George W. Bush nominated Dubai Ports senior executive David Sanborn to be the U.S. Maritime Administrator -- "a key transportation appointment reporting directly to Norman Mineta the Secretary of Transportation" -- just three weeks before the UAE takeover of U.S. seaports was made public. Treasury Secretary John Snow, who approved the deal and now denies it, was chief executive of CTX Corp. until George W. Bush appointed him in 2003. CTX sold its port operations to Dubai Ports for $1.15 billion a year later. The United Arab Emirates is a major stakeholder in the Carlyle Group -- the same gargantuan private equity firm that employed the elder George Bush as senior adviser. The UAE government-run fim Dubai International Capital backs an $8 billion Carlyle fund. And the Carlyle Group bought CSX Corp. in 2002, while Snow was still CEO. The UAE even gave more than a million dollars to the elder Bush's presidential library in Texas.
Monday, February 27, 2006
Posted by Grey Matter at 10:14 PM