China Angles to Buy 3Com
Thursday, October 25, 2007 2:48 PM
• The pending sale of a U.S. defense contractor to a company directly linked to the Chinese army would normally be canceled at once.
However, the links between a dark Chinese company and many of the most powerful politicians in America appears to have put the buyout of 3Com on the fast-track toward approval.
Bain Capital and Goldman Sachs — two leading financial firms — are currently seeking the buyout of 3Com, a computer communications firm with U.S. defense contracts. 3Com makes equipment used by the Pentagon to block computer hackers.
Bain is financing the buyout of 3Com with the Chinese telecommunications giant Huawei. Huawei is associated with the Chinese, Iraqi, and Taliban militaries. . . . ]
• For example, current Republican candidate Mitt Romney has links to Bain. Gov. Romney enjoyed a successful career at Bain, helping to amass over a quarter of a billion dollars in his own personal fortune. Romney may have left the company in 2001, but he and his ****** still own a significant stake in the firm through his blind trust, which according to the Washington Post earned him $7 million to $15 million during the last year.
Bain associates, employees and friends have also been very generous to Gov. Romney's campaign for the White House. Bain employees have donated over $190,000 to Romney, making the firm one of his largest sources of political cash. This amount does not include the efforts of former and current Bain partners and executives of companies Romney bought who are also raising hundreds of thousands of dollars.
All these financial ties to Bain bring into question the possible conflict of interest that Romney faces. So far, Gov. Romney has refused to comment on the Bain deal. Repeated calls to the Romney campaign were not returned.
