Overshadowed by news yesterday of progress by the Trump team in securing more reciprocal trade arrangements with the Chinese Communist Party were reports that top Wall Street firms are doubling down on the CCP’s wildly unreciprocated access to our capital markets.

At issue is fundraising that Jamie Dimon’s JPMorgan and Brian Moynihan’s Bank of America are determined to do for what the Pentagon has determined is a “Chinese military company operating in the United States.” Known as CATL, this conglomerate makes electric batteries for consumer vehicles. Its batteries are also making China’s submarines more lethal.

House CCP Committee Chairman John Moolinaar has explicitly warned Dimon and Moynihan to abandon the CATL deal. By refusing to do so, they must now be subject to extensive document disclosures and, ideally – given the harm they are causing to the national security – public repudiation, as well. 

This is Frank Gaffney