So why should we worry about the United Arab Emirates owned company, Dubai running our ports? From the New York Times:

While the company in question has not been a focus of investigations, Dubai has been a way station for contraband, some of it nuclear. Abdul Qadeer Khan, the Pakistani nuclear engineer, made Dubai his transshipment point for the equipment he sent to Libya and Iran because he could operate there without worrying about investigators.

And I've been hearing that the White House approved it without Bush knowing about it. I was wondering how such a thing could happen? Well it seems that this is the workings of the mysterious Committee of Foreign Investment:

The debate over the sale should also shed light on the mysterious workings of the Committee on Foreign Investment, an interagency body led by the secretary of the Treasury. Under current rules, the committee can approve deals in which foreign companies take over American properties with national security importance after just a 30-day review, and without the approval of the president.

Creepy.