CFIUS Reform Finally Recognizes Telecommunications Security

New York – March 13, 2007 - Today, 2008 Presidential Candidate, Daniel Imperato commented on the recent CFIUS (Committee on Foreign Investment in the United States) Reform that was passed by the United States House of Representatives.

"First of all, I am happy to see the United States Congress stopped the political infighting for a moment in order to address a serious concern. The committee on Foreign Investment has now become very important to the national security and business viability of the United States of America. In determining the best course of action, we must safeguard our national security, while encouraging foreign investment to help boost our economy," stated Imperato.

CFIUS came under fire recently, after the Dubai Ports deal, that was approved and then reversed, and the recent French-owned Alacatel's merger with Lucent Technologies, a major US telecommunications equipment company.

The new House legislation calls for more 'mitigation agreements' or national security guarantees from foreign investors, and insisting on fines for any breach of national security.

For instance if French-owned Alcatel fails to live up to their national security obligations, CFIUS could reverse the deal with Lucent Technologies.

"America must protect its telecommunications infrastructure as part of its national security requirements. With domestic wiretapping, and personal privacy such a major concern for this country, it is important that there are safeguards to protect Americans. The United States needs to do whatever it can to secure our telecommunications system in the US, a system that is not secure, and the US needs to advance its own investment into telecommunications equipment and technology so that US can once again become the dominant leader in the field," stated Imperato.

In addition, Imperato was quick to point out that CFIUS must also use strict criteria to determine which mergers and business transactions pose a major threat to national security.

"Our telecommunications infrastructure, and knowledge of the internal US communications backbone, is highly sensitive information that definitely has national security concerns. Approving a ports contract from a British company to a Dubai company may not have the same concerns. With US oversight, US workers, and US government provisions, an agreement, in my opinion, could have been reached. "

Imperato suggested that by setting clear criteria as to what constitutes national security interests, the United States can help attract foreign investment rather than scare foreign investors away.

"The reality is that we live in a global society. US investors invest around the world, and global investors invest in the United States. Global Investment money is very important to our economy, and we must do all that we can as nation to scrutinize foreign investment, not scare it away. The international community can play a very important role in our economy, and it would be beneficial to the United States if we can improve our balance of trade."

Imperato concluded his statements with the following, "As a nation, we depend on our leaders to protect our interests. Our leaders are supposed to understand these complex issues and make educated judgments. Many times this is not the case. That is why I feel that I must offer myself to the American people. I have hands-on experience in the Foreign Investment arena, as well as in telecommunications and other national security industries. I understand the technology and the strategic issues at play. America deserves someone that can help protect America and help it grow economically. I stand up to tell America that I am that person, and I would be humbled to have the opportunity to serve you as your next president in 2008."