Skip to comments.Hunter: Romney should denounce Bain Capital's Chinese ties
Posted on 11/02/2007 5:53:53 PM PDT by pissant
WASHINGTON (CNN) Congressman Duncan Hunter, R-California, who is running for President, called on Mitt Romney, another GOP candidate, to take a public stance on the proposed partnership between the private equity firm Romney founded and a Chinese-based company.
Before running for Governor of Massachusetts in 2002, Romney was the CEO and founder of Bain Capital Partners, a highly successful venture capital and investment firm based in Boston which currently manages more than $50 billion in assets, according to the company's website.
Last month, Bain Capital and China's Huawei Technology purchased 3Com in a deal valued at $2.2 billion. The deal gave the Chinese company a minority stake in 3Com, an internet security company.
Hunter says that 3Com has contracts with the U.S. Dept. of Defense. However, Bain Capital tells CNN 3Com does not contract with the U.S. government directly, and the Chinese company will not have access to sensitive U.S.-origin technology or U.S. government sales as a result of this transaction.
In a letter addressed to Romney, provided to CNN by Hunter's campaign, Hunter claims the Chinese company has ties to Saddam Hussein and the Taliban and asks Romney to come forward with a "clear statement" in opposition to the deal sealed last October.
The Bain Capital deal in question "can only be characterized as irresponsible," Hunter said in a written statement.
In September, other Republicans in the House called on the Bush administration to block the merger and proposed a resolution that says the deal "threatens the national security of the United States and should not be approved by the Committee on Foreign Investment in the United States."
Romney's campaign provided CNN the following statement in response to the request from Hunter, "Governor Romney is no longer involved in Bain Capital and their investment decisions."
(Excerpt) Read more at politicalticker.blogs.cnn.com ...
More on Hunter:
Hasn’t Romney been disassociated with Bain Capital for 10 years?
Bain Capital along with Thomas Partners presently is in the process of buying Clear Channel Communications. CC is the largest radio group in the US and owns the contract for Rush Limbaugh.
If Duncan Hunter wants to complain he would be better able to make hay complaining about CC.
I heard Mitt Romney say twice on Laura Ingraham’s show that he wants a partnership with China. We better watch Romney very closely. He is slick.
I ordered Chinese takeout today. Should I denounce the restaurant now?
Even Milton Freidman saw the limits of free trade.
I forgot the link.
HUNTER, HUNTER, HUNTER!!!
DUNCAN HUNTER - You may not know his name....until you want to thank him!
There are two camps.
Essentially one is in support of such a deal because it is "good for business". These are usually the Chamber of Commerce, US Embassy types, big business folks who would bid on the rope they would hang us with.
There are others here, independent types, realists on China and it's intents, intel and military types, who are NOT in support of the Huawei deal to buy out 3Com on national security grounds.
IT IS GREAT THAT MR HUNTER HAS ELEVATED THIS GEOPOLITICAL AND NATIONAL SECURITY ASIAN-BASED ISSUE INTO THE PRESIDENTIAL RACE!!!
And Romney needs to come clean on this kind of stuff.
He did NOT denounce the deal or sale, completely ignoring the main question.
Thanks for your take on this. I don’t know enough about the deal to have an opinion, but Hunter hasn’t been wrong yet. Time will tell.
Can you imagine how hard it would have been for us to fight WWII if we had been outsourcing the way we do now?
We couldn’t have done it. It would have taken years to rebuild our manufacturing capabilities to the point where we could build the machines of war we needed. We would have been overrun before we were even ready to fight.
Gotta figure, Japan was probing at us by way of Mexico, Alaska, and the west coast while Germany probed at us by way of Mexico and the east coast. If we had to screw around for a decade rebuilding manufacturing capabilities we would have been screwed.
“I ordered Chinese takeout today. Should I denounce the restaurant now?”
Ha! That’s funny.
who are these 'other' Republicans?
I like Hunter, but he's really stratching it on this issue.
Not only has Romney relinquished defacto control of Bain, but in reality, any US company can probably be linked to China through the "seven-degrees-of-separation" factor.
If the CIA or Dept of Defense had problems with the subsidiary, I'm certain they would have made a big stink about it.
Their silence speaks volumes.
I bought 500 shares of several Chinese companies today. (I'm not kidding. They continue to rise faster than NYSE)
Should I make a citizens arrest on myself.
Maybe I should "come clean" and confess my sins to the nearest Priest.
3com has defense contracts. You better believe that ROmney better be denouncing the damn deal.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.