CelestialBody
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Just cause I haven't done a C & P in a while...
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SINthysist
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Global Crossing
Remember, as I have said before, the news industry needs scandals, revelations, excitement to get viewers. The Democrats simply by thier nature are prone to scandal. I should cut and paste Terry McAulife's remarks about his profits being Capitalism and if you don't like that, move to Cuba, and then contrast him with his remarks about Enron.
As to business making out, there is a phrase that describes our political system, "To the victor goes the spoils." When you dems have the power, you give just as much, maybe even more to the mooching masses who vote for your Robinhood approach to government.
Remember, as I have said before, the news industry needs scandals, revelations, excitement to get viewers. The Democrats simply by thier nature are prone to scandal. I should cut and paste Terry McAulife's remarks about his profits being Capitalism and if you don't like that, move to Cuba, and then contrast him with his remarks about Enron.
As to business making out, there is a phrase that describes our political system, "To the victor goes the spoils." When you dems have the power, you give just as much, maybe even more to the mooching masses who vote for your Robinhood approach to government.
CelestialBody
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CelestialBody
Starlet of India
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SINthysist
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If it's C&P you want
Monday, Feb. 11, 2002
Robert Rubin, the Dems' $40 Million Friend of Enron
Citigroup is paying Enron pal and former Clinton Treasury Secretary Robert Rubin a whopping $40 million a year to "advise on strategy" - while he continues to help Democrats undermine President Bush, the New York Times reported today.
The Democrats' involvement in the Enron scandal is stinking to such a point that even the Times, whose editorials and news articles appear much of the time to be press releases from the Democratic National Committee, has finally published something of a counterpoint to its anti-Bush rantings.
In a generally gushy account of Rubin - "an overpowering intellect," "the economic conscience of the Clinton administration" (!) - the Times is forced to admit:
Rubin did indeed call the Treasury Department last fall but failed to bully the Bush administration into intervening for Citigroup client Enron, giving "comfort to the White House and to some conservative commentators, who said it was evidence that it was a prominent Democrat, not Republicans, who backed a government rescue."
The Enron stink won't go away soon. Even a Rubin friend, financier Felix G. Rohatyn, admits "the impression is not great when it [Rubin's intervention] is on behalf of a company that has created the worst profile in the history of capitalism."
Rubin "was a sounding board for Gov. Gray Davis of California during last summer's electricity crisis even as Citigroup worked for energy companies that were selling power to the state." The "conflicts were obvious," the Times confesses.
Typical of the Clinton administration, Rubin had, and continues, close ties with the communist Chinese dictatorship. "As hosts of last fall's Asia Pacific Economic Cooperation forum, the Chinese pointedly invited Mr. Rubin to introduce President Bush — an 'old friend' presenting a president still untested in Chinese eyes."
The justification for Rubin's mind-boggling pay is murky. "He is involved in everything and nothing," the Times reports. Chuck Prince, Citigroup's chief operating officer, actually says, "He decides what he's interested in and has a way of drawing the company toward that."
Rubin "runs a nonstop tutorial on economic policy" for Democrats, coaching obstructionist Senate plurality leader and Citigroup beneficiary Tom Daschle "and other leaders on ways to debunk Bush military spending and tax cuts."
The Times notes with amusement that "affronted" Citigroup clients have flooded brokers with "irate e-mails" about Rubin's campaign against President Bush's tax cuts and other policies.
Which brings up a good point - why should anyone who supports the president and tax cuts do business with Citigroup?
Monday, Feb. 11, 2002
Robert Rubin, the Dems' $40 Million Friend of Enron
Citigroup is paying Enron pal and former Clinton Treasury Secretary Robert Rubin a whopping $40 million a year to "advise on strategy" - while he continues to help Democrats undermine President Bush, the New York Times reported today.
The Democrats' involvement in the Enron scandal is stinking to such a point that even the Times, whose editorials and news articles appear much of the time to be press releases from the Democratic National Committee, has finally published something of a counterpoint to its anti-Bush rantings.
