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Reply #59: Bush - bin Laden Money Connection [View All]

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-22-05 07:56 AM
Response to Reply #34
59. Bush - bin Laden Money Connection
A good overview from Wayne Madsen, courtesy of BushWatch.com:



The Bush-Bin Laden Money Connection

A Second Bush Oil Deal To Come With Murky Ties To Saudi Financiers And Osama Bin Laden


"On September 24, President George W. Bush appeared at a press conference in the White House Rose Garden to announce a crackdown on the financial networks of terrorists and those who support them. U.S. banks that have assets of these groups or individuals must freeze their accounts, Bush declared. And U.S. citizens or businesses are prohibited from doing business with them.

"But the president, who is now enjoying an astounding 92 percent approval rating, hasnt always practiced what he is now preaching: Bushs own businesses were once tied to financial figures in Saudi Arabia who currently support bin Laden.

"In 1979, Bushs first business, Arbusto Energy, obtained financing from James Bath, a Houstonian and close family friend. One of many investors, Bath gave Bush $50,000 for a 5 percent stake in Arbusto. At the time, Bath was the sole U.S. business representative for Salem bin Laden, head of the wealthy Saudi Arabian family and a brother (one of 17) to Osama bin Laden. It has long been suspected, but never proven, that the Arbusto money came directly from Salem bin Laden. In a statement issued shortly after the September 11 attacks, the White House vehemently denied the connection, insisting that Bath invested his own money, not Salem bin Ladens, in Arbusto.

"In conflicting statements, Bush at first denied ever knowing Bath, then acknowledged his stake in Arbusto and that he was aware Bath represented Saudi interests. In fact, Bath has extensive ties, both to the bin Laden family and major players in the scandal-ridden Bank of Commerce and Credit International (BCCI) who have gone on to fund Osama bin Laden. BCCI defrauded depositors of $10 billion in the 80s in what has been called the largest bank fraud in world financial history by former Manhattan District Attorney Robert Morgenthau. During the 80s, BCCI also acted as a main conduit for laundering money intended for clandestine CIA activities, ranging from financial support to the Afghan mujahedin to paying intermediaries in the Iran-Contra affair.

"When Salem bin Laden died in 1988, powerful Saudi Arabian banker and BCCI principal Khalid bin Mahfouz inherited his interests in Houston. Bath ran a business for bin Mahfouz in Houston and joined a partnership with bin Mahfouz and Gaith Pharaon, BCCIs frontman in Houstons Main Bank.

"The Arbusto deal wasnt the last time Bush looked to highly questionable sources to invest in his oil dealings. After several incarnations, Arbusto emerged in 1986 as Harken Energy Corporation. When Harken ran into trouble a year later, Saudi Sheik Abdullah Taha Bakhsh purchased a 17.6 percent stake in the company. Bakhsh was a business partner with Pharaon in Saudi Arabia; his banker there just happened to be bin Mahfouz.

CONTINUED...

http://www.bushwatch.com/bushmoney.htm





Well. There's a reason.
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