U.S. Critics Uneasy About China’s Investment Goals – Rachelle Younglai and Jim Wolf

From Reuters:

The head of the U.S. Senate Banking Committee on Wednesday said he wanted more details about China’s plan to buy a stake in investment bank Morgan Stanley.

China agreed to pay $5 billion for a 9.9 percent stake in Morgan Stanley, the latest position taken by a government-run fund in a major U.S. bank battered in the subprime crisis.

“I need to know more about the specifics of this deal, including whether a (national security-related) review is warranted, before coming to any conclusions about this matter,” Christopher Dodd, a Democratic presidential hopeful from Connecticut, said in a statement. [Full Text]