In a generally gushy account of Rubin - "an overpowering intellect," "the economic conscience of the Clinton administration" (!) - the Times is forced to admit:
Rubin did indeed call the Treasury Department last fall but failed to bully the Bush administration into intervening for Citigroup client Enron, giving "comfort to the White House and to some conservative commentators, who said it was evidence that it was a prominent Democrat, not Republicans, who backed a government rescue."
The Enron stink won't go away soon. Even a Rubin friend, financier Felix G. Rohatyn, admits "the impression is not great when it [Rubin's intervention] is on behalf of a company that has created the worst profile in the history of capitalism."
Rubin "was a sounding board for Gov. Gray Davis of California during last summer's electricity crisis even as Citigroup worked for energy companies that were selling power to the state." The "conflicts were obvious," the Times confesses.
Typical of the Clinton administration, Rubin had, and continues, close ties with the communist Chinese dictatorship. "As hosts of last fall's Asia Pacific Economic Cooperation forum, the Chinese pointedly invited Mr. Rubin to introduce President Bush — an 'old friend' presenting a president still untested in Chinese eyes."
The justification for Rubin's mind-boggling pay is murky. "He is involved in everything and nothing," the Times reports. Chuck Prince, Citigroup's chief operating officer, actually says, "He decides what he's interested in and has a way of drawing the company toward that."
Rubin "runs a nonstop tutorial on economic policy" for Democrats, coaching obstructionist Senate plurality leader and Citigroup beneficiary Tom Daschle "and other leaders on ways to debunk Bush military spending and tax cuts."
The Times notes with amusement that "affronted" Citigroup clients have flooded brokers with "irate e-mails" about Rubin's campaign against President Bush's tax cuts and other policies.
Which brings up a good point - why should anyone who supports the president and tax cuts do business with Citigroup?
SINthysist
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As for the rest
"The mooching masses...is that your way of referring to the general public?"
The Democratic constituency...
"I'm confused, are you sanctioning the business practices of Enron?"
Absolutely not. What I refuse to do however is condone hypocracy. The scandal is rooted in the Clinton Administration, but Tom Dashle doesn't want to get to the truth, just the president. Now if Democrats were to go for it and let the chips fall where they may...
Have accounting practices gotten out of hand? Possibly. I am no expert, but it sure sounds like a lot of people need to have thier feet put to the fire. Insider trading? Most certainly, which is illegal. The sort of think that allowed Hillary to make a killing in cattle futures and Terry C's 100K into what 3, 30 million.
But you probably feel that it levels the playing field to hold conservatives to a higher standard.
"The mooching masses...is that your way of referring to the general public?"
The Democratic constituency...
"I'm confused, are you sanctioning the business practices of Enron?"
Absolutely not. What I refuse to do however is condone hypocracy. The scandal is rooted in the Clinton Administration, but Tom Dashle doesn't want to get to the truth, just the president. Now if Democrats were to go for it and let the chips fall where they may...
Have accounting practices gotten out of hand? Possibly. I am no expert, but it sure sounds like a lot of people need to have thier feet put to the fire. Insider trading? Most certainly, which is illegal. The sort of think that allowed Hillary to make a killing in cattle futures and Terry C's 100K into what 3, 30 million.
But you probably feel that it levels the playing field to hold conservatives to a higher standard.
SINthysist
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I can get lots more of this stuff
Tuesday, Feb. 12, 2002 9:53 a.m. EST
Report Confirms Tripp's Charge: Bill & Hill Looted White House
A yearlong investigation by the House Government Reform and Oversight Committee has confirmed the account of former White House whistleblower Linda Tripp, who alleged last February that Bill and Hillary Clinton tried to hide hundreds of thousands of dollars worth of gifts they'd received, many of which were not reported as required by law.
A report set for release today by committee member Rep. Doud Ose, (R-Calif., says the Clintons accepted $361,968 in unrecorded gifts worth more than $250 - the threshold above which reporting is legally required.
