Thursday, December 30, 2010
Wall Street Bailout and Selling Weapons to Taiwan
A few hours after the House of Representatives passed the $700 billion bailout plan on October 3, 2008, the Pentagon announced weapons sales to Taiwan. The $6.5 billion weapon sales include 30 AH-64D Apache Longbow attack helicopters, 330 Patriot missiles, 32 Harpoon submarine-launched missiles, and others. The Pentagon said that arms sales were consistent with the Taiwan Relations Act, which obliges Washington to help Taipei defend itself. Surely, the mainland China made strong objections over the arm sales. However, the question is how come Washington did not make any announcement regarding the weapon sale to Taiwan before the $700 billion bailout rescue plan. Remember, during the chaotic debate time during the Wall Street bailout plan, George W. Bush himself made a phone call to the Chinese president Hu Jintao expressing the stability of the American financial system since China has the number one foreign reserves in the world with trillions dollars of the U.S. bonds. Now, the arm sales to Taiwan by George W. Bush, has dashed out the hope of the Chinese providing financial help to Wall Street.