Senator Says Report Undermines Cheney on Relationship With Halliburton

[NNN0LHI]

http://ap.tbo.com/ap/breaking/MGAZMB6C1LD.html

WASHINGTON (AP) - A report by the Congressional Research Service undermines Vice President Dick Cheney's denial of a continuing relationship with Halliburton Co., the energy company he once led, Sen. Frank Lautenberg said Thursday.

The report says a public official's unexercised stock options and deferred salary fall within the definition of "retained ties" to his former company.

Cheney said Sunday on NBC's "Meet the Press" that since becoming vice president, "I've severed all my ties with the company, gotten rid of all my financial interest. I have no financial interest in Halliburton of any kind and haven't had, now, for over three years."

Democrats pointed out that Cheney receives deferred compensation from Halliburton under an arrangement he made in 1998, and also retains stock options. He has pledged to give after-tax proceeds of the stock options to charity.

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[The Magistrate]

1. Leading To The Excellent Question, Sir

How much of the monies Congress appropriates for Iraq will wind up in this putrid reptile's personal purse after a brief swing through the Halliburton accounts?

Enquiring minds want to know....

[0007]

24. This putrid reptile

with a long scaly tail, with a name like sneaky dickie. I'll never forget his statement to the freepers when cheney announced he was running with junior as VP. "....and we're loaded for bear" The freepers went absolutely bananas.

Can't wait to throw that statement back into the freepers face when this dickhead falls on his long scaly tail.

[Beetwasher]

2. Bring It Frank!!!

WooHooo!!! Turn up the heat brother!!!

[The Magistrate]

3. Abd We Can Ask A Second Question As Well...

How much of the money in this reptile's pockets came from Hussein himself, when Halliburton was doing business in Iraq before the war?

[Cappurr]

7. And don't forget Iran

just a few years ago when it was illegal to deal with Iran.

[salin]

10. I have read how they skirted law (buying Dresser,

of the asbestos liability, in order for the French subsidiary to do the Iraq business) in Iraq, but had not heard of them doing business in Iran. Was it also through Dresser or another subsidiary?

[denverbill]

4. Yeah, give them to charity and take a fat tax deduction. Asshole.

How much is that fat old tax deduction going to profit Dickless anyway?

[gristy]

5. Define "charity"

He has pledged to give after-tax proceeds of the stock options to charity.

[niceypoo]

18. So if Ken Lay promises to give his stolen $$ to charity

Does he get off the hook too?

[xchrom]

6. happy to see you magsitrate!

i saw the interview with cheney -- and once again became disgusted with the obvious lies, iraq=terrorism, saddam=wmd, cheney +haliburton = clean slate....
the republican party has become an insidious disease.

[Democat]

8. Cheney and Powell, both caught lying

Imagine if they were Democrats, the media and the congress and sentate would be all attacks all the time.

[dennis4868]

15. Hey....

If it was Clinton and Gore they would have ALREADY BEEN IMPEACHED and probably behind bars....seriously! The media and the repubs would not have allowed them to get away with all the lies that has led to so many deaths and cost us billions of dollars!

[cthrumatrix]

9. He lied....he owns thousands of options which are money...case closed

He should be removed from office for the Hailliburton conflict of interest.

[dusty64]

11. kick.

x

[cliss]

12. Wow, thanks for pointing that out,

fellow DU:ers. I wasn't aware that our ole boy was THAT deep in the morass. These guys are obviously MUCH worse than I ever dreamed possible.

[dusty64]

13. Can you imagine the

media saturation if this story were about Gore or our future Democratic VP.

[Flubadubya]

14. If just for once something would stick...

Extremely doubtful though. If you saw the 60 Minutes story on this last Sunday, you may recall that they said these guys are in such positions of power that they have actually re-legislated the laws to make all their "shady" transactions and dealings (which were once considered illegal) now legal.

So, since they have covered all their bases, it is hard to see how they could actually be held legally responsible. No problem when you make the rules... i.e. The Golden Rule... them that's got the gold make the rules.

[rocktivity]

16. Why Cheney is being ethically incorrect should be obvious

Insurance policy or not, he still has a direct interest in making sure that Halliburton stays in business.

A more pressing issue the exact nature of the compensation. Was it the result of a contract settlement, in which case he should have taken his money in a lump sum? Or is it a consulting fee in disguise, in which case he is technically still on the Halliburton payroll?


rocknation

[catmandu57]

17. Same old problem though,

chaindrive could strangle a prostitute at high noon in times square in front of ten thousand eye witnesses and go scot free. Why?, because they own the government, and there is no way in heaven, or hell that this monster is ever going to pay for it's crimes.

[Bandit]

19. Are there any laws prohibiting a VP or President from getting a job

with a company (after their term is over)that received no-bid contracts from the government. I know there are laws prohibiting a lawmaker from lobbying for a year but what about a VP or President. I am of the mind that Cheney will go right back to his old position after he leaves office. If there are no laws against such there certainly should be.

[JM]

20. My questions for Dick...

1) Did the agreement to take options and deferred payments include the option to take lump sum payments versus payments over time?
2) If the answer to #1 is yes, then why did you opt to take payments over time?
3) It has been reported you have taken insurance against your deferred salary. If true, when did you purchase the policy relative to the filing of asbestos lawsuits against Halliburton?

Later,
JM

[Emboldened Chimp]

21. Cheney has 433,000 shares

From CNN Money:

"The report says that the deferred compensation that Cheney receives from Halliburton as well as the more than 433,000 stock options he possesses "is considered among the 'ties' retained in or 'linkages to former employers' that may 'represent a continuing financial interest' in those employers which makes them potential conflicts of interest."

http://money.cnn.com/2003/09/25/news/companies/cheney/

Let's do some simple math, shall we? On Sept. 25, 2002, shares of Halliburton were 13.00. Today they're worth 24.72 (as of this writing). So, a year ago, his options were worth roughly $5,629,000. Today they're worth roughly $10,703,000. That's over a 100% increase in value.

Not bad, Dick. Not bad.

[The Magistrate]

23. Perhaps, Sir

The charity envisioned for this grand largesse is a retirement fund for feeble executives who have held office as Republicans....

[onehandle]

22. Different article on this...

Newer and different info...

http://www.washingtonpost.com/wp-dyn/articles/A2233-2003Sep25.html

[0007]

25. Washington Post down

while they make a few repairs.

[The Magistrate]

26. Perhaps It Will Be Fixed Soon, Sir