House hearings into the Clinton gift scandal are set to commence today, even as most reporters focus on what promises to be an unproductive Senate hearing into Enron, where the company's former CEO Ken Lay is expected to take the Fifth.
Previously unknown gifts accepted by the Clintons include Ming Dynasty jewelry, Ferragamo silk ties, hundreds of cigars, expensive watches and "shares of a well-known company stock," according to the New York Post.
In some cases, the Clintons are accused of undervaluing some of the loot in order to deliberately evade the $250 limit. In other cases, gifts simply weren't reported at all.
In February 2001 Clinton White House whistleblower Linda Tripp told CNN that the former first couple set out to evade White House gift laws from the very beginning of their tenure in 1993.
"Gifts were coming in from everywhere," Tripp said. "I was brought in, because of my institutional memory and my knowledge of procedure. I'm filling out the gift unit form ... and they didn't want any part of that."
Tripp said that procedure required that gifts to the first couple go directly to the White House "Gift Unit." But in the Clintons' case, that didn't happen.
One room in the White House "was floor to ceiling stacked with gifts," she recalled. "In the Clinton White House ... most of it didn't make it to the gift unit."
"I know on many occasions [the gifts] went to them," Tripp added.
The former Bush White House employee said top Clinton aide Bruce Lindsey ordered her to nix the gift-recording procedure with the words, "Take off your Bush hat. This is the Clinton White House."
Tuesday, Feb. 12, 2002 9:53 a.m. EST
Report Confirms Tripp's Charge: Bill & Hill Looted White House
A yearlong investigation by the House Government Reform and Oversight Committee has confirmed the account of former White House whistleblower Linda Tripp, who alleged last February that Bill and Hillary Clinton tried to hide hundreds of thousands of dollars worth of gifts they'd received, many of which were not reported as required by law.
A report set for release today by committee member Rep. Doud Ose, (R-Calif., says the Clintons accepted $361,968 in unrecorded gifts worth more than $250 - the threshold above which reporting is legally required.
House hearings into the Clinton gift scandal are set to commence today, even as most reporters focus on what promises to be an unproductive Senate hearing into Enron, where the company's former CEO Ken Lay is expected to take the Fifth.
Previously unknown gifts accepted by the Clintons include Ming Dynasty jewelry, Ferragamo silk ties, hundreds of cigars, expensive watches and "shares of a well-known company stock," according to the New York Post.
In some cases, the Clintons are accused of undervaluing some of the loot in order to deliberately evade the $250 limit. In other cases, gifts simply weren't reported at all.
In February 2001 Clinton White House whistleblower Linda Tripp told CNN that the former first couple set out to evade White House gift laws from the very beginning of their tenure in 1993.
"Gifts were coming in from everywhere," Tripp said. "I was brought in, because of my institutional memory and my knowledge of procedure. I'm filling out the gift unit form ... and they didn't want any part of that."
Tripp said that procedure required that gifts to the first couple go directly to the White House "Gift Unit." But in the Clintons' case, that didn't happen.
One room in the White House "was floor to ceiling stacked with gifts," she recalled. "In the Clinton White House ... most of it didn't make it to the gift unit."
"I know on many occasions [the gifts] went to them," Tripp added.
The former Bush White House employee said top Clinton aide Bruce Lindsey ordered her to nix the gift-recording procedure with the words, "Take off your Bush hat. This is the Clinton White House."
CelestialBody
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Syn-where's your article from?
SINthysist
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How's this one?
Wes Vernon, NewsMax.com
Tuesday, Feb. 12, 2002
WASHINGTON – The mostly Democrat cash cow involving bankrupt Global Crossing has also netted cash for the anti-Bush Republican who has built a "reform” crusade that leaves the impression he thinks nearly everyone except himself is unethical.
The Washington Times on Monday printed an outline of how the telecommunications giant dispensed its campaign largesse. Of the five top Senate recipients, the No. 1 beneficiary was none other than the Democrat-like Sen. John McCain, R-Ariz., Mr. Campaign Finance "Reform" himself, who appears not to care that his campaign proposals would stifle free speech and empower pro-Democrat unions and media at the expense of Republicans.
