Monday, March 13, 2006

Port Deal Withdrawn

I must say, i'm a little surprised. But then again it is an election year and I always thought this was a possibility. But it was not solely an act of Congress that gets the credit for blocking the deal. The House of Representatives vote was only a committee vote- not vote by the full House. It was the act of the company- Dubai Ports World- that ultimately caused the deal to collapse.

If the company had not withdrawn, I am still convinced that the U.S. Congress would have eventually allowed the deal to pass. All indications showed one Congress member after another backing off from the idea of blocking the deal. This gives me no new confidence about the American political system. In fact, this situation highlights even more the need for more national political parties and the need to allow the public to decide important issues like these through a national referendum.

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