During this big hoopla over the ports, let’s not forget about who’s paying for the US government

In all this current discussion whether it’s appropriate for a UAE-owned company to operate certain US ports, let’s not forget that according to the US Treasury Bulletin, “foreign and international” entities hold an estimated 26% of all US Treasury Securities (as of Sept. 2005). I bet some of those are in the hands of the UAE - they have tons of money …

The administration has faced criticism this week over its decision to let a subsidiary of UAE government-controlled maritime management firm Dubai Ports World run ports in New York and New Jersey; Philadelphia, Pennsylvania; Baltimore, Maryland; Miami, Florida; and New Orleans, Louisiana.

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Foreign-owned companies already operate many ports in the United States. In Los Angeles, California, companies from China, Denmark, Japan, Singapore and Taiwan lease operations.

[CNN.com - Bush, Congress clash over ports deal - Feb 22, 2006]

Posted in: Uncategorized | February 22, 2006 9:59 am