Here the lawmaker who was once taken to task on the Senate floor for impugning the ethical sensitivity of his colleagues is found to have taken more money than any other senator from a company that:
Like Enron, blocked trading in employees’ 401 (k) plans while changing administrators.
Like Enron, has been accused of inflating its worth on balance sheets.
Like Enron, got a clean bill of health from the Arthur Andersen accounting firm.
Citing the Center for Responsive Politics, the Times says that from 1997 to 2001, McCain got $31,000 from the Global Crossing PAC and individual contributors.
Right behind him is Sen. Conrad Burns, R-Mont., at $30,750. The other three senators in the top five are Democrats: $24,000 for Dianne Feinstein of California, and $20,000 each for Edward Kennedy John Kerry, both of Massachusetts.
Although Democrats did only slightly better than Republicans in the Senate listings, they left their GOP counterparts in the dust among the top five House recipients of Global Crossing cash, $31,750 vs. $8,000. And bear in mind, the Republicans have a majority in the House.
Also don’t forget that Judicial Watch investigators are still working to see if one can connect the dots on a Global Crossing gift to the Clinton Presidential Library, a Pentagon contract in the Clinton administration, and Democrat national chairman Terry McAuliffe’s astonishing 18,000 percent profit of $18 million on a $100,000 investment in Global Crossing.
It is only fair to mention, of course, that taking campaign cash from a company that went bankrupt under suspicious circumstances does not make the recipient corrupt.
Blatant Media Bias and Hypocrisy
The point is that the political flak over Enron is driven by many of the same people who are hip-deep in Global Crossing cash. The media establishment is all over the Enron story, but with notable exceptions, the mainstream news outlets have been hushing up Global Crossing. Why?
And media watchers want to know why it is that what TV talk host Bill O’Reilly has called "the pinhead press” was nagging President Bush for not mentioning Enron in his State of the Union address, and yet these same media mavens do not nag the top official of the Democrat party about his direct link to Global Crossing.
As Jim Grisham, producer of Sean Hannity’s radio talk show, noted in an e-mail: "Where is Terry? Start checking milk cartons.”
As for McCain, his answer to those questioning such campaign gifts in the past has been that he’s only playing by the rules. He says he doesn’t like those rules, which is why he wants to change them, but to refrain from taking advantage of current rules would force him to campaign with one hand tied behind his back.
While that argument may have a certain cachet of logic about it, some observers believe it is also tinged with irony: "Stop me before I take more!”
Boon for McCain and Other Incumbents
Moreover, it ignores the plain fact that the senator’s anti-First Amendment bill, by cutting off soft-money ads within 60 days of a general election, would force non-incumbents with lower name recognition to campaign with one hand tied behind their backs. All the lawmakers voting on that measure, of course, happen to be incumbents.
The Washington Times also published a breakdown of Global Crossing executives’ campaign contributions in 1999-2000, as derived from records of the Federal Election Commission. Of the $102,000 attributed to the Democrats, $40,000 of it went to an entity called Committee for a Democratic Majority.
A spokesman for that group told NewsMax.com that this is Sen. Kennedy’s organization, "which works to elect Democratic majorities in the Senate and in the House,” and accepts hard and soft money.
Eight Global Crossing executives contributed $5,000 each to this one group. Only one similar donation shows up in the GOP column. And that is a single $10,000 to the Republican National Committee. Most of the other donations in both parties were for individuals.
Forty thousand dollars as against $10,000. That suggests that while Global Crossing was careful to cover its bases in both camps, its political heart, backed by megabucks, was with the Democrat party.
This is the same Democrat party, remember, whose operatives – the Carvilles, the Shrums, and the McAuliffes – have been working round the clock, so far without success, to tie President Bush to Enron’s troubles.
The powerful liberal media can ignore this story all they want. NewsMax.com will see to it that the scandal does not go away.
