FOREIGN INVESTMENT, JOBS, AND NATIONAL SECURITY: THE CFIUS PROCESSeBook

 
FOREIGN INVESTMENT, JOBS, AND NATIONAL SECURITY: THE CFIUS PROCESS
 
 
 
 
 


So we have very serious questions

 


And it is the incompetence of this Administration that has put us in this position. You should have told them back then, "You know what? There are a lot of things you can buy. We'd love to have the investment. Why don't you stay away from the ports for a while? We've had a lot of controversy over port security. We're worried about things being smuggled in. There is all this tension."


So yes, I think it is unfortunate we are in this situation. I think anyone with any sense last fall should have foreseen this. And again, it is not purely partisan. Didn't you have a sense that the Republican majority leader and the Republican speaker might be upset about this? Well, one reason perhaps you didn't is that there was no conversation, no consultation. I think that maybe this Administration will learn that doing these things without any kind of consultation is a mistake.


So we have very serious questions. And the final thing I would say is this with regard to this procedure. The notion that the President of the United States and the people under him are now going to conduct an independent review of a decision which he says was absolutely correct fools nobody except those who are eager to be fooled, those who are whispering they will not consent are planning to consent.


And here's the question I would have. If, in fact, the 45-day review is now necessary, why didn't you do it in the first place? And if you didn't really think it was necessary in the first place and you still believe it, why should we put any credence in the fact that you're doing it now?


So Madam Chairwoman, I am happy that we are having this hearing, but I would be happier if it was a better hearing.


Chairwoman PRYCE. The gentleman yields back, I assume. I'd now like to introduce our witnesses for today's hearing, and we'll hear from them as soon as the introductions are complete.


We have with us today the Honorable Robert Kimmitt, who is the Deputy Secretary with the Department of the Treasury. Welcome. The Honorable Michael Jackson, Deputy Secretary with the Department of Homeland Security. Thank you for being here.


Joining them is the Honorable Eric Edelman, Under Secretary with the Department of Defense. Thank you.


And the Honorable David Welch, Assistant Secretary of Near Eastern Affairs with the Department of State.


Thank you, gentlemen, all for being here. Thank you for your consideration of this issue, your preparation for it.


We look forward to hearing your testimony today, and we will begin with the Honorable Robert Kimmitt. Thank you.





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