How the CCP is still absconding with our troop’s savings

Thank heavens, President Trump recently blocked the investment of retirement savings of US military personnel and other federal employees in Chinese Communist Party companies.

There are three justifications: First, such companies don’t comply with our rules designed to protect investors against fraud and material risk. Second, some pose a threat to our national security. And third, some help the CCP violate the human rights of its own people and, increasingly, others around the world.

Unfortunately, Wall Street indexes that guide many exchange traded funds are investing in those same Chinese companies other savings belonging to our servicemen and women and their civilian counterparts.

Worse yet, no one – not the indexes, not the exchange traded funds and not the Securities and Exchange Commission – is doing due diligence on these CCP corporations. Or reliable audits. What could possibly go wrong?

That must stop, too.

This is Frank Gaffney.

About Frank Gaffney, Jr.

Frank Gaffney is the Founder and Executive Chairman of the Center for Security Policy in Washington, D.C. Under Mr. Gaffney's leadership, the Center has been nationally and internationally recognized as a resource for timely, informed and penetrating analyses of foreign and defense policy matters. Mr. Gaffney formerly acted as the Assistant Secretary of Defense for International Security Policy during the Reagan Administration, following four years of service as the Deputy Assistant Secretary of Defense for Nuclear Forces and Arms Control Policy. Previously, he was a professional staff member on the Senate Armed Services Committee under the chairmanship of the late Senator John Tower, and a national security legislative aide to the late Senator Henry M. Jackson.