Wes Vernon, NewsMax.com
Tuesday, Feb. 12, 2002
WASHINGTON – The mostly Democrat cash cow involving bankrupt Global Crossing has also netted cash for the anti-Bush Republican who has built a "reform” crusade that leaves the impression he thinks nearly everyone except himself is unethical.
The Washington Times on Monday printed an outline of how the telecommunications giant dispensed its campaign largesse. Of the five top Senate recipients, the No. 1 beneficiary was none other than the Democrat-like Sen. John McCain, R-Ariz., Mr. Campaign Finance "Reform" himself, who appears not to care that his campaign proposals would stifle free speech and empower pro-Democrat unions and media at the expense of Republicans.
Here the lawmaker who was once taken to task on the Senate floor for impugning the ethical sensitivity of his colleagues is found to have taken more money than any other senator from a company that:
Like Enron, blocked trading in employees’ 401 (k) plans while changing administrators.
Like Enron, has been accused of inflating its worth on balance sheets.
Like Enron, got a clean bill of health from the Arthur Andersen accounting firm.
Citing the Center for Responsive Politics, the Times says that from 1997 to 2001, McCain got $31,000 from the Global Crossing PAC and individual contributors.
Right behind him is Sen. Conrad Burns, R-Mont., at $30,750. The other three senators in the top five are Democrats: $24,000 for Dianne Feinstein of California, and $20,000 each for Edward Kennedy John Kerry, both of Massachusetts.
Although Democrats did only slightly better than Republicans in the Senate listings, they left their GOP counterparts in the dust among the top five House recipients of Global Crossing cash, $31,750 vs. $8,000. And bear in mind, the Republicans have a majority in the House.
Also don’t forget that Judicial Watch investigators are still working to see if one can connect the dots on a Global Crossing gift to the Clinton Presidential Library, a Pentagon contract in the Clinton administration, and Democrat national chairman Terry McAuliffe’s astonishing 18,000 percent profit of $18 million on a $100,000 investment in Global Crossing.
It is only fair to mention, of course, that taking campaign cash from a company that went bankrupt under suspicious circumstances does not make the recipient corrupt.
Blatant Media Bias and Hypocrisy
The point is that the political flak over Enron is driven by many of the same people who are hip-deep in Global Crossing cash. The media establishment is all over the Enron story, but with notable exceptions, the mainstream news outlets have been hushing up Global Crossing. Why?
And media watchers want to know why it is that what TV talk host Bill O’Reilly has called "the pinhead press” was nagging President Bush for not mentioning Enron in his State of the Union address, and yet these same media mavens do not nag the top official of the Democrat party about his direct link to Global Crossing.
As Jim Grisham, producer of Sean Hannity’s radio talk show, noted in an e-mail: "Where is Terry? Start checking milk cartons.”
As for McCain, his answer to those questioning such campaign gifts in the past has been that he’s only playing by the rules. He says he doesn’t like those rules, which is why he wants to change them, but to refrain from taking advantage of current rules would force him to campaign with one hand tied behind his back.
While that argument may have a certain cachet of logic about it, some observers believe it is also tinged with irony: "Stop me before I take more!”
Boon for McCain and Other Incumbents
Moreover, it ignores the plain fact that the senator’s anti-First Amendment bill, by cutting off soft-money ads within 60 days of a general election, would force non-incumbents with lower name recognition to campaign with one hand tied behind their backs. All the lawmakers voting on that measure, of course, happen to be incumbents.
The Washington Times also published a breakdown of Global Crossing executives’ campaign contributions in 1999-2000, as derived from records of the Federal Election Commission. Of the $102,000 attributed to the Democrats, $40,000 of it went to an entity called Committee for a Democratic Majority.
A spokesman for that group told NewsMax.com that this is Sen. Kennedy’s organization, "which works to elect Democratic majorities in the Senate and in the House,” and accepts hard and soft money.
Eight Global Crossing executives contributed $5,000 each to this one group. Only one similar donation shows up in the GOP column. And that is a single $10,000 to the Republican National Committee. Most of the other donations in both parties were for individuals.
