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Is taxpayer money about to be driven to China.
Well it may happen at the battle that electric carmaker this curious sold to a Chinese company.
That would make it the second taxpayer backed green energy companies sold to China in recent months with more on this Republican senator Chuck Grassley of violent.
Senator what gives here what -- mean why are we allowing this to happen.
-- very good question and I think are almost -- the extent to what job.
The Department of Energy is not accountable for what it does and it's not holding word dishes out taxpayers' money.
For instance in the a 123 corporation -- content 127 million dollars in the case surfaced -- It's I think 200 million dollar -- -- and yeah and China.
Numbers for just a second fiscal received a 192 million and Department of Energy loans they want to three received 250.
Million in US taxpayer money.
Notable for this this is my taxpayer dollars going to China it seems crazy to me.
Yes well we appropriate money you're expected to be span according to law.
And and if there's anything congress can do about it it's kinda like locking the barn door after the horses -- Through our oversight.
Senator's tune I differences in the case of -- going way back did you who's been trying to get information.
From -- From the Department of Energy on this whole issue we we don't really get answers to tell you the truth and we have a constitutional responsibility to -- in.
And this seems to me the department and -- -- has constitutional responsibility to answer our questions but they don't know what.
Well I and that's been an ongoing problem I think it talk to me I know line -- -- because it's my taxpayer dollars is there any.
Any other risk or danger of a company like this carry a 123 being sold -- the Chinese.
All live at least in the case of a 123.
There was a possibility.
Now maybe it's been taking care of but the possibility that there was national security issues involved we're told that's taking care of by by that part of the company not being sold to China but you get back to this business of the Chinese.
Playing us for suckers in the sense that they're able to not only take advantage of the taxpayer dollars that are out there.
But the research and development that goes on right we're we're kind of -- Biden.
The in -- intellectual basis for them to become more competitive.
Well it's it's astonishing to -- I think it goes the real issue here.
It may be it's not being sold -- the Chinese that really she where is why is the government involved in this program in the first place.
-- the government picking winners and losers -- the government deciding.
What technologies -- the right wants to invest in.
You know well you know.
I'm not to perfect one asset because -- sponsors some tax.
Credit bills for other things like wind energy or or biofuels.
But -- if you get right down to what those are tax incentives where you've got to have the private sector put up money to take advantage of it.
As opposed to these are grants.
-- Door of the department treasury or in this case energy -- amount it just like shoveling money out an airplane.
That's never get.
I guess he quickly about Jack -- you've been opposing her nomination as Treasury Secretary we talked on this show about.
How he doesn't have frankly a ton of background not with Wall Street executives.
As his predecessor dead why are you so opposed.
Well for the reason you just gave number one that's the most important one.
Then one lesser reason and then I'll get to more important one.
Kind of the hypocrisy of this administration.
Complain about Romney haven't money -- offshore.
Legal is that is and then appointing a person like Jeff Lou that I had money and.
Us name are usually -- this elegant thing I thought is that just shocks me the Mike core.
-- senator Grassley thanks for coming on tonight we appreciate your time.
And and thanks for.
Illuminating us in particular about green energy an absolute pleasure having you here thank you so much thank you very much.
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