When I mentioned the Fiat-Chrysler alliance the other day, and expressed a little surprise that a bailout of a "foreign" company would go through without protests by some members of Congress, this is the kind of thing I had in mind:
Chrysler LLC should be required to return billions of dollars in government loans if Italian carmaker Fiat takes a majority stake in the company, a New Jersey senator said Thursday.
Sen. Bob Menendez, D-N.J., urged President Barack Obama to prevent the auto industry bailout from being used to help foreign automakers. The Bush administration provided Chrysler with $4 billion in federal loans earlier this month to help the company reorganize and the Auburn Hills, Mich.-based automaker is seeking another $3 billion.
...
"I am sure you would agree that the responsible action is to ensure that American taxpayers are not financing foreign automakers," Menendez wrote.
It will be interesting to see how this develops.