Forty thousand dollars as against $10,000. That suggests that while Global Crossing was careful to cover its bases in both camps, its political heart, backed by megabucks, was with the Democrat party.
This is the same Democrat party, remember, whose operatives – the Carvilles, the Shrums, and the McAuliffes – have been working round the clock, so far without success, to tie President Bush to Enron’s troubles.
The powerful liberal media can ignore this story all they want. NewsMax.com will see to it that the scandal does not go away.
CelestialBody
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Campaign Finance Reform
SINthysist
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As long as I'm at it
Wednesday, Jan. 30, 2002 10:29 a.m. EST
McAuliffe: My Stock Killing Critics Should 'Move to Cuba'
Democratic National Committee Chairman Terry McAuliffe said Tuesday he's happy he made millions on his relatively tiny investment in telecommunications giant Global Crossing before the company went belly-up this week, saying that those who don't like it should "move to Cuba or China."
"I invested in many companies, and I'm happy this one worked," the leading Enrongate critic explained to Fox News Channel's Shepard Smith.
Sounding like a born-again disciple of the free market, McAuliffe then told his critics to take a hike.
"This is capitalism. You invest in stock, it goes up, it goes down. You know, if you don't like capitalism, you don't like making money with stock, move to Cuba or China."
After investing a mere $100,000, Global Crossing's stock run-up netted the DNC chief a cool $18 million. But while McAuliffe got out while the getting was good, the vast majority of GC shareholders were wiped out.
The leading Democrat was a whole lot less cavalier when it came to the Enron collapse.
"The people out there who are hurt the most are the small people, and once again the wealthy special interests got to take their money off the table, and that's what we need to investigate," McAuliffe told CNN last week.
Wednesday, Jan. 30, 2002 10:29 a.m. EST
McAuliffe: My Stock Killing Critics Should 'Move to Cuba'
Democratic National Committee Chairman Terry McAuliffe said Tuesday he's happy he made millions on his relatively tiny investment in telecommunications giant Global Crossing before the company went belly-up this week, saying that those who don't like it should "move to Cuba or China."
"I invested in many companies, and I'm happy this one worked," the leading Enrongate critic explained to Fox News Channel's Shepard Smith.
Sounding like a born-again disciple of the free market, McAuliffe then told his critics to take a hike.
"This is capitalism. You invest in stock, it goes up, it goes down. You know, if you don't like capitalism, you don't like making money with stock, move to Cuba or China."
After investing a mere $100,000, Global Crossing's stock run-up netted the DNC chief a cool $18 million. But while McAuliffe got out while the getting was good, the vast majority of GC shareholders were wiped out.
The leading Democrat was a whole lot less cavalier when it came to the Enron collapse.
"The people out there who are hurt the most are the small people, and once again the wealthy special interests got to take their money off the table, and that's what we need to investigate," McAuliffe told CNN last week.
SINthysist
Rural Racist Homophobe
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Good for Goose. Good for Gander.
Congress Poised to Probe Dems' Global Crossing Scandal
Wes Vernon, NewsMax.com
Saturday, Feb. 9, 2002
WASHINGTON – The Democrats, frustrated over their inability to tie the Enron garbage can to President Bush, may soon find themselves targeted by congressional scrutiny of a scandal reaching into the highest ranks of their own party. Furthermore, the case is developing a China connection that could threaten U.S. national security.
A veteran member of the House of Representatives told NewsMax.com on Thursday night that as soon as the House Commerce Committee is through probing Enron, the bankruptcy of telecommunications giant Global Crossing may well be next.
"They’re seriously considering it,” said the lawmaker, who did not wish to be identified.
The committee had not returned a call from NewsMax.com as of Friday night.
The mainstream media, for the most part, have been hushing up the juiciest parts of the Global Crossing debacle, the fourth largest bankruptcy in U.S. history.
Terry McAuliffe and Corporate Greed
This has all the indications of sleaze attributed to Enron, but with this difference. This time there is a questionable political connection that is real. It turns out that Democrat National Chairman Terry McAuliffe made an 18,000 percent profit from Global Crossing, turning a $100,000 stock investment into $18 million.
