US Steel has been courting a buy for months now, but the best bid was 7 billion from Cleveland Steel. Now less than half a year later, the Japanese are willing to spend twice that?
Seems suspicious, so the WSJ did some digging. Turns out government has changed the rules for foreign steel use in new contracts. Guess it pays to lobby the right people in the White House and legislative branches.
I wonder if Nancy Pelosi stocked up on US Steel stock months ago.
Thomas Sowell: There are no solutions, just trade-offs.
