This week's announcement that Dubai's investment company will take a 20% stake in the Nasdaq may have set off alarm bells in Congress, but it's probably just the beginning.
Sen. Chuck Schumer, D-N.Y., was especially quick to fire up his press operation and release a letter to Treasury Secretary Henry Paulson seeking assurance that the deal won't compromise U.S. national security.
However, as a political opportunity for Schumer and his ilk the Nasdaq deal has some problems. One is that Dubai is only acquiring 20% of the exchange, rather than a controlling interest. Another is that even the Bush administration is unlikely to be completely flat-footed for a second time on an issue that burned them so badly the first time around -- in the Dubai Ports fiasco.
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