CNBC: Senate subpoenas Saudi Public Investment Fund’s U.S. subsidiary for info on PGA-LIV Golf deal
* A Senate Permanent Subcommittee on Investigations held a second hearing on the deal to merge LIV Golf and PGA Tour.
* Sen. Richard Blumenthal, chairman of the subcommittee, subpoenaed the Saudi Public Investment Fund for information related to the merger and other U.S. investments.
* Holdings by the PIF have grown from around $2.5 billion in 2018 to over $35 billion today, according to the committee.
WASHINGTON — Bipartisan members of a Senate subcommittee on homeland security demanded transparency Wednesday from a Saudi Arabian investment fund at its second hearing on the controversial deal to merge PGA Tour and Saudi-backed LIV Golf.
“Saudi Arabia’s bid to buy professional golf in America is not just one investment in a vacuum,” Sen. Richard Blumenthal, D-Conn., chairman of the Permanent Subcommittee on Investigations, said on Capitol Hill. “It is instead part of a web of growing investments in this country.
They are largely unknown and they are almost entirely without oversight.” Blumenthal announced that he had issued a subpoena on Wednesday to USSA International LLC, the PIF’s wholly-owned U.S. subsidiary, for documents related to the PGA Tour-LIV Golf deal and other U.S. investments.
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WNU Editor: Human rights organizations have been pushing for years to have US authorities investigate Soverign Funds like Saudi Arabia's .... HRW: US must investigate, regulate Saudi Arabia PIF (Middle East Monitor). The problem is that these funds are massive pools of capital that can have a huge impact on a country's economy and investment climate.
Saudi Arabia so happens to be one of the whales when it comes to these type of funds, and "ticking them off" is going to result in a backlash not only from Saudi Arabia, but from other sovereign funds who do not want their dealings made public by a US Senate Subcommittee which I can easily predict will be leaked.
U.S. Senate Subpoenas Saudi Arabia’s $700bn Sovereign Wealth Fund On Its Dealings In The U.S.
Senate subpoenas Saudi’s $700bn sovereign wealth fund over US dealings -- The Guardian
Senator subpoenas Saudis for documents on LIV-PGA Tour deal -- ESPN/AP
Saudi Arabia's PIF representatives ordered to appear before US government over PGA Tour relationship -- SKY Sports
The US Senate is demanding details about the Saudi wealth fund’s golf deal -- Quartz
Senate Subpoenas Saudi Wealth Fund as It Probes PGA-LIV Merger -- Democracy Now
8 comments:
- Sen. Richard Blumenthal is a jerk off.
- Like to see the names of the other jerk offs, but they were not listed in the article. We are told that it is a bipartisan circle jerk.
- Sports again. Congress always investigates sports when it has A-List items to deal with first and foremost.
Baseball Players Testify Before House Committe About Steroids - 2005 PBS
- It is de rigueur to criticize Saudi Arabia and the dopes wonder why Saudi Arabia is trying a charm offensive?
At least commenters, who net minders and social media minders hate, at various sites call Saudi Arabia as Saudi Barbaria. In that they believe that the underlying root cause is Islam not MBS or the country of Saudi Arabia per se. They are honest. Our betters? Not so much.
- Saudi Arabia knows oil is not going to last forever. So they are investing and they have a lot of money to invest like the British, Dutch and Japanese. If we are talking about undue influence lets talk about the Dutch monopoly of Elsevier, which many liberal intelligentsia have never heard about.
- Why not invest in the PGA instead of a so called blue chip stock right before it nose dives? Golf is here for a long time. Some media platforms like Meta...who knows?
Why paste a copy of the definition of "de rigueur"? Because it is very apt in showing how these suited monkeys operate.
de rigueur
adjective
-Required by the current fashion or custom; socially obligatory.
-Necessary according to etiquette, protocol or fashion.
-Required by etiquette or usage or fashion.
Since Donald Trump’s noisy exit from the presidency in January 2021, the former commander in chief and his family have made billions of dollars in business deals with Saudi Arabia’s ruling elite. Jared Kushner, the former president’s son-in-law who served as the de facto Middle Eastern viceroy during Trump’s tenure in office, has been the biggest buck raker in the clan. As Michael Kranish details in an extensive report published in The Washington Post on Saturday, both Trump and Kushner faced financial difficulty in 2021 but found salvation thanks to a sovereign wealth fund headed by Saudi Crown Prince Mohammed bin Salman (popularly known as MBS).
A private equity firm headed by Kushner received more than $2 billion in funding from MBS’s wealth fund—despite the fact that, as Kranish writes, “the four members of a five-person panel of the fund’s advisers who attended a meeting about the matter were ‘not in favor’ of the investment, citing Kushner’s inexperience in private equity and the fact that the Saudis would bear most of the risk.” Trump himself has received extensive Saudi funding in the form of tournaments held at his golf courses and the planned building of a new Trump hotel in Oman.
Saudis have a lot of money to invest. You cannot keep oil profits at a bank. When you have that much money it does not work. You have to invest in corporations.
Now, if you are the crown prince, are you going to invest money with the MBA Jared Kushner or the Crackhead with the JD?
If someone called you are murderer would you invest money with his son or with his clique?
So Kashogi got murdered and? What about CIA chief Colby? Who did business with his murderers? His murderers were Americans from DC or Russians. Not a lot of interest by the intelligentsia for some odd reason.
Kushner might be relatively inexperienced but he does have a good degree. It is the same degree Romney had and Romney did well.
Meanwhile Hunter Biden could not pass a piss test. Could any one named Biden pass a golden flow test? Asking for a bashful yellowbelly.
MBA or JD?
Oh, oh I know the answer! The JD. He votes Democrat!
ah, the name calling
Cruz, DeSantis, Trump all have degrees and act like fucking morons! there is something also called emotional intelligence.
You forgot to mention Obama and top of law school degrees.
Hunter: if he has done something illegal then by all means indict him. Meanwhile, it is TRUMP who is indicted in Georgia, NY, Miami, and DC. He is a felon and is going to jail.
I compared apples to apples.
Kushner is the son in law of the president. He has engaged n international business.
Hunter is the son of the Resident of the United States. He has engaged in international business.
See apples to apples. Now were the apples differ is that one is a crackhead apple.
Obama has not engaged in international business. He has gotten sweetheart book and film deals. We all know that Obama's participation at Harvard was tokenism. Can you recite any highly regarded article that da prez wrote as editor of the Harvard Law Review? No. why is that? because the editorship was given to him like the Nobel Peace Prize and the Netflix deals.
Now buzz of Russian scum.
I called you name? Such as bashful yellowbelly? I did. The shoe fits.
It really is a terrible name to call someone and the beauty of it is it contain not one swear word. But cry for us some more.
Hunter is a crackhead. He took the naked selfies to prove it.
You expect people to believe that lololololololol!
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