Three Cheers for Common Sense

Any port in the terrorist storm Cal Thomas [Townhall.com]

The Department of Homeland Security says it is legally impossible under CFIUS rules to reconsider approval of the sale without evidence the Dubai company gave false information or withheld vital details from U.S. officials. Congress should change that law.

Last year, Congress overwhelmingly recommended against the Bush administration granting permission to a Chinese company to purchase the U.S. oil services company UNOCAL. Six years ago, when a Chinese company took control of the Panama Canal from the United States, retired U.S. Admiral and former Chairman of the Joint Chiefs of Staff Thomas H. Moorer warned of a "nuclear Pearl Harbor."

Congress must stop this sale of American ports to foreign interests and, in an era of terrorism, prevent any more potential terrorist targets from falling into the hands of those who wish to destroy us.

CFIUS, the acronym for Committee on Foreign Investment in the United States is, according to the Treasury Department, "an inter-agency committee chaired by the Secretary of Treasury. CFIUS seeks to serve U.S. investment policy through thorough reviews that protect national security while maintaining the credibility of our open investment policy and preserving the confidence of foreign investors here and of U.S. investors abroad that they will not be subject to retaliatory discrimination." According to Wikipedia, "...it is important to note that the vast majority of transactions submitted to CFIUS (including the preceding example) are approved without difficulty."

Gorgeous. Ham for lunch, anyone?

Tags:
CFIUS
UAE
Bush
global economy
ports