Decision ‘08

Ports Deal In The Works

Bill Frist thinks he’s found a way forward on the ports controversy:

Republicans in Congress are crafting a solution under which the controversial deal allowing a state-owned Arab company to run some terminals at six U.S. ports could move forward.

The agreement would first have to pass a 45-day investigation focusing on the national security implications of the deal, several sources linked to the talks said.

Senate Majority Leader Bill Frist of Tennessee is encouraging DP World to ask a government review panel to kick-start the investigations, which is the best way to convince lawmakers the transaction won’t jeopardize national security, a Frist aide said.

DP World, a company controlled by the United Arab Emirates, declined to comment Saturday.

That sounds reasonable (from a political standpoint), considering the hysterics that preceded it. More here:

Under Frist’s plan, the company would voluntarily separate U.S. ports from the rest of the deal for 45 days, allowing them to continue to operate as they do while the deal is re-vetted. That would allow a new review through the administration’s Committee on Foreign Investments in the U.S. (CFIUS). Administration officials remain adamant that their first review was thorough and proper, so the face-saving element was crucial, according to one Capitol Hill negotiator. Frist is proposing that this time, CFIUS do the extra 45-day review that the law calls for in transactions where there are national security concerns. That provision was not triggered last time because administration officials had no remaining concerns at the end of the first review. This approach would eliminate the need for new legislation now, the Republican sources said.

It’s becoming a common theme (certainly in the blogosphere, but in the MSM, as well) to rush to judgement with sky-is-falling pronouncements before all the facts are in. Patience is perhaps the virtue in the most limited supply these days…