The truth is that this is about a BRITISH owned company selling itself to a DUTCH/UAE owned company. We can change contracts and the companies that will run the 6 American ports in question. We may very well end up doing this.
How is the Bush administration supposed to stop two NON-AMERICAN owned companies from consumating this business transaction (in which America holds no legal authority)?
LLS
Thank you! you hit the nail on the head
The President actually can stop the UAE from doing this.
The intent of Exon-Florio is not to discourage FDI generally, but to provide a mechanism to review and, if the President finds necessary, to restrict FDI that threatens the national security.
Committee on Foreign Investments in the United States (CFIUS)
"How is the Bush administration supposed to stop two NON-AMERICAN owned companies from consumating this business transaction (in which America holds no legal authority)?
Stroke of the pen law of the land for idiots. How many times did Clinton exercise this right?
So in your view, even though they're our ports, we have no say when it comes to who runs them.
Better hope bin Laden doesn't buy a controlling interest in DPW, then.
This is from another thread. It explains how we do have the ability to block these types of sales. The sale couldn't have gone through without our approval.
White House Defends Port Sale to Arab Co. - 02/16/2006
The sale to state-owned Dubai Ports World was "rigorously reviewed" by a U.S. committee that considers security threats when foreign companies seek to buy or invest in American industry, National Security Council spokesman Frederick Jones said.
The Committee on Foreign Investment in the United States, run by the Treasury Department, reviewed an assessment from U.S. intelligence agencies. The committee's 12 members agreed unanimously the sale did not present any problems, the department said.
Four senators and three House members asked the administration Thursday to reconsider its approval. The lawmakers contended the UAE is not consistent in its support of U.S. terrorism-fighting efforts.
The Homeland Security Department said it was legally impossible under the committee's rules to reconsider its approval without evidence DP World gave false information or withheld vital details from U.S. officials. The 30-day window for the committee to voice objections has ended.
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