Capitalism - 1 : petro-Socialism - 0
Honestly, I'm a bit disappointed at the Democrats' performances in scuttling the purchase of several American ports by a state-owned firm out of the UAE. The homeland security concerns should have been icing on the cake. The cake should have been standing against purchase of any part of an American business (especially one relating to public infrastructure) by a state-owned firm--regardless of the country from which it hails or if it has a homeland-security angle. Simply put, American property shouldn't be sold to Socialist combines. Let's look at the White House's argument here.
MYTH: Because DP World is a state-owned firm, a foreign country will own the ports of six major U.S. cities.
FACT: The ports will remain under the ownership and control of state and local authorities, not DP World. As a port operator, not owner, DP World will manage the physical equipment and movement of containers on and off of ships, not the security related to the shipped containers, which is the responsibility of U.S. Customs and Border Protection. As a result of the transaction, DP World will own and operate terminals at some U.S. ports, which means they will be responsible for physically operating the cranes that move cargo. Ports are publicly owned facilities, typically by State or local authorities. Like all port operators, foreign or domestic-owned, DP World will have to comply with Coast Guard and Customs security regulations. In addition to meeting all these standards, DP World has committed to additional security measures requested by the Department of Homeland Security and signed a letter of assurances making commitments to meet and maintain stringent security standards for the port terminals that they will operate in the United States.
If the Democratic Party and its elected members in Congress enjoyed a reputation for defending America's (more or less) free-market economic interests against foreign corporations that can raise capital through government levies, we wouldn't have to grab at every piece of homeland security driftwood that happens upon us as we thrash to keep our heads above water. Americans should have wondered why the President won't provide tax money to their employers so that they can purchase business opportunities in other countries. The next thought should have been that they could count on the Democrats to keep petro-Socialism off our shores. If this had been a Dutch national firm, there'd have been nary a peep.





Yes...you make a great point here....a STATE-OWNED firm!!!??? That would be, now that I think about it, absolutely outrageous! Kudos for your comment tenaciousd!
March 16, 2006 1:03 AM | Reply | Permalink