PORTS DEAL TO CLOSE BY MONDAY!!! (Despite Review)

Ports deal to close by Monday: official



WASHINGTON (Reuters) - Dubai Ports World's $6.85 billion acquisition of Britain's P&O will close on Friday or Monday, despite an additional 45-day review by the U.S. government in response to security concerns, a U.S. Treasury Department official said on Thursday.


"My understanding is that the deal will not close today," Deputy Treasury Secretary Robert Kimmitt told a Senate panel. "Although they had announced March 2 as the closing date ... that deal will not now close until tomorrow or Monday."

Kimmitt made his statement in response to a question from lawmakers on the Senate Banking Committee.

http://news.yahoo.com/s/nm/20060302/ts_nm/security_ports_deal_dc

You know, as a ceremonial gesture?

After this closes, by Monday now, I thought I had heard that the only way to overturn it is by a court order. Congress won't be able to do a thing.

but having this done on paper is different than having the people on the docks agree with it and if they do go along well say good bye to their jobs...

It was already a done deal.

is it legal???

HUH???

I'm dumbfounded...WHY would Bill Clinton do this?

All the Globalists are!

Sheesh.

I think the deal the article is referring to is the purchase by DPW of Britain's P&O business. I think that deal can close without U.S. approval because it is between a UAE company and a British company. But the U.S. does play a role in that P&O's current authority to operate certain ports is subject to U.S. approval and as such the closing of the deal without U.S. approval is risky for DPW because they may lose a portion of what they thought they were getting under the deal.

without ANY oversight I think. Or at least I believe that is what Bush thinks. The GOPers in Congress have themselves a KING.

The economy minister of the United Arab Emirates, the country at the heart of the row, said that while political pressure to block the deal would not prevent the Gulf state from seeking further investments in the US, it would likely give other countries pause.

Sheikha Lubna al-Qassimi said other markets in Asia and Europe would now prove more attractive to wealthy Arabs and other investors.

"There is no hesitation, this will not deter the UAE from investing further. This is a business deal that somehow got politicised. But when you have deals that are prolonged by interference of a political nature, it may encourage many countries to go into investments in other places." She said India, China and some countries in Europe would be the likely beneficiaries.

The US is running a massive current account deficit and relies on inward investment to finance it. It has been able to count on petrodollars from countries like Saudi Arabia as a result of the booming world oil market. However, Middle Eastern investors are thought to be becoming jittery.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/03/02/cnport02.xml&menuId=242&sSheet=/money/2006/03/02/ixcitytop.html

when asked by Scott how do we stop this...