But there's more: McAuliffe took his money off the table just before the corporation went into the tank. Global Crossing employees and small shareholders and pensioners were left holding the bag.
That’s exactly what happened at Enron. The media are up in arms over Enron but strangely silent about the same script playing itself out at Global Crossing. That leads to a suspicion that Bill Clinton’s handpicked DNC chairman is getting the kid-gloves treatment because the liberal media, which can smell a Republican scandal (real or otherwise) halfway around the world, somehow lose their bloodhound instinct when tracking the suspicious dealings of Democrats.
So far it has been left to the public interest law firm Judicial Watch (JW) to begin the spadework that may lead to answers on the "political” work McAuliffe did for the telecom company, whose stock once surpassed that of General Motors. JW General Counsel Larry Klayman says this may be tied to a huge Pentagon contract and a $1 million donation to the Clinton Presidential Library.
And there’s more: The Global Crossing scandal involves Arthur Andersen, the same accounting giant that got a black eye with its handling of Enron.
Information that House probers are considering a look at Global Crossing comes hot on the heels of a revelation, confirmed to USA Today and other newspapers, that the FBI is investigating the Bermuda-based company, including its accounting practices. The bureau is cooperating with an investigation by the Securities and Exchange Commission.
The China Syndrome
And it turns out there is a Chinese connection to the Global Crossing scandal. As a part of its reorganization, the telecommunications company intends to sell a majority stake to two Asian companies. One of those has ties to the communist Chinese regime.
The company in question is none other than Hutchison Whampoa, controlled by Hong Kong billionaire Li Ka-shing. Recall this is the company whose subsidiaries, in recent years, moved into control of much of the commerce at both ends of the Panama Canal. That void was filled after the U.S. pulled out of the canal, thanks to a treaty whose ratification was rammed through the Senate in the 1970s by the Carter administration.
Rep. Dana Rohrabacher, R-Calif., is trying to block the sale. He says Li Ka-shing is part of the Chinese government’s inner circle.
In a statement Friday to NewsMax.com, the California lawmaker said he was concerned that "a front company for the Chinese communist leadership is now trying to take over a company that owns a significant part of the fiber optics network and may threaten the national security interests of the United States.”
He wants a congressional probe with a focus on the security angle, possibly separate and apart from any House Commerce investigation of the business angle.
When nailed for his cool $18 million windfall last week on Fox News Channel, McAuliffe evaded co-host Sean Hannity’s challenge to share some of the money with the less fortunate company employees and stockholders who lacked his political connections. The DNC boss’s sole defense is that he made the killing strictly through the good old capitalist system, which he has often criticized in the past.
As for the China connection, Global Crossing, which owns an undersea fiber optics network to more than 200 cities, says not to worry. Its networks would remain secure under any deal with Hutchison Whampoa.
"Right,” the skeptics scoff.
Congress Poised to Probe Dems' Global Crossing Scandal
Wes Vernon, NewsMax.com
Saturday, Feb. 9, 2002
WASHINGTON – The Democrats, frustrated over their inability to tie the Enron garbage can to President Bush, may soon find themselves targeted by congressional scrutiny of a scandal reaching into the highest ranks of their own party. Furthermore, the case is developing a China connection that could threaten U.S. national security.
A veteran member of the House of Representatives told NewsMax.com on Thursday night that as soon as the House Commerce Committee is through probing Enron, the bankruptcy of telecommunications giant Global Crossing may well be next.
"They’re seriously considering it,” said the lawmaker, who did not wish to be identified.
The committee had not returned a call from NewsMax.com as of Friday night.
The mainstream media, for the most part, have been hushing up the juiciest parts of the Global Crossing debacle, the fourth largest bankruptcy in U.S. history.
Terry McAuliffe and Corporate Greed
This has all the indications of sleaze attributed to Enron, but with this difference. This time there is a questionable political connection that is real. It turns out that Democrat National Chairman Terry McAuliffe made an 18,000 percent profit from Global Crossing, turning a $100,000 stock investment into $18 million.
