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Reply #63: Thanks for everything, oasis! A crazy monkey... [View All]

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-22-05 10:42 AM
Response to Reply #50
63. Thanks for everything, oasis! A crazy monkey...

... can't run a country.



Mondo Washington

George Bush, Failed Corporate Crook
Nitwit Scion Turns Avenger


by James Ridgeway
July 10 - 16, 2002


Bush the blue-blood rails against the corporate practices that made him rich. Photo: Eric Draper

President George Bush says he's outraged at the scams that have sent big-name companies crashing, and he's not going to take it anymore. Feeding the polls, Bush tells the nation he wants new laws to bring criminal charges against dirty-dealing CEOs who fake company books and destroy not only the public's trust but its savings as well.

In common parlance, what these execs are doing is called fraud, and common knowledge says Bush already has the power to do something about it. Yet again, the president is ducking a tough issue in favor of a PR operation. The problem for Bush is how to seem to be attacking corporate scoundrels while keeping their campaign contributions coming. This is, after all, an election year, and the GOP badly wants to recapture control of the Senate and widen its margin in the House.

If Bush really wanted to address the situation, all he'd have to do is to pick up the phone, call Attorney General John Ashcroft, and ask him to launch an investigation of any one of these CEOs for fraud, conspiracy, theft, obstruction of justice, or perjury. The president could also turn to the Securities and Exchange Commission, which can refer a civil case for criminal prosecution. Bush doesn't need additional legislation to do this. All he has to do is call. He refused to do that in the Enron case, even though his administration knew about the scandal months before the company went public with its bankruptcy. And he hasn't done it with any of the subsequent double-dealings.

Perhaps Bush's inaction stems from his own history of stumbling in the corporate back alleys. Last week, the media revived a case from the early '90s, where it looks like Bush was involved in insider trading with the stock of an oil company of which he was an official. He dumped the shares shortly before the firm tanked, then failed to report his activity to the Securities and Exchange Commission for months. The ensuing investigation, handled by an agency whose director was a Bush appointee and whose general counsel was Bush the younger's own former attorney, was dropped.

Though Bush has shown he can play the game, too, he's not quite ready for the majors. The big difference between him and a guy like Kenneth Lay is that Lay at least was successful. Before he left the world of commerce for a life in politics, Bush lost money time and again. "It was dreadful," one investor told The Wall Street Journal. "I think we got maybe 20 cents on the dollar," said another.



CONTINUED...

http://www.villagevoice.com/news/0228,ridgeway,36385,6....



And to think 38-percent of the American people approve of this crook...
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