NY Daily News: Did John Snow smooth the port deal for his former company?

[Stephanie]

It gets curiouser.

Israeli firm feels heat over much smaller pact

BY MICHAEL McAULIFF
DAILY NEWS WASHINGTON BUREAU

WASHINGTON - While a state-owned Arab company sailed past regulators with its $6.8 billion deal to run six crucial U.S. ports, a private Israeli firm is getting the third degree over a much smaller venture, the Daily News has learned.

Dubai Ports World got approval from the Committee on Foreign Investment to buy the British firm that now runs the ports after an investigation that lasted less than 25 days.

That process is required by law whenever a foreign firm wants to buy a U.S. company that might affect national security. If that panel, with 12 agencies led by the Treasury Department, decides there is an issue that needs to be looked at, it goes on to a 45-day review.

That did not happen with DP World. It did with Check Point, on Feb. 13 - just days after DP World was cleared.

***

Treasury Secretary John Snow headed the rail firm CSX until early 2003. In late 2004, the company sold its foreign port operations to DP World for $1.15 billion.

Fratto said any speculation that Snow smoothed the deal "is silly." He added that lawyers at Treasury looked at the issue and decided there would be no conflict of interest for Snow.

http://www.nydailynews.com/news/wn_report/story/393579p-333744c.html

[Stephanie]

1. is this old news?

i can't keep up!

[leftyladyfrommo]

2. Lst nite the Deputy Secretary on Lehrer stated that they

Had extended their investigation beyond the 30 day period.

So was he just spinning? Or was he just lying to make people feel better?

This is such a crock.