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Carlyle agreed on Thursday to sell a 7.5 per cent stake in itself to an arm of Abu Dhabi’s government – the latest US private equity group to bring in a sovereign wealth fund as a big investor.
In a complex set of transactions, Dubai is moving to acquire 19.9 percent of the Nasdaq in New York, placing the Arab government in an ownership position of the key U.S. stock exchange and raising concerns in Congress.
There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again.
If capitalism have a heart, USA will be like China and Cuba.
Call it back scratching and BTW - just how is this a Bush Jr. issue..?? He has no day to day control or say over these deals - it's a private company dude and not a national asset.
The announcement set off a firestorm of criticism in Washington, prompting President Bush to comment today in a news conference, "We're going to take a good look at it, as to whether or not it has any national security implications involved in the transaction. I'm comfortable with the process to go forward."
On July 26, Bush signed into law the Foreign Investment and National Security Act of 2007, a law passed after last year's controversy over the effort by Dubai Ports World to acquire London-based Peninsular & Oriental Steam Navigation, an international ports operating firm that would have given Dubai control of operations in up to 22 U.S. ports.