Dem senator frustrated over Yellen claiming 'no basis' to probe Elon Musk's Twitter purchase

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Sen. Murphy says he doesn't 'understand' Yellen's claim that there is 'no basis' to probe Musk's purchase of Twitter

Sen. Chris Murphy said Wednesday that he doesn't "understand" Treasury Secretary Janet Yellen's claim that there is "no basis" to investigate Elon Musk's purchase of Twitter. 

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."

Sen. Chris Murphy joined "CNN This Morning" on Wednesday.  (Screenshot/CNN/CNNThisMorning)

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"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. 

Yellen said Tuesday that there was "no basis" to investigate Musk's $44 billion purchase of the social media site. 

"Well, I’m not sure precisely what [the president] had in mind, but we are – we have really no basis – to the best of my knowledge – to examine his finances of his company," Yellen told CBS News on Tuesday. "I’m not aware of concerns that would cause us to [investigate]."

President Biden was also asked on November 9 if Musk's purchase of Twitter was worth investigating and if Musk was a "threat to U.S. national security."

FILE PHOTO: Treasury Secretary Janet Yellen attends the House Financial Services Committee hearing in Washington, U.S., September 30, 2021. Al Drago/Pool via REUTERS/File Photo (Al Drago/Pool via REUTERS/File Photo)

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"I think that Elon Musk’s cooperation and/or technical relationships with other countries, uh, is worthy of being looked at," the president said. "Whether or not he is doing anything inappropriate, I’m not suggesting that. I’m suggesting that… it’s worth being looked at."

Murphy also said he hopes Congress will investigate Musk's Twitter purchase. 

Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A Delaware judge is hearing arguments, Tuesday, Sept. 27, 2022 over the exchange of information by lawyers in Twitter's lawsuit seeking to force billionaire Elon Musk to carry through with his $44 billion acquisition of the social media giant.  (AP Photo/Susan Walsh, File)

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"Maybe the conclusion is that this is a straight-up money play by the Saudis. They think they’re going to get their money back. They have no side deals with Elon Musk and the deal moves forward. But let’s at least ask those questions. Because if Musk says that the reason he bought Twitter is to promote free speech, well, then the Saudis are a really curious partner because they have the exact opposite goal," he continued.