Mr. President - Stop CATL

Last month, President Trump told his administration to implement an “America First Investment Policy” to stop Wall Street’s underwriting – and greatly intensifying – the threat we face from Communist China.

This month, four prominent U.S. investment banks are defying his executive action by ramping up their China First investment policy. J.P. Morgan, Bank of America, Morgan Stanley and Goldman Sachs are helping a Chinese military company called CATL raise $7 billion dollars or more from American and other investors. 

They have so far failed to mention President Trump’s directive, let alone its potential negative impact on the value of this foreign adversary’s corporation and its securities.

The Trump team must make an example of CATL’s Initial Public Offering by disallowing its enabling by U.S. banks. It should also require prominent warnings about any such future deals that they put China, not America, First.  

This is Frank Gaffney.