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May 2, 2024
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congress has attempted to strike that balance during various reforms of the cfius process. most notably 2007 and in 2017. today, i invite you to join me to our panel in that discussion. first to mr. daly and then the rest of the panel. from your viewpoint, what is the correct balance between national security while also allowing the international investment in our economy? let us cut to the chase. >> well, we have to keep her open investment policy. that's been sustained since president carter through now. one of the greatest strengths we have as a country is the investment we get from abroad. trade is very important, but foreign investment pales it. that said, as you know sir in your oversight capacity, there are serious national security issues that are drawn from foreign investment and chinese actors have been interesting in the way they have found vulnerabilities, not only in our laws and the gaps that proceed from its, but in the capabilities to use nefariously third-party actors to gain entrance and access to places where we have needs in terms of our national securit
congress has attempted to strike that balance during various reforms of the cfius process. most notably 2007 and in 2017. today, i invite you to join me to our panel in that discussion. first to mr. daly and then the rest of the panel. from your viewpoint, what is the correct balance between national security while also allowing the international investment in our economy? let us cut to the chase. >> well, we have to keep her open investment policy. that's been sustained since president...
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May 2, 2024
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we should all be analyzing it that is what i proposed the cfius model at the state level because i get the privilege and i get the opportunity to be solely focused on south dakota. i know what's going on there better than i think someone does that doesn't live in south dakota and lives across the country and no offense to the federal government, but it is very rare you guys fix anything. a lot of times when we are doing something, i am doing it in south dakota or another governor is doing it and you're taking it as a model and using it. frankly the united states constitution gives us rights and opportunities, more than the federal government. by giving us the opportunity to fight for my people and to bring policies forward it gives other states a chance to do that in the federal government follows in place. i would use tiktok as an example. by banning tiktok on government devices, dozens of states followed our lead. the federal government recognize the threat tiktok was how it was collecting data and spying on us and being used to study the american people and stealing our information,
we should all be analyzing it that is what i proposed the cfius model at the state level because i get the privilege and i get the opportunity to be solely focused on south dakota. i know what's going on there better than i think someone does that doesn't live in south dakota and lives across the country and no offense to the federal government, but it is very rare you guys fix anything. a lot of times when we are doing something, i am doing it in south dakota or another governor is doing it...
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May 3, 2024
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it adds the secretary of agriculture to the cfius committee. this was the first formal addition of a cabinet secretary to cfius and reflects what we all know to be true, a country cannot feed itself cannot defend itself. i thank you. and i yield back. mr. thompson: i am pleased to recognize ranking member scott. mr. scott: chairman, i want to thank you for letting democratic witness go first. we are proud to hear from a farmer on this issue. and thank you letting my democratic colleague go first. and i want to rm -- you said the world is watching us today on this very strategic national security issue. and i thank you for that statement. and indeed they are. i have learned so much from so many of my colleagues but none more than congressman mcgovern on this whole food issue. he's a national world leader on food security and hunger. and i'm telling you, this is a national issue. and i hope if there's one thing that goes from this hearing, it's that we are putting this issue at the front of the list. there are people all over the world are watchi
it adds the secretary of agriculture to the cfius committee. this was the first formal addition of a cabinet secretary to cfius and reflects what we all know to be true, a country cannot feed itself cannot defend itself. i thank you. and i yield back. mr. thompson: i am pleased to recognize ranking member scott. mr. scott: chairman, i want to thank you for letting democratic witness go first. we are proud to hear from a farmer on this issue. and thank you letting my democratic colleague go...
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May 3, 2024
05/24
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i proposed the cfius model at the state level. i get the privilege and opportunity to be focused on south dakota and i know what is going on there better than someone else who lives across the country. no offense to the federal government very rare that you fix anything. and when we are doing something, i am doing it in south dakota and you are taking that as a model and the constitution gives us states' rights to lead than what it grants to the federal government. by giving us the opportunity for me to fight for my people it gives other chances and the federal government. i would use tiktok. by banning tiktok, dozens of states followed our lead and federal government came in and recognized the threat that tiktok was and collecting data and spying and study the american people and how to steal our information. you know, let the states be incubators what the constitution intended us to be and the federal government can move forward and do things right. i am much more nimble than the federal government is. mr. thompson: i thank the
i proposed the cfius model at the state level. i get the privilege and opportunity to be focused on south dakota and i know what is going on there better than someone else who lives across the country. no offense to the federal government very rare that you fix anything. and when we are doing something, i am doing it in south dakota and you are taking that as a model and the constitution gives us states' rights to lead than what it grants to the federal government. by giving us the opportunity...
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May 10, 2024
05/24
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you have to go through cfius. you have to to get approval.n, it's probably a 0% chance. if there's a trump administration, a little more friendly but still, you know, not totally friendly on big mergers. you know, does donald trump want to give a u.s. company over to the japanese? he may not want. to i mean, nationalism has been part of his economic policy from the beginning. apollo will be a minority investor in this thing, in this new company, but aapollo owns local cable stations, local tv stations. so they're going to have to divest of some of that stuff. you've got to get licenses from the fcc because it's foreign ownership. skydance, in terms of a regulatory component, is pretty seam eless. it's all american, it's all american money because they've got redbird, not the am if i part that jeff zucker runs which has some saudi money in it, but just redbird private equity fund. it's american money. it'll be american management. so it's regulatorily seamless. the problem with the skydance deal is it doesn't give much benefit to shareholders,
you have to go through cfius. you have to to get approval.n, it's probably a 0% chance. if there's a trump administration, a little more friendly but still, you know, not totally friendly on big mergers. you know, does donald trump want to give a u.s. company over to the japanese? he may not want. to i mean, nationalism has been part of his economic policy from the beginning. apollo will be a minority investor in this thing, in this new company, but aapollo owns local cable stations, local tv...
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May 7, 2024
05/24
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i can say cfius about foreign investment. the administration has endorsed the restrict act which is how to create better tools to address these issues and this administration is focused on two important things. one is making sure that american data is safe and secure and the president has said that he wants that large platforms to be more accountable for the illegal or harmful content that is on their platforms and that will be true wrarls what the platform is. >> last year when there was a debate about banning tick tock and said it would be a sure way to lose voters. and i mean our political calculations impacting how this administration thinks about its policy on tiktok. >> i think we have had a very clear line on this all along. and i think the secretary of comments were made in jest. we had a clear long on this. tiktok is not available on any device. i can't use it, our team doesn't use it. we can't install it on our devices. and we have laser focused on promoting the privacy and security of data. it would be very damagin
i can say cfius about foreign investment. the administration has endorsed the restrict act which is how to create better tools to address these issues and this administration is focused on two important things. one is making sure that american data is safe and secure and the president has said that he wants that large platforms to be more accountable for the illegal or harmful content that is on their platforms and that will be true wrarls what the platform is. >> last year when there was...