It was known years before this loan that the Chinese were undercutting the business. They were manufacturing at $6.00 a unit and selling for $3.00, and the $6.00 cost was reduced from the even higher cost because of the new equipment. I don’t think that even Krugman, who is not the sharpest Nobel knife in the drawer, could pose a economic theory that would make this scenario plausible.
Either way for 535 Million he is a sucker.
He now has his name tarnished for life cheating taxpayers out of that money.
If the GOP had any balls they would run ads who is helping Billionaires like Soros, Buffett and Kaiser.