By Rand Paul
Obama acts as though we no longer have a Constitution
Independent voices from the TWT Communities
A judge approved a deal Tuesday for a Chinese company to buy the assets of a bankrupt U.S. battery maker that won a quarter-billion-dollar grant from the federal government just three years ago.
Democratic and Republican politicians alike hailed the news in 2009 that U.S. battery maker A123 Systems had won a quarter-billion-dollar federal grant, but just three years later, the company finds itself bankrupt and the target of a buyout by a Chinese competitor.
The recent bankruptcy of battery maker A123 Systems after it won a nearly quarter-billion-dollar federal grant threatens the business prospects of another well-known government-backed company: luxury car manufacturer Fisker Automotive.