This company played by the rules, and now it looks like the U.S. government is trying to move the goalposts. We're concerned that this could have a very chilling effect on investment in the U.S., particularly from the Arab world.

Freddie Mac ( FRE ) takes these issues, which relate to prior management of both the company and its government relations operation, very seriously. The settlement announced today is part of the company's ongoing efforts to put behind us regulatory and legal issues dating back to 2003 and earlier.

Our emphasis is to get Wal-Mart to abide by the rules. We want the company to realize they have to change if they want to be part of the global business community.

Our concern is that this episode will send exactly the wrong signal not only to Arab investors but to investors around the world.

My sense is, if the deal would have involved anyone in the world except an Arab country, it would not have raised scrutiny.

There's a sense that there is a double standard here.