Marcy Kaptur blasts foreign investors

Ohio Democratic Rep. Marcy Kaptur, a long-time free trade skeptic, warned on Wednesday that the United States may come to regret allowing major Wall Street banks to sell sizable ownership stakes to foreigners.

"These big bankers and fund managers will stop at nothing for a profit, even at the price of our national security. They are selling out America," said Kaptur, a 13-term lawmaker who is now the senior female Democrat in the House of Representatives.

http://www.reuters.com/article/fundsFundsNews/idUSN1614416120080116

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"fund managers will stop at nothing for a profit" huh, they are taking care of my retirement, you bet I want profits. I guess it is better for the government to take care of me. That is why I am not planning for any social security, because the spending and promises that are going on now will make it worth nothing. But that is why I am counting on the fund managers to make profit so I get more investment. I don't understand her position.

What do you think are the problems with these investments? Is Kaptur right or wrong. I think she is wrong, but I only get one vote :)

Banks are a key component of a nation's ability to stabilize and control its economy. Selling stakes in them to foriegn investors is no small thing. She is absolutely right. They will come-a-calling. Don't worry, though, she will be ignored. As far as her being a "free trade skeptic", I wish there more of them.

There are forces out there that can't conqueror us militarily and they have money. If they invest in our economy then abruptly pull out, our economy will go into a tail spin and crash. Then they can just walk right in. I suggest that the US institute legislation to divisionalize free trade. There will be a domestic market and a separate international market for foreign investors. only. That way, if they want to play games they only hurt themselves and other foreign investors. Keep the economic terrorist/warriors out of our domestic markets.

separate foreign investment from domestic

I believe that the more common interests we have the less we will find to disagree about.

This war and the oil prices are a good example of why. It used to be a war was a boon to the economy. In today's global market of global interests this is not the case a war is a drain. If having more foreign governments having a stake in the success of each other there will be fewer and fewer military conflicts.

MikeyA

MikeyA

Yet we want or suggest that we should be to ourselves and seem to fear all that a global community is.
How many investors or investments have not even been on the radar screen and have quietly be undertaken and there is no ill effect.
China holds some of the largest U.S. dollars in reserve.

I agree with craig & kirk. I believe China owns the tolls in Indiana already (or something like that - this was explained to me by somebody who knew what they were talking about, but I admit I may have lost something in the translation.) My husband told me years ago, that about a dozen families own this country - I doubted him then - but it's true, about 50+ people run the show. Banks & Big Pharma own & run a huge amount of this country, if not most. Maybe off track a bit - but when our banks are bought up by foreign investers, I think we are setting ourselves up for a huge fall. China already owns much of this country; banks, businesses, etc. As it stands, our dollar is worth less than it's ever been worth - there's not gold enough to back it. Our deficit is obscenely scary. There's just entirely too many variables that selling out to foreign investors could bring our country to it's knees. As informed as Chris usually is - I think he's short sighted on this one. I don't think it's about being able to collect social security checks at all. There was a time when this country was the best, brightest, strongest, most opportunity filled country in the world. Everybody wanted to come here to live the American Dream. Not so much anymore - and many countries would love to see us brought to our knees - or, to become our landlord. We have huge problems with Mexican illegal immigration & it is getting worse. Maybe not directly connected to foreign takeovers of our banks - but it's another huge variable that has to figure in there somewhere, as we are concerned, financially as a country. The SCHIPS program (paid for by tobacco dollars) has been in place for about a decade, and much of it goes to pay for illegal Mexican's medical care. The largest baby birthing hospital in the country is in Texas (Dallas, I believe) - and 45 percent of the babies born each day are Mexican illegals - who, by birth, are automatically citizens. Guess who pays for that birth, and the mother's medical bills? My sister lives in Texas, and she said that more Mexicans have collected from SCHIPS in the last 10 years than citizens of this country have. I apologise for rambling in a somewhat, disconnected manner here - but I honestly think that all of these are componants to our downfall. The selling off of our banks to foreign investors will be the kiss of death to us as a free nation. Social Security checks aren't even the issue.

"There was a time when this country was the best, brightest, strongest, most opportunity filled country in the world. Everybody wanted to come here to live the American Dream. Not so much anymore - and many countries would love to see us brought to our knees - or, to become our landlord."
So many people still consider this to be the land of oppurtunity and growth, why else would people stream across the borders to get here?
"We have huge problems with Mexican illegal immigration & it is getting worse."
A good of deal of the people crossing the border from Mexico, may be dark skinned and speak Spanish, but some of them are from Central and South America and are leaving the regimes there in search of a new begining.
"Guess who pays for that birth, and the mother's medical bills? My sister lives in Texas, and she said that more Mexicans have collected from SCHIPS in the last 10 years than citizens of this country have."
Yup, and so it goes when other people come here and settle and find that it is not as easy as it was thought to be, like the people from Southeast Asis fleeing repressive regimes there or refugees from Iraq and other countries.
What are we to do? Wall up the country and say no more or press our leadership for reform and not jingles and slogans.

Try the National Debt: just passed $ 9 trillion and heading for $10 trillion. Not a pretty picture!

lew

Scarier since supposedly, they are printing money without gold to back it & have done so for years.

neighborhood - there is a huge difference between immigrants who come here & jump through the legal loops to become citizens, and the masses of illegal immigrants who come here & never make the effort to become legal citizens - and have no plans to do so. They come here, knowing they'll get free education & health care; many collect welfare or paychecks & send it home to their families in Mexico. Many use fake ssn's & ID"s to get employment & driver's licenses. Many don't bother to learn the damned language. And after hearing the diatribes about how smokers cost too much in tax dollars for medical care, it burns my underbritches to know that illegals get free medical care while I (a smoker) & my family (not smokers) get zero help with our medical bills (Daimler insurance sucks hugely, with a deductable of over $4,000 - and that is after my husband cut his life insurance in half & sold a lot of vacation days, and still pays out of paycheck each week to put that deductable in place).

once it reaches $10 trillion, it will be easy to calculate the annual cost of servicing that debt. At 5% interest, that's $500 billion annually. Where is it going to come from?

Added to the annual deficit? Shouldn't we be asking the presidential candidates how they plan to deal with this dilema? So far, Republicans and Democrats have avoided addressing the hard questions.

Democrats = Tax & Spend; Republicans= Spend & Charge. The common denominator is: Spend, and "You Ain't Seen Nothin' Yet!"

lew

People from other nations do not care about us. In my travels overseas I found that the British were the worst. They may be our allies, but they resent the fact they used to be the 800 lb gorilla and now we are. Would you believe that some Brits still refer to the United States as ,"the colonies". Look through history and you'll find that for every empire there are dozens of would-be empire busters. Our situation is no different. Its our turn to be top dog and there are groups out there that want to put us in kennels. My point is, if the British pulled out their investments in the US, the US economy would dive to levels never seen before. Let foreign investors invest their money in the US, but don't let them have control of our economy. In addition, most people in the US appear to be afraid of what the Middle-Easterners might do, or what the people from the Far-East might do. If you want to worry, worry about the Canadians, the British, the French, the Germans and the Australians. They are the heaviest foreign investors.

Maybe therein lies the problem.
"We" picture ourselves as the top dog instead of realizing that we are but one country among many.
Instead of taking a place at the table of countries we want to sit at the head of the table and tell others what to do and how to act.
We want to be an empire?
"Let foreign investors invest their money in the US, but don't let them have control of our economy. "
You mean like Japanese and Korean auto companies, that not only invest here but are part of the economy.

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