This is an article written in conjunction with the Nation
http://www.realnews.org/stories/2007-10-16_hillary.htmlby RUSS BAKER and ADAM FEDERMAN
Research support for this story was provided by the Investigative Fund of The Nation Institute. Published in conjunction with The Nation.
In the Clintons' pursuit of power, there is no such thing as a strange bedfellow. One recently exposed inamorata was Norman Hsu, the mysterious businessman from Hong Kong who brought in $850,000 to Hillary Clinton's campaign before being unmasked as a fugitive. Her campaign dismissed Hsu as someone who'd slipped through the cracks of an otherwise unimpeachable system for vetting donors, and perhaps he was. The same cannot be said for the notorious financier Alan Quasha, whose involvement with Clinton is at least as substantial--and still under wraps.
Political junkies will recall Quasha as the controversial figure who bailed out George W. Bush's failing oil company in 1986, folding Bush into his company, Harken Energy, thus setting him on the path to a lucrative and high-profile position as an owner of the Texas Rangers baseball team, and the presidency. The persistently unprofitable Harken--many of whose board members, connected to powerful foreign interests and the intelligence community, nevertheless profited enormously--faced intense scrutiny in the early 1990s and again during Bush's first term.
Now Quasha is back--on the other side of the aisle. Operating below the radar, he entered Hillary Clinton's circle even before she declared her candidacy by quietly arranging for the hire of Clinton confidant and longtime Democratic Party money man Terry McAuliffe at one of his companies. During the interregnum between McAuliffe's chairmanship of the Democratic Party and the time he officially joined Clinton's campaign, Quasha's firm set McAuliffe up with a salary and opened a Washington office for him.
Just a few years earlier, McAuliffe had publicly criticized Bush for his financial dealings with Harken, disparaging the company's Enron-like accounting. Yet in 2005 McAuliffe accepted this cushy perch with Quasha's newly acquired investment firm, Carret Asset Management, and even brought along former Clinton White House business liaison Peter O'Keefe, who had been his senior aide at the Democratic National Committee. McAuliffe remained with the company until he became national chair of Hillary's presidential bid, and O'Keefe never left. McAuliffe's connection to Quasha has, until now, never been noted.
In 2005, while McAuliffe was on his payroll, Quasha traveled to Bermuda to speak at the MARHedge World Wealth Summit, which addressed the topic "Hedge Fund Management in a Perilous Investment Climate." McAuliffe, too, weighed in on the well-being of hedge funds as the featured speaker at a 2006 investors' conference of the Carret unit Brean Murray, Carret & Co., where, according to advance publicity material, he planned to address the "current political debate in Washington, DC and its impact on Wall Street and the status of potential further hedge fund regulation." Also indicative of an interest in influencing hedge fund policy is the presence on Carret's International Advisory Board of Philippa Malmgren, who served as George W. Bush's liaison to the financial markets, and who often speaks and writes on politics and policy related to hedge funds.
....
According to the Center for Responsive Politics, Hillary Clinton, whose daughter, Chelsea, works for a hedge fund run by a prominent Democratic donor--came in second only to Joe Lieberman in cash raised from hedge fund managers during the 2006 election cycle. She has belatedly and reluctantly joined other presidential candidates in calling for a change in the law so that fund managers would pay taxes at the same rate as everybody else. Clearly, her supporters among hedge fund figures have much to gain by electing a President who feels Wall Street's pain.
Whatever Carret's overall objectives, the company is on the march. "We've taken the Brean Murray and the Carret platforms and expanded them into China, India, Eastern Europe and Russia, and we will be doing so in Latin America as well," Nemazee said in a 2006 interview with Leaders magazine.
While Quasha & Co. keep an eye on hedge fund regulation, they also appear to be helping the repressive Chinese government keep an eye on its own people. Brean Murray, Carret recently acted as the sole placement agent in an $8 million deal with the Shenzhen-based China Security and Surveillance Technology. China Security won a contract last year from the quasi-governmental Shenzhen Cyber Café Association to install video monitoring systems for more than 1,000 local Internet cafes, popular outlets for criticism of the regime. A Brean Murray, Carret press release celebrates its cooperation with the clampdown: "the estimated 2.19 million registered entertainment halls in China must purchase video-monitoring systems covering entrances, exits and main corridors. The Company is actively pursuing similar opportunities within the other provinces of China."
read more at link.
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Whoever we nominate, please don't expect huge changes for the better if this is what goes down. Is anything really going to change if Clinton becomes President? It's articles like these that make you wonder.
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