GOP Sens. Rip US Over $1M Given To A123 During Bankruptcy

Law360, Wilmington (November 16, 2012, 5:15 PM EST) -- Two Republican lawmakers blasted the Obama administration on Friday for handing A123 Systems Inc. nearly $1 million from a federal grant on the very day the electric car battery maker filed for bankruptcy.

The continued government funding of A123 even as it toppled into bankruptcy while being chased by a foreign suitor, Chinese auto parts giant Wanxiang Group Corp., “paints a disturbing picture,” U.S. Sens. John Thune, R-S.D., and Chuck Grassley, R-Iowa, said in a statement.

In a letter on Wednesday responding to an inquiry from...
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