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Sale of energy firm to Chinese a national security threat?

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    GOP lawmakers warn against bid to buy failed U.S. battery company

  • Duration 4:03
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Stern warning from Republican lawmakers that the sale of a bankrupt solar battery company to China would mean bad news for our.

National security a judge could decide by today whether the sale of -- 123 systems will go through the Detroit.

Car battery maker took.

A 113.

Two million dollars from a 250 million dollar stimulus grant.

Championed by President Obama.

-- among the lawmakers who oppose the new deal.

Is Republican senator Charles Grassley of Iowa ranking member of the Senate Judiciary Committee.

Senator always a pleasure to speak with you as I understand the deal all of the Chinese company would not by.

A -- when he threes government.

Business including military contracts.

So how would this failed to this Chinese -- immediate threat to national security.

Well under those circumstances if they're true that would take that factor out of our concern about the sale.

That's going to be up -- -- an organization and treasury called -- press.

To make any.

-- yes I guess it's called.

To make sure that that that doesn't happen because.

This.

It's still a concern of -- And we want it reviewed and we want to be assured that that's not going to be the case.

But I think you start back at square 11 of all we borrow about 10% of all our borrowing.

Comes from the Chinese and -- -- and 33 million dollars goes to 8123.

And it goes bankrupt right away we lose a hundred point three million dollars.

The Chinese benefit from the Chinese have a very in the Chinese companies have very close relationships.

Where -- government you never know really how close they are in this particular case they say they are very close but.

You can't be sure of anything along that line but the most important thing here is the secretary of energy said.

Before this us sale ever took place that they were going to see that was sold to one American company bright soul so our letter.

He has almost two points that you made number one is.

Why did they tell us it was going to be sold to an American company and Watson and secondly is there any sensitive security.

Send it.

Information.

Or discoveries or anything like that going to go to the Chinese.

And -- senator.

How -- 132.

Million dollars of taxpayer money thrown into a black hole and what must be infuriating to you it is.

Treasury cut a check on the day over the day before they filed for bankruptcy for a million box.

Now well here's the other thing is you have the president on when he -- -- few years ago you had a repeat of that.

And it just shows that the president wasn't very -- point when he says there the first beneficiaries.

Of the stimulus package and remember -- -- -- -- doing -- it was supposed to do.

And -- 133 million dollars go out and and the president wrong had been produced batteries.

Is this just.

Another so -- 132 million of harder taxpayer money I've got essentially getting thrown away to a company that goes bankrupt and then -- The remaining assets which were nourished by taxpayer funds.

Given to the Chinese.

Yes in the case of -- under I don't know where that's gone -- that's gone to some other company but there was a very big.

Finding a financial contributor.

-- the day democratic.

Party and president -- Obama in the 2080 election you know somebody from Oklahoma that ended up being also a big -- in Solyndra so you've got those sort of dynamics.

To worry about as well and to be concerned about would be irritated about him.

And this you know these could have been loans but they were grants in the great wisdom.

Of the backers of this stimulus senator Charles Grassley thanks for being with us.

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