(The Wall Street Journal) -- Two years ago, Congress pressured the Arab emirate of Dubai to back out of a deal to manage US ports. Today, Persian Gulf states, China and Singapore have snapped up $37bn (€25bn) worth of stakes in Wall Street, the bedrock of the U.S. financial system. Lawmakers and the White House are welcoming the cash, and there's hardly a peep from the public.

This is no accident. The warm reception reflects millions of dollars in lobbying by both overseas governments and their Wall Street targets -- aided by Washington veterans from both parties, including big-time Republican fund-raiser and lobbyist Wayne Berman. Also easing the way: The investments have been carefully designed to avoid triggering close US government oversight.