More on the perfect storm created by news that Dubai Ports World has been approved by CFIUS (Committee for Foreign Investment in U.S.) to take control over some operations in 6 U.S. ports. John Snow is now the chairman at CFIUS. Before Snow became Secretary of the Treasury under Bush, he was on the CSX railroad corportation for about 20 years. In 2004, Snow was instrumental in selling CSX's own port to Dubai Ports World. Have we come full circle, or what? Or as Jack Cafferty said again yesterday,"Do the math!"
This port thing is a really big deal because port security has been underfunded and slipshod under this administration Only a small percentage of containers coming in to the U.S. are now examined (approx. 4-7 %) Furthermore, about 30 % of our port terminals are now controlled by foreign companies, not including the possible entrance by Dubai Ports World.
During the next few days, the AFL-CIO blog news (a link is provided to this on Daily Kos) will print letters from longshoresmen on current security issues at some of these ports. I wonder what else we will discover!