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Tuesday, March 07, 2006

Questions linger about port deal

We shouldn't be surprised, but the bipartisan concern about the Dubai port transaction is turning partisan. Instead of looking at the big picture this deal has exposed, we're starting to hear complaints that this is a tempest in a teapot, don't blame the Bush administration because foreign management of U.S. ports goes back to President Clinton, security is not compromised by these arrangements anyway, etc.

In the reviews of this deal, let's hope the operations of the committee that approved it aren't overlooked. How can a committee with representatives from various Cabinet departments not report its recommendations to the president, if not Congress? It's hard to believe nobody in these deliberations didn't ask, "How will this play on Main Street?''

It's also hard to believe there are no American companies willing, able or good enough to manage our ports. Rep. Peter King of New York is suggesting DP World subcontract its work to a U.S. firm, so he must think it can remain in U.S. hands.

Serious questions? Or just a tempest in a teapot?


Blogger Lee Hoffman said...

While all our duly elected politicians are congratulating themselves for nixing the port deal, someone better wake up and check out who is buyng our treasury bills, thereby propping up our excessive deficit spending. Truth is, should the petro dollar crowd bow out of our bond market we will see soaring interest rates which will make the early eighties look tame by comparison. Now that DP has nixed the port deal in its entirety witness the middle east countries reanalyzing their investment schemes. This spells trouble for the US bond market big time. Serious compromises were available but our elected officials were too busy trying to get in front of a camera and decry foreign ownership of port operators, notwithstanding that most of them are operated now by foreign companies.

2:56 PM, March 10, 2006  

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