Posted on 09/21/2007 3:50:01 AM PDT by Man50D
In a complex set of transactions, Dubai is moving to acquire 19.9 percent of the Nasdaq in New York, placing the Arab government in an ownership position of the key U.S. stock exchange and raising concerns in Congress.
As a result of the transaction, Dubai also will acquire 28 percent of the London Stock Exchange, one of the oldest and largest in the world.
The transaction is being made through Borse Dubai, a holding company 100-percent owned by the government of the Emirate of Dubai and controlled by Mohammed bin Rashid al-Maktoum, the head of the Dubai ruling family.
The announcement set off a firestorm of criticism in Washington, prompting President Bush to comment today in a news conference, "We're going to take a good look at it, as to whether or not it has any national security implications involved in the transaction. I'm comfortable with the process to go forward."
(Excerpt) Read more at worldnetdaily.com ...
Actually, the quote doesn’t refer to the sale, it refers to the process of seeing if there are any national security implications. I’m comfortable with that, too.
The only scandal involving the Dubai ports deal was that Chuckie Schumer was allowed to dupe conservatives out an intelligence operation.
That was the real scandal.
LLS
This further distances me from buying any stock for a portfolio if my money is going to be controlled by Islamofascists, I hate having cold hands around my gonads.
Definitely not one of my favorites either... *Shudder*
If they want to encourage the citizenry of Dubai to invest in the NASDAQ or other American enterprise it might be one thing but every time I hear about one government or another buying up private business interests I get uncomfortable and angry (kind of like when I’m constipated).
I don’t want to hear about Texas or the City of Philadelphia or Karnes County owning businesses. So I sure as hell don’t want to hear about some tin horn foreign dictatorship buying AMERICAN businesses. And no matter how benevolent some make these monarchy/emirates out to be, they are still dictatorships by every definition of the word.
Dubai also bought 7% of the Carlyle Group yesterday. They have 1.5 trillion mad money
Well, if Texas toll roads are good enough to send to Dubai, why not the NASDAQ?
My point about businesses in particular is that except in EXTREMELY limited circumstances we should not have government owned businesses (even if that is our own government but especially if it is a foreign government and then even worse if it is not even a legitimately elected government). It is very detrimental to the whole free market capitalist society which has propelled this country so rapidly to the heights of prosperity which God has allowed. (This beyond any moral repulsion is my main opposition to lotteries as well.)
BTW I suspect The Walt Disney Co. is going to consider a similar deal if it should happen when the cost of fuel pushes airfare skyhigh and tourism at its theme parks take an even worse nosedive than after 9/11. Or worse yet China buying in to push its mega-crap plush products.
Gee suddenly my blood is boiling.
Well stated.
More info on that please.
Brit Hume covered it weeks ago... I am certain you can find it through Google... it was a CIA plan that schumer and rectionary Republicans killed!
LLS
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