Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Port Deal's Political Fallout Not Over

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU
 
cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-10-06 10:25 PM
Original message
Port Deal's Political Fallout Not Over
House GOP Drafting Bill to Require Hill Oversight of Foreign Acquisitions
House Republican leaders will unveil legislation as soon as next week demanding a congressional role in reviewing the acquisition of U.S. businesses by foreign buyers, suggesting that the controversy over a now-abandoned Dubai port deal will continue to roil congressional relations with the Bush administration.

House Majority Whip Roy Blunt is drafting a bill to require congressional oversight as the administration reviews such foreign acquisitions, a role Congress has not played since the Committee on Foreign Investments in the United States (CFIUS) was created three decades ago. A day after United Arab Emirates-based Dubai Ports World abandoned its bid to control terminal operations at six major U.S. seaports, lawmakers and President Bush made it clear that the issue was not going away. In remarks to newspaper editors, Bush said he is "concerned about a broader message this issue could send to our friends and allies around the world, particularly in the Middle East."


(snip)
U.S. Trade Representative Rob Portman announced that trade talks between the United States and the UAE, set to begin Monday, will be postponed. Spokeswoman Neena Moorjani said both sides need more time to prepare.
Flush from what they see as a victory, members of Congress appear determined to insert themselves into matters of national security that they had previously left exclusively to the president. But their aggressive response has left administration officials -- and even some colleagues -- concerned that the longer the controversy drags out, the more likely it will alienate foreign allies, dampen investment in the United States and even slow the economy.


(snip)
Officials from both parties warned that if the statement's intent proves to be less than full divestiture, Congress will move swiftly to kill the deal. "If nothing else, the company will ignite a thermonuclear explosion for itself and the emirate if it falls short of a sale," warned one Republican Senate aide.

http://www.washingtonpost.com/wp-dyn/content/article/20...
Printer Friendly | Permalink |  | Top
alfredo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-10-06 10:34 PM
Response to Original message
1. Now congress can shake down foreign companies just like
they do American companies. No money for me, no vote for your acquisition.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Aug 28th 2014, 10:33 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC