President Bush signs off on Global Crossing sale

[DoYouEverWonder]

And guess which slimball crawled out from under his rock to get W to sell out the US to China?


Associated Press

WASHINGTON - President Bush on Friday allowed the sale of a majority stake in bankrupt Global Crossing Ltd. to a company owned by the Singapore government, a deal that had come under scrutiny for possible national security implications.

In a letter to congressional leaders, Bush said he would "take no action to suspend or prohibit the proposed 61.5 percent investment by Singapore Technologies Telemedia." The letter was accompanied by a classified report.

Once worth tens of billions of dollars, Global Crossing was sold to a joint venture of Hutchison Whampoa of Hong Kong and Singapore Technologies Telemedia for $250-million in August in a deal that required federal approval. The Hong Kong conglomerate pulled out after concerns about whether an American telecommunications network should be controlled by a company that may have close ties to the Chinese government.

<snip>

In trying to win government support for the sale, Global Crossing hired Richard Perle, who at the time led an influential civilian advisory group in the Pentagon.

[Booberdawg]

Richard Perle - go figure

:eyes:

[Nlighten1]

1. Oh dear...remember the "Clinton sold secrets to China!"

I wonder if those same people will be upset about this?