By Rachel Ehrenfeld & Alyssa A. Lappen
With the U.S. economy "obviously going through a tough time," America should welcome capital investments even from foreign sovereign wealth funds, President George W. Bush asserted on March 14, 2008 at New York's Economic Club.
"It's our money to begin with," he added, referring to roughly $95 trillion in OPEC holdings of U.S. dollars and investments accumulated largely through oil sales. Contending that we can "protect our people against investments that jeopardize our national security," Mr. Bush added, "Seems like we ought to let it come back." But President Bush is ignoring some basic principles of U.S. capitalism and democracy: personal and corporate ownership rights are nearly sacrosanct.
Source:
The Washington Times
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