"I don’t understand": Dem senator frustrated over Yellen claiming 'no basis' to probe Elon Musk's Twitter purchase

Posted 74 days ago


Sen. Chris Murphy, D-Conn., said he was frustrated over Secretary of Treasury Janet Yellen's claim that there was "no basis" to investigate billionaire Elon Musk's purchase of Twitter.

CNN host Poppy Harlow asked Murphy about Yellen's claim that there was "no basis" to investigate Musk's acquisition of Twitter after Murphy wrote the cabinet secretary a letter arguing they should probe his purchase. Harlow said there was a "huge investment" from Saudi Arabia and other nations.

"I don’t understand Secretary Yellen’s decision to not inquire about the circumstances of this massive foreign investment in an American media company," Murphy said. "CFIUS, the committee that reviews foreign investment in American companies, was set up for this exact situation where a foreign government has made an investment in a very important media company, perhaps with the intent of affecting American politics or getting access to Americans’ data."

He said that while the Saudi company had this investment in Twitter before Musk purchased the site, "almost everybody else cashed out when Musk paid a price for Twitter that was way above valuation."

"Twitter instead partnered with Musk, stayed in on the deal. It just makes sense for the United States government to ask why. What promises did Musk have to make the Saudis in order to stay as part of this financing deal?" Murphy continued.... (Read more)