October 9th, 2007
06:21 PM ET
15 years ago

Most GOP hopefuls say NASDAQ deal not a security threat

(CNN) - Most of the Republican presidential candidates said in a debate Tuesday that they support a Middle Eastern oil firm's bid for a large stake in a major U.S. stock exchange.

The majority of candidates agreed that the deal sealed earlier this year by oil-rich Borse Dubai for 20 percent of the NASDAQ stock exchange did not impact national security.

Former New York City Mayor Rudy Giuliani fielded the question first saying the foreign company should be able to own 20 percent of the stock exchange and that Americans should support foreign-domestic deals "if they are considered to be safe. If they pass safety and security clearances," he said.

The deal was highly scrutinized by the financial and political community opposed to foreign ownership of U.S. businesses.

"But you just can't rule out foreign companies. There's a whole procedure you go through as to whether or not are they safe. Are they secure? We cannot stop doing business with the rest of the world," Giuliani added.

Former Massachusetts Gov. Mitt Romney, once a businessman and venture capitalist, responded enthusiastically.

"Of course, you let a country invest in the United States,” he said. “Because we're going to have to stop thinking always in terms of defense and trying to keep other people out.”

Former Arkansas Gov. Mike Huckabee, Texas Rep. Ron Paul, Arizona Sen. John McCain, former Tennesssee Sen. Fred Thompson, and Kansas Sen. Sam Brownback agreed, but California Rep. Duncan Hunter and Colorado Rep. Tom Tancredo did not.

Hunter said he does not believe the company should have been allowed the large stake in the exchange.

"Because I don't trust them," he said.

"If Dubai wanted to buy Wal-Mart, I might think about it," Tancredo joked.

–CNN Assignment Editor Katy Byron

Filed under: Duncan Hunter • Fred Thompson • Michigan • Mike Huckabee • Mitt Romney • Rudy Giuliani • Sam Brownback • Tom Tancredo
soundoff (9 Responses)
  1. laurinda,ny

    There go all the Republican Candidates, already deciding to sell pieces of our country to the highest foreign bidders. Unbelievable!

    October 9, 2007 07:23 pm at 7:23 pm |
  2. Bob, San Francisco, CA

    We'll just keep selling out America so a few people will profit. This goes for outsourcing as well. Our country used to be strong because of our economic independence. It's not only a matter of security.

    October 9, 2007 07:34 pm at 7:34 pm |
  3. Charles, Los Angeles, CA

    There go all the Republican Candidates, already deciding to sell pieces of our country to the highest foreign bidders. Unbelievable!

    The problem isn't that; it's the motivation behind the sale. Where Giuliani sees profit and money coming into his coffers, Ron Paul sees an opportunity to invite increased trade with nations we may not agree with in order to foment democratic change in those nations.

    In history, the only free nations were those that freely traded, unfettered, with one another. It takes not even an hour of research to find empirical evidence of such.

    October 10, 2007 03:13 am at 3:13 am |
  4. Alice Newman

    The GOP candidates wear their flag pins and then when it comes to the bottom line, willing to sell the USA to the highest bidder! This is the same country that wanted to supervise port security.

    Easier to be tough when talking about illegal immigrants.

    The terrorists don't need to attack. If they wait patiently, we will rot from the inside – under Republican leadership.

    October 10, 2007 05:12 am at 5:12 am |
  5. Sternberg, Mauldin, SC

    We get to invest in their countries, now don't we? We drive our trucks in Mexico. As we develop partnerships with others, we will give them and ourselves better and stronger reasons for both of us to work in everyone's best interests.

    October 10, 2007 06:07 am at 6:07 am |
  6. James, Lake City, Fl.

    I guess when every other country in the world owns every bussiness in the us they can start putting ecconomic sanctions on us when they think we are violatimg some law in there country. Get ready for it people, Uncle Mohamed Chin Yeltsin might want fire you or not hire you for being American, in America. Ever try to get a job at a chineese restaurant, not unless you at least look like your asian.

    October 10, 2007 02:27 pm at 2:27 pm |
  7. Terry, El Paso, TX

    One positive thing about outsourcing and allowing our nation's economy to be owned by foreigners is that we can save a lot of money on college tuition, eductional grants, etc. It doesn't take a Master's degree to flip burgers and mop floors.

    October 10, 2007 09:21 pm at 9:21 pm |
  8. Nick, Houston, TX

    Another thing I am so confused about..is why people separate being a Christian from religion? I am a Christian and Jews are different then me? Christianity is anybody who believes in Jesus Christ. Religion is not going to get you to heaven..

    October 12, 2007 12:45 pm at 12:45 pm |
  9. Nick, Houston, TX

    Oops wrong comment..

    October 12, 2007 12:46 pm at 12:46 pm |