Schumer Now Likes Arab Emirate Business
Nov 27, 2007 Political
A few years back Dubai wanted to purchase several ports in the United States. Democrats, trying to make people believe they were tough on security, raised a stink about the security implications of such a move. The deal was eventually halted and the Democrats got their way though there was no real reason for their opposition. Interestingly, none of their toadies made comments about hating people with brown skin. It was just accepted that a partner in the war on terror would undermine our security and cause us harm. Chuck Schumer was one of the loudest (and most annoying) voices to express opposition.
My how the times have changed. With the sub-prime housing market collapsing a lot of businesses are going south very quickly. Some have filed for bankruptcy protection and others have seen their assets cut in half. Companies have been forced to suffer the consequences of their poor decisions (it is called SUB prime for a reason) and they did not like it. Citigroup, the largest US bank, was one of the companies suffering because of the sub-prime mess. Not any longer though as they were bailed out by, get this, Abu Dhabi, of the Arab emirate.
Abu Dhabi will purchase 7.5 billion dollars worth of Citigroup and will see a guaranteed return on investment of 11%. With its purchase of 4.9% of the company, Abu Dhabi will become Citigroup’s largest shareholder. And what did the mouth Schumer have to say about all this Arab money?
…the Citi transaction will bolster the bank’s competitiveness and “help preserve New York’s status as the world’s financial center.” Yahoo News
Amazingly, mouth almighty Chuck Schumer, who saw problems with having Dubai owning six ports in the US, seems unconcerned that Abu Dhabi will be the largest shareholder in America’s largest bank. Where is that level of concern for national security?
Now I don’t see a problem with the deal but then again I had no problem with the Dubai port deal. I might be wrong about both but at least I have been consistent.
Schumer, on the other hand, has shown inconsistent positions on similar issues.
Others with similar items:
Perri Nelson’s Website, Blog @ MoreWhat.com, Rosemary’s Thoughts, Right Truth, Adam’s Blog, Leaning Straight Up, The Bullwinkle Blog, The Amboy Times, Chuck Adkins, The Pet Haven, Pursuing Holiness, Allie is Wired, DragonLady’s World, The World According to Carl, Blue Star Chronicles, Pirate’s Cove, The Pink Flamingo, Republican National Convention Blog, CommonSenseAmerica, Dumb Ox Daily News, High Desert Wanderer, and Right Voices, thanks to Linkfest Haven Deluxe.
Tags: abu dhabi, arab emirate, bankruptcy protection, brown skin, chuck schumer, citigroup, Democrats, dubai, largest bank, shareholder, us bank