When it comes to the UAE port deal, the administration has a relatively compelling defense. A review of the deal, the Bush gang says, was reviewed and cleared by the Committee on Foreign Investment in the United States, a body made up of officials from the Defense, State, Commerce and Transportation Departments, along with the National Security Council, which reviews foreign investments in the country that could affect national security. All said this deal was fine.
One response to this is, as I noted earlier, that it requires some faith in the administration’s competence and forthrightness, which isn’t usually a good idea. But then there’s another concern. (via TP)
However, a 1993 amendment to the law stipulates that such an investigation is mandatory when the acquiring company is controlled by or acting on behalf of a foreign government. Administration officials said they conducted additional inquires because of the ties to the United Arab Emirates, but they could not say why a 45-day investigation did not occur.
If the Committee on Foreign Investment in the United States saw no need to take its review to the next level, that’s one thing. But if the law requires a 45-day investigation under these conditions, and the administration decided not to do that, it’s not unreasonable to expect an explanation.
For that matter, it also makes administration opposition to a proposal from Sens. Clinton and Schumer to complete that 45-day investigation a pretty tough sell.