45 DAYS

(Via Atrios)

ThinkProgress discovers that Fredo's boys skipped a MANDATORY REVIEW of the UAE deal:


In ordinary cases of foreign direct investment the Committee on Foreign Investment in the United States (CFIUS) first conducts a 30-day “review” of the transaction. After the review, the committee makes a judgment as to whether a 45-day “investigation” is necessary to address national security concerns.
The law, however, was amended in 1993. That amendment makes the 45-day investigation mandatory in cases like the Dubai World Ports transfer. From the CFIUS website:

Amendments. Section 837(a) of the National Defense Authorization Act for Fiscal Year 1993, called the "Byrd Amendment," amended Section 721 of the Defense Production Act (the "Exon-Florio provision"). It requires an investigation in cases where:
o the acquirer is controlled by or acting on behalf of a foreign government; and
o the acquisition "could result in control of a person engaged in interstate commerce in the U.S. that could affect the national security of the U.S."

The Dubai World Ports purchase triggers the automatic investigation. First, the company is “controlled” by a foreign government. Second, it’s undeniable that port operations “could affect the national security of the United States.”