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- GrayBeard - 06-11-2004 01:30 PM
![[Image: r2323246920.jpg]](http://us.news1.yimg.com/us.yimg.com/p/rids/20040611/i/r2323246920.jpg)
Happy Days, Happy Days....Huh?
- MaumeeRocket - 06-11-2004 01:40 PM
GrayBeard Wrote:A waffler, porno star, and a failure. The heart of the democrat party.
Happy Days, Happy Days....Huh?
- MAKO - 06-11-2004 07:54 PM
I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.
- MaumeeRocket - 06-11-2004 08:14 PM
MAKO Wrote:I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.That just proves the moral compass of the dim party.
- Schadenfreude - 06-11-2004 09:16 PM
MaumeeRocket Wrote:MAKO Wrote:I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.That just proves the moral compass of the dim party.
George W. Bush's morality at work:
People like to assume that George got rich from oil speculation. It's a simpler and more inspiring explanation than the truth. He did launch an oil business, Arbusto Energy, in 1978. But it was a financial disaster from the very beginning and never turned a profit. Fortuitously, it got swallowed up in a 1982 merger with another energy company named Spectrum 7. The merger was engineered by a couple of Bush family friends. For some reason they opted to rescue the son of the Vice President of the United States from his own financial catastrophe and make him the CEO of the merged entity.
Four years later, Spectrum 7 was itself floundering underneath $3 million in debt. Which is when Harken Energy, yet another company run by a family friend, came in and bailed out Bush's enterprise a second time. George was given a fat wad of stock options and a $120,000 annual salary, but no actual work to do.
Technically, Bush's official capacity was as a member of the company's audit committee, charged with overseeing the major deals and transactions to ensure that everything was on the up-and-up. But as the son of the U.S. President, Bush's true function was to act as a lure for investment money. His task was schmoozing business contacts and outside investors, interested in converting cash into a friendly acquaintanceship with the President's offspring. And he was good at it. Hi, my name is George Jr. My Daddy lives in the White House. Let me show you around.
This investment capital really helped prop up Harken as it was secretly bleeding money out of every orifice. As a matter of fact, Harken was hiding massive debts through shell companies and byzantine practices masterminded by the now-infamous accounting firm of Arthur Anderson. One such deal was the putative "sale" of Aloha Petroleum to Intercontinental Mining and Resources Ltd in 1989. In actuality, IMR Ltd was just another company owned by three members of Harken's board. And the terms of the sale were extremely sketchy: although IMR agreed to pay an exorbitant $12 million for Aloha Petroleum, they wouldn't be required to make any payments for three years. Nevertheless, Harken immediately booked an $8 million profit.
The technical term for that is fraud. But you can't really blame George for that, can you? It wasn't like he was serving on the corporation's audit committee or anything... oh wait, he was. In fact, Bush signed off on the Aloha Petroleum deal. This deception helped maintain the illusion that Harken was -- what's the word? -- solvent for several months after it had actually run out of money.
A few weeks before the house of cards finally came tumbling down, Bush engaged in a little insider trading and sold off $848,560 in Harken stock. Then he waited eight months to notify the SEC of his sale. After Harken's stock price fell into the toilet, the SEC finally figured out something was wrong and began poking around. At which point, George offered up this lame excuse:
"In the corporate world, sometimes things aren't exactly black and white when it comes to accounting procedures."
But George's daddy was still President of the United States, and the SEC headed by Bush family friends, so they took no action.
(Link posted in another thread).
- Skipuno - 06-11-2004 09:51 PM
MAKO Wrote:I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.Wow thats no suprise, I bet you would take Ralf Nader or even the cpusa canadate over him. :D
- Rebel - 06-11-2004 10:03 PM
Would you people please stop referring to Bush's father as the "Vice President" when referring to something that happened prior to '81? Thanks.
Just a request from Rebelkev the normal poster, not Rebelkev the Admin.
If you don't, fine. I just don't think it's relevant and think it is a distortion to the greatest extent. It wasn't uncommon for people to fail in the 70's. We had an oil embargo going on. I am not sure what capacity his company worked at. If they were the producers, they should have cashed in. If they relied on the Middle East, well, they were doomed to fail to begin with.
- sherman&grant - 06-11-2004 10:12 PM
MAKO Wrote:I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.I'd love to know how a guy like you defines "coward." You throw that around like you are entitled to some moral high ground on this entire brave/coward identification. Give us the pre-requisites on this courage thing, and of course, fill us in on your credentials to render opinions on the subject.
- Rebel - 06-11-2004 10:17 PM
sherman&grant Wrote:I agree. If anyone is a coward it is Bill Clinton. He's the one that dodged the draft, yet sent soldiers to Bosnia-Herzegovina and Kosovo......which was illegal according to the U.N.(like I care, but just pointing out the hypocrisy).MAKO Wrote:I'll take an old man that gets b.j's from 20 year old girls, presides over the longest and largest expansion in the nation's history, and wipes out the Reagan deficit any day over a coward that brags about how little he studied in college.I'd love to know how a guy like you defines "coward." You throw that around like you are entitled to some moral high ground on this entire brave/coward identification. Give us the pre-requisites on this courage thing, and of course, fill us in on your credentials to render opinions on the subject.
- Schadenfreude - 06-11-2004 11:26 PM
RebelKev Wrote:Would you people please stop referring to Bush's father as the "Vice President" when referring to something that happened prior to '81? Thanks.I think you are missing the point. Let me simplifed.
Just a request from Rebelkev the normal poster, not Rebelkev the Admin.
If you don't, fine. I just don't think it's relevant and think it is a distortion to the greatest extent. It wasn't uncommon for people to fail in the 70's. We had an oil embargo going on. I am not sure what capacity his company worked at. If they were the producers, they should have cashed in. If they relied on the Middle East, well, they were doomed to fail to begin with.
After getting bailed out by his wealthy friends after a couple of his businesses went bust, Bush found himself in another failing company -- Harken -- as a member of the company's audit committee.
As a member of that audit committee, George W. Bush signed off on an Enron-like shell game that booked profits that didn't actually exist.
Then, with the company collapsing around him, George W. decided to leave other investors holding the bag by selling a massive amount of stock. He then broke SEC rules (designed to bring transparency to financial transactions) by waiting far too long to report it.
It smelled really, really bad. And, keep in mind, George W. was on the *audit* committee.
But the SEC didn't do anything.
After all, George W.'s dad was the vice president.