Investment, chaired by the secretary of the treasury, who at the time was appointed by President Clinton, not Bush.
Even after the U.S. International Trade Commission cited and fined the Chinese consortium with "bad faith" and "harm to to domestic industry," the sale was approved. Ugimag, the Valparaiso factory, was purchased in October 2000, before Bush was sworn into office.
In fact, Evan Bayh criticized President Clinton for his approval of the sale and issued a press release along with Congressman Peter Visclovsky asking President Bush to stop the sale in the interest of national security. Here is that Press Release.
A copy of Evan Bayh's Press Release criticizing President Clinton for his approval of the sale in contradiction to our national security will be available tomorrow, 5/4/08, and will be on this website ASAP.
Even after the U.S. International Trade Commission cited and fined the Chinese consortium with "bad faith" and "harm to to domestic industry," the sale was approved. Ugimag, the Valparaiso factory, was purchased in October 2000, before Bush was sworn into office.
In fact, Evan Bayh criticized President Clinton for his approval of the sale and issued a press release along with Congressman Peter Visclovsky asking President Bush to stop the sale in the interest of national security. Here is that Press Release.
A copy of Evan Bayh's Press Release criticizing President Clinton for his approval of the sale in contradiction to our national security will be available tomorrow, 5/4/08, and will be on this website ASAP.
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