Wednesday, February 22, 2006

Festus Squirms

I dunno what to think on this, but it's fun to watch Festus squirm and threaten a veto so passionately over an issue that not even he knew about last week.

On the negative side:
. . . the White House shouldn't be surprised by the fear-based reaction the port deal has received — the Bush gang has been tilling this soil for a while.

Bush has long been successful in persuading Americans they were under constant threat and he was the best man to protect them…. Fears have not subsided, pollster John Zogby said, although the United States has not suffered a major attack since September 11, 2001. Bush two weeks ago revealed a plot foiled in 2002 to fly an airplane into the West Coast's tallest building and said the terrorist threat had not abated.

That's what makes this story so ironic. I guess you can't have it both ways," Zogby said.
However, a 1993 amendment to the law stipulates that such an investigation is mandatory when the acquiring company is controlled by or acting on behalf of a foreign government. Administration officials said they conducted additional inquires because of the ties to the United Arab Emirates, but they could not say why a 45-day investigation did not occur.

On the other hand:
As the Financial Times reports, state-owned companies already operate terminals in the U.S., including China Shipping at the Port of Los Angeles and APL (owned by Singapore's state-owned NOL) in Oakland. "The US container port industry would be unworkable without companies controlled by foreign governments," says a British analyst. Furthermore, DPW and Singapore's state-owned PSA are the third and fourth largest port operators in the world, and China's Hutchison Ports already refuses to invest in the U.S. If all of these firms are shut out of the country, we lose access to some of the best and most efficient port operators in the world.

This has the same feel of the Cheney misfire last week. An event of little significance creates a political firestorm thanks to the cavalier arrogance and ineptness of the Festus White House. Festus brings it all on himself thanks to a 6 year record of stupid arrogant blundering.