http://www.weeklystandard.com/blogs/whoo...96223.html



So how many in a row is this? Media guts a GOP candidate, only later for the "lie" to turn out true.

Up next "They're trying to take your guns."

From what I understand the production of Jeeps in China will only be sold in China. Still, technically, it means Romney was right. His initial ad was a bit misleading, seeming to imply that all Jeeps were to be made in China, but not an outright lie as it was made out to be. I don't know the particulars regarding why Jeeps couldn't be made here and shipped overseas, but would love to hear an explanation from Jeep.

There was an article somewhere talking about a couple other things Romney was right about that the media blasted him as a liar when he said them.

If you want to talk about China, just think how Caterpillar feels...

Alleged Fraud At Caterpillar's Chinese Acquisition Puts Spotlight On U.S. Principals

Quote:Investors in Caterpillar got a nasty surprise last Friday when the company revealed that it had uncovered massive fraud at a Chinese mining equipment firm that it bought last year. Caterpillar said it would write down $580 million in the fourth quarter of 2012, wiping out around half of its expected income. Its new Chinese subsidiary allegedly overstated its profit for years by claiming non-existent sales on inventory that couldn’t be traced. This is an embarrassing setback for Caterpillar, which has expanded aggressively in China and competes with domestic heavy-machinery manufacturers like Zoomlion and Sany. In a statement, Caterpillar said it had found “deliberate, multi-year, coordinated accounting misconduct” at Zhengzhou Siwei Mechanical and Electrical Engineering (‘Siwei’), the firm that it bought last year for $653 million. It said senior management at Siwei had been fired and replaced with a new team that was under direct control of Caterpillar’s China division. “The actions carried out by these individuals are offensive and completely unacceptable. This conduct does not represent, in any way, shape or form, the way Caterpillar does business,” Chairman and CEO Doug Oberhelman said in the statement.

Having to write off over half a billion due to fundamental stupidity is pretty embarrassing...

"Fundamental stupidity?"

You're being generous. It was outright fraud, and people need to go to jail.

In China, being caught committing fraud at that level might mean more than jail.

(Notice I said being caught.)

In this case, the man in charge of overseeing Caterpillar's review of the sale got a job with the Chinese government...