Clinton Critcizes Plant Closure that Her Husband Approved

Here's another example of the Clinton's willingness to do anything to get elected.

From David Sirota...

Clinton is airing this advertisement in Indiana, bemoaning the closure of a defense contractor Magnequench's manufacturing plant in Valparaiso (she is also echoing this line in her stump speeches). Looking at the camera, she tells us she's upset that the 200 jobs that were sent to China, and that "now America's defense relies on Chinese spare parts." And then comes the kicker: She tells viewers that "George Bush could have stopped it, but he didn't."

Clinton is certainly right that it is a tragedy that 200 American jobs were killed in a corporate deal that also exported sensitive military technology to China. But she forgets to mention that it wasn't George Bush who was in the key position to stop it - it was Bill Clinton.

Back in 1995, a Chinese consortium, which included two Chinese state-owned companies, made a bid to take over Magnequench. Because the company makes key parts for smart bombs, the takeover had to be approved by the Clinton administration's Committee on Foreign Investments in the United States. Despite the national security and economic problems with selling off such critical manufacturing capacity to the Chinese - and despite the knowledge that such a deal would likely end in a domestic mass layoff - the Clinton administration approved the deal. This same deal - not surprisingly - paved the way for those 200 Indiana jobs and that sensitive military technology to be shipped to China.

The Clinton administration's move was not surprising. This was an administration whose NAFTA and China PNTR record more than proved it was intent on helping Big Money interests face as little resistance to international financial transactions as possible - consequences be damned. But the move was very controversial, raising the ire of key Hillary Clinton surrogate Sen. Evan Bayh (D-IN). As the Los Angeles Times reported in 2005, "Bayh was particularly disturbed by the committee's decision in 1995 to approve a Chinese consortium's takeover of Magnequench Inc." In 2006, Bayh specifically slammed the Clinton administration's approval of the deal to the South Bend Tribune, saying "It's not smart to put ourselves in the position of relying on the Chinese for a critical component of a vital weapon system, and yet that is what the CFIUS process has allowed."

Unfortunately, as he has campaigned around Indiana with Hillary Clinton listening to her decry the Magenquench fiasco, Bayh has suddenly gone silent on the matter.