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Paulson saves us from foreign govts buying America |
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Written by Stumo
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Friday, 21 March 2008 |
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Henry Paulson announced
that the governments of Singapore and Abu Dhabi have agreed to disavow political motives
when buying U.S. companies. Oh goody. This must have been
one of those Strategic Economic Dialogue® things Paulson does sometimes. We are safe from Singapore and Abu Dhabi. I would say "good start", except it's not.
Here's how the SED® has been going:
The general impression I have is that there is an openness to
discussing this, said Clay Lowery, an assistant Treasury secretary for
international affairs, referring to a best practices code. Some funds
think this is a really good idea. Some are saying, Lets do a little bit of wait-and-see.
The U.S. could have passed a law saying that foreign
governments can buy U.S. corporations in an amount equivalent to the
U.S. government buying their countries' corporations. This law
would have applied to China too.
In fact, let's do a test
case Henry. How about if the Treasury Department signs a deal to
buy... oh, let's say... a major Chinese steel company. Just
51%... not all of it. See what happens. You know, like Clay
Lowery says... "Let's do a little bit of wait-and-see." Then
we'll apply their standards here, when they buy our companies.
Fair trade.
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U.S. Chamber of Commerce - Everything is OK |
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Written by Stumo
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Friday, 21 March 2008 |
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The U.S. Chamber of Commerce has a couple of hilarious press releases.
The
first says that trade has been good for Michigan. The group
commits accounting malpractice by telling us only how much Michigan
exports, without discussing the other side of the ledger...
imports. And no mention of outsourcing. Odd. The full
release is below the fold. I wonder if some people, outside of
Michigan, actually believe them. Oh yeah. McCain believes
it.
The second says
that the U.S. Columbia trade agreement "will bring real benefits to
American workers, farmers and companies." Its really nice that they are
trying to help the farmers, even though farmers are not Chamber members.
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Read more...
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More on Hillary's early NAFTA support |
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Written by Stumo
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Thursday, 20 March 2008 |
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The 11-10-93 meeting Hillary Clinton held to push NAFTA. 120
people expected. Hillary has said she did not agree with
NAFTA. David Gergen, who I do not trust, said she was
"unenthusiastic about NAFTA."
But two attendees of the meeting have now spoken. Unnamed attendees cited by ABC news... and I kind of hate when the press quotes unnamed sources.
Two attendees of that closed-door briefing, neither of whom are
affiliated with any campaign, describe that event for ABC News. It was
a room full of women involved in international trade. David Gergen
served as a sort of master of ceremonies as various women members of
the Cabinet talked up NAFTA, which had yet to pass Congress.
"It wasnt a drop-by it was organized around her participation," said
one attendee. "Her remarks were totally pro-NAFTA and what a good thing
it would be for the economy. There was no equivocation for her support
for NAFTA at the time. Folks were pleased that she came by. If this is
a still a question about what Hillary's position when she was First
Lady, she was totally supportive of NAFTA.
That first attendee recalls that the First Lady's office in the East
Wing put together "the invitation list, who was invited authorizations
and all that stuff."
And what is this attendee's response to Clinton today distancing
herself from NAFTA? "For people who worked hard to pass NAFTA and who
support the importance of markets opening for the economy in the long
term, they're very upset. A number of the women who were there are very
upset. You need to have some integrity in your position. The Clintons
when Bill Clinton was president took a moderate position on trade for
Democrats. For her to repudiate that now seems pretty phony."
Recalls a second attendee, "they were looking for women in
international trade who supported NAFTA. Senator Clinton came by at the
end. And of course she asked for our support and help in passing NAFTA."
Women who attended that event, the second attendee says, have been
incredulous to see Clinton distance herself from the trade agreement as
she campaigns today. "They're all saying, 'What's this all about?' We
all heard it firsthand." She says Clinton isn't being honest with
voters today.
I disbelieve any claim Hillary did not support NAFTA. I would
believe it if she said she now sees the NAFTA model as a mistake.
Oh... by the way. McCain is a wacko free trader.
This issue is tying them in knots. What's the matter with
ditching the patchwork quilt of NAFTA agreements and just applying our
own trade laws? We are the biggest economy in the world, and
those wanting to sell here can just play by our rules. Those
rules... the U.S. trade laws... are really pretty good and fair.
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Obama vs. Clinton on NAFTA- The Sequel |
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Written by Stumo
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Thursday, 20 March 2008 |
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Obama's campaign released a memo in response to the disclosure of Hillary Clinton's daily White House schedule showing she helped promote NAFTA:
Senator
Clinton made her opposition to NAFTA a cornerstone of her Ohio
campaign. There was only one problem: she wasnt telling the
truth to Ohio voters. Misrepresenting your position and carefully
parsing your words when you dont think youll get caught are the
hallmarks of the kind of politics that Barack Obama is running to
change. Thats the kind of politics that led us into war in Iraq
and gave us a tax code that lets those with offshore investments pay a
lower tax rate than the average working family in Pennsylvania.
Clinton responds without addressing the issue of her closed NAFTA meetings at the White House, and without acknowledging her advisor's communications with Canada during the Ohio campaign telling them not to worry about her NAFTA rhetoric:
Once
again the Obama campaign is demonstrating that Sen. Obama's words can't
be trusted. Last year, Senator Obama said that he would not engage in
personal attacks. Now, after losses in Ohio and Texas, the Obama
campaign is explicitly attacking Sen. Clinton's character. Instead of
attacking Sen. Clinton, Sen. Obama should explain to the American
people why his top economic policy adviser was telling the Canadians
that his promise to fix NAFTA shouldn't be taken seriously. The fact is
that independent accounts make clear that Senator Clinton did not
support NAFTA and that she is the candidate Americans can trust to fix
it.
I still don't understand what really happened with the Canada/Goolsbee communications.
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NY-26: Tom Reynolds retires |
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Written by Stumo
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Thursday, 20 March 2008 |
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Tom Reynolds is retiring.
He ran the Republican National
Campaign Committee for the 2006 election, which turned out poorly for
his party. He narrowly beat Jack Davis in 2006, though the
district is solidly Republican. Davis' major campaign theme was
to reign in the wacko free traders. A major RNCC financial
scandal occurred on his watch, though it was only recently revealed.
Here are the core political stats for NY-26:
Voter Registration Ratio: 40% Republican, 32% Democrat, 28% other
2004 Pres Vote: Bush 55.17%/Kerry 43.05%
2006 Congressional Vote: Reynolds 51.98%/Davis 48.02%
Other Dems include Iraq war veteran Jon Powers, who has liberal blogosphere support and institutional Dem support in the area. Alice Kryzan
is an environmental lawyer who - I'm spreading rumor now - I believe
worked to defend corporate polluters in the Love Canal case. I
don't believe Powers and Kryzan have much money at this stage.
Jack Davis
has money (primarily self-financed), name recognition and an
experienced campaign staff. He is a former Republican and owns
all or part of I Squared R Element Company
in Akron, NY, a manufacturer of silicon carbide heating elements.
He vigorously promoted sensible trade policies to keep jobs and
manufacturing in the U.S., and may be ideologically best suited for
this manufacturing district which sits between Buffalo and
Rochester. Though Powers will counter with his military
record. We'll see.
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