Senate bill seeks oversight of foreign takeovers

[Eugene]

Senate bill seeks oversight of foreign takeovers
Fri Mar 24, 2006 7:48 PM ET

By Susan Cornwell

WASHINGTON (Reuters) - The head of the Senate Banking Committee proposed on Friday
to give Congress more oversight of foreign acquisitions of U.S. companies, but stopped
short of saying lawmakers should have the power to veto deals.

The executive branch of the U.S. government currently dominates the review approval process,
a system that backfired badly on the Bush administration when Republican lawmakers objected
to an approved contract under which an Arab company was to manage operations at U.S. seaports.

After an uproar in Congress over the possible national security implications of the Dubai
Ports World deal, the company this month said it would sell the U.S. assets it had just acquired
to a U.S. buyer.

Richard Shelby, an Alabama Republican who heads the Senate's banking panel, set out draft
legislation on Friday that would require administration officials to report to Congress that
they are reviewing such proposed deals.

<snip>

Full article: http://today.reuters.com/news/newsArticle.aspx?type=politicsNews&storyID=2006-03-25T004823Z_01_WBT005041_RTRUKOC_0_US-SECURITY-INVESTMENT.xml

[stillcool]

1. a few decades too late......

aren't they?

[BeHereNow]

4. It's a fucking JOKE at this point.

See my post below for my take on what it REALLY means.
BHN
:banghead:
They sicken me beyond words at this point.
EVERY fucking one of them.
Dems? Repubs?
LOL
They exist every bit as much as leprauchans and wood sprites.
They are all corporate owned PIGS and should be fired
and imprisoned for their collective betrayal of every
man, woman and child in this country.

[BeHereNow]

2. Translation: We want a cut of any potential profits.

"Oversight" when applied to this bunch only means
that they too, want a piece of the pie.
Because by now, the thinking person has figured out that
the "oversight" is not meant to be in the interest of the
"we, the people."
What a fucking farce it has all become.
BHN

[Demeter]

3. Offering to Be Insulted by Bribes? n/t

[BeHereNow]

5. Offering to rubber stamp any and every atrocity that comes along

just as long as they too, profit.
BHN

[bemildred]

6. Bush doesn't feel he has to go along with this. nt

[annabanana]

7. Senate? What Senate?

There's no more Senate.
It was a good idea, but it seems to require more intestinal fortitude than this crowd can muster.
:shrug:

[BeHereNow]

8. Oh, but what a "show" of force, eh?

Oh boy, guess the senate scared them good with this
one!
ROLF!
But hey, the show is for "we, the people."
They must continue the charade that they represent us
so that they can keep making millions of dollars.
Okay!
Thanks for the "show" senators!
Now go back to counting your gazillions
while the rest of us figure out how to eat.
BHN