Here is an excerpt from a Q&A article in the Orange County Register:
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Q: What does the administration say about this?
A:President Bush said he is convinced there is no national security problem with this transaction and he stands behind it. He also said Tuesday that he will veto any measure that scuttled the Dubai deal.
Q: How did he determine that there are no security red flags?
A:Under U.S. law, whenever a foreign-owned business invests in U.S. industry, there is a committee that looks into the possible security concerns. The Committee on Foreign Investment in the United States is headed by Treasury Secretary John Snow and includes representatives from a half-dozen federal agencies, including the departments of State, Homeland Security and Defense. This panel, which deliberates in secret, decided there were no security concerns. It began its investigation last November and ended in mid-January.
Q: So why are we just hearing about this now?
A:Because last week was when the sale of the British firm to the Dubai company was finalized.
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We are allowed to only excerpt from the Register. The entire article is pretty good and you need to read it all. Unfortunately, it requires registration to read it.
And they were supposed to perform both a 30-day and 45-day review within a timeframe of 90 days. Under law. They did not do the 45 day review. But they are certain there are no problems here?
This just doesn't look right at all.