Would asking our legislators to not invest in Red Chinese companies that are actively working against American interests be too much to ask? Apparently.
Sen. Dianne Feinstein, who apparently couldn’t get rich enough trading stocks with her fellow Buffett-like legislators, decided to get rich via investing in a CCP company. Well, to be fair, her husband did; he invested in a Red Chinese company that sold malware to the US military.
That comes from Peter Schweizer’s new book, which is titled Red-Handed: How American Elites Get Rich Helping China Win.
In one chapter of it, he tells the sad tale of how the Feinsteins got rich off CCP investments that did America harm. The basic story is this: while Feinstein provided cover for Red China’s human rights violations for over three decades, explaining away the communist nation’s evil actions, her husband made the family rich by investing in Red Chinese companies that desperately needed American capital as China’s economy rapidly expanded.
Despite the threat posed by Chinese power, greedy American bankers and financiers gave it to them, Richard Blum (her husband) among them. Feinstein, a Senator involved in the intelligence world, just watched and let him give our enemy the capital it needed to grow.
Actually, she did more than watch. Feinstein actively encouraged China’s economic growth, as Fox reports:
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The senator has been a defender of China for decades, becoming the first U.S. mayor to visit the country while running San Francisco. Feinstein supported granting Most Favored Nation (MFN) trade status to China in 2000 – a designation that relaxed restrictions and encouraged a surge in U.S.-China economic cooperation. In 1994, when the U.S. Senate was considering rescinding this trade status with China over human rights violations, Feinstein argued against it, saying it would “inflame Beijing’s insecurities.”
I’m sure her and her husband’s greed, greed that apparently outweighs national security or human rights concerns, had no effect on how she treated China.
Yet worse, Sen.Feinstein’s husband, Richard Blum, was involved with a Chinese company that sold spyware-equipped computers to the US military, computers that stole an incalculable amount of sensitive information from the military. And he wasn’t just an investor in some fund that invested in Chinese companies; he was a direct, part-owner of the Chinese firm.
That deal came when a PLA-involved computer company named Legend renamed itself Lenovo and, in 2005, became one of the main computer manufacturers by acquiring IBM’s personal computer products line.
That deal, one that shifted the computer market, involved massive amounts of private equity funding, some of which came from Newbridge Capital, the firm of Sen. Feinstein’s husband, Richard Blum.
As Breitbart reports of the deal and Sen. Feinstein’s involvement with it:
Some lawmakers worried Lenovo’s purchase of IBM’s personal computer line could jeopardize U.S. national security and transfer advanced American computer technology to China. Sen. Dianne Feinstein, who sat on the Senate Intelligence Committee at the time, was not one of them.
In fact, Feinstein, who had even gone so far to defend the CCP after the horrific Tiananmen Square massacre, let her husband go ahead and make the deal. So, the Feinstein-Blum family became invested in a Red Chinese company with direct ties to the CCP despite Feinstein being a senator who should have known the threat that company posed.
Then, despite security flaws having been discovered in the computers, the US military insanely bought a huge number of them. Turns out, the CCP-made computers sold to the US military contained spyware. Surprise, surprise.
The spyware stole a huge amount of data. An incalculable amount, in fact. As Fox reports, Lee Chieffalo, a security expert with the U.S. Marines, said in 2010 that: “A large amount of Lenovo laptops were sold to the U.S. military that had a chip encrypted on the motherboard that would record all the data that was being inputted into that laptop and send it back to China […] That was a huge security breach. We don’t have any idea how much data they got, but we had to take all those systems off the network.”