Today's Outrage: The Foreign Invasion Is On

The weakness of the U.S. economy is opening up opportunities for foreign investors to snatch up some one-time American landmarks.

We've got Mexican billionaire Carlos Slim Helu stepping in to prop up the New York Times(NYT) with a $250 million investment that will eventually make him the second-biggest owner of the venerable publishing company after the Ochs-Sulzberger family. (Don't worry, the family still holds supervoting shares that keeps control safely nestled away from investors).

Then there's Italy's Fiat, a carmaker with its own troubled past, taking a 35% stake in Chrysler as part of a strategic alliance that may later be expanded.

Sadly, no domestic saviors are stepping forward.

Warren Buffett played his hand late last year with investments in Goldman Sachs (GS) and General Electric (GE). So he seems to be played out.

Maybe the rest of the big spenders in America are still trying to make sure they didn't invest with Bernard Madoff.

As things get worse, and there will surely be more pain before the recovery begins in earnest, there will be more opportunities for America's current and former crown jewels to fall into foreign hands.

That's not necessarily a bad thing. It's just another reminder of what sorry shape we're in.

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