But there's more: McAuliffe took his money off the table just before the corporation went into the tank. Global Crossing employees and small shareholders and pensioners were left holding the bag.
That’s exactly what happened at Enron. The media are up in arms over Enron but strangely silent about the same script playing itself out at Global Crossing. That leads to a suspicion that Bill Clinton’s handpicked DNC chairman is getting the kid-gloves treatment because the liberal media, which can smell a Republican scandal (real or otherwise) halfway around the world, somehow lose their bloodhound instinct when tracking the suspicious dealings of Democrats.
So far it has been left to the public interest law firm Judicial Watch (JW) to begin the spadework that may lead to answers on the "political” work McAuliffe did for the telecom company, whose stock once surpassed that of General Motors. JW General Counsel Larry Klayman says this may be tied to a huge Pentagon contract and a $1 million donation to the Clinton Presidential Library.
And there’s more: The Global Crossing scandal involves Arthur Andersen, the same accounting giant that got a black eye with its handling of Enron.
Information that House probers are considering a look at Global Crossing comes hot on the heels of a revelation, confirmed to USA Today and other newspapers, that the FBI is investigating the Bermuda-based company, including its accounting practices. The bureau is cooperating with an investigation by the Securities and Exchange Commission.
The China Syndrome
And it turns out there is a Chinese connection to the Global Crossing scandal. As a part of its reorganization, the telecommunications company intends to sell a majority stake to two Asian companies. One of those has ties to the communist Chinese regime.
The company in question is none other than Hutchison Whampoa, controlled by Hong Kong billionaire Li Ka-shing. Recall this is the company whose subsidiaries, in recent years, moved into control of much of the commerce at both ends of the Panama Canal. That void was filled after the U.S. pulled out of the canal, thanks to a treaty whose ratification was rammed through the Senate in the 1970s by the Carter administration.
Rep. Dana Rohrabacher, R-Calif., is trying to block the sale. He says Li Ka-shing is part of the Chinese government’s inner circle.
In a statement Friday to NewsMax.com, the California lawmaker said he was concerned that "a front company for the Chinese communist leadership is now trying to take over a company that owns a significant part of the fiber optics network and may threaten the national security interests of the United States.”
He wants a congressional probe with a focus on the security angle, possibly separate and apart from any House Commerce investigation of the business angle.
When nailed for his cool $18 million windfall last week on Fox News Channel, McAuliffe evaded co-host Sean Hannity’s challenge to share some of the money with the less fortunate company employees and stockholders who lacked his political connections. The DNC boss’s sole defense is that he made the killing strictly through the good old capitalist system, which he has often criticized in the past.
As for the China connection, Global Crossing, which owns an undersea fiber optics network to more than 200 cities, says not to worry. Its networks would remain secure under any deal with Hutchison Whampoa.
"Right,” the skeptics scoff.
CelestialBody
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SINthysist
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Campaign Finance Reform
Is a violation of Free Speech, political free speech, as protected in the constitution.
But it is the Democrats who want campaign finance reform because they have been beaten by the Republicans in the race to raise funds. This is one in which they [both sides] will vote something to look like they are against corruption knowing the Supreme Court will have a heart attack. The Democrats especially want the provision where you cannot run ads 30 days prior to an election so that thier lackeys, the Liberal media can get out thier message unfettered to the unlearned, mooching masses that they so appeal to.
There just screaming Republican to distract attention from thier own goals. Standard stuff from thier tired old playbook.
Is a violation of Free Speech, political free speech, as protected in the constitution.
But it is the Democrats who want campaign finance reform because they have been beaten by the Republicans in the race to raise funds. This is one in which they [both sides] will vote something to look like they are against corruption knowing the Supreme Court will have a heart attack. The Democrats especially want the provision where you cannot run ads 30 days prior to an election so that thier lackeys, the Liberal media can get out thier message unfettered to the unlearned, mooching masses that they so appeal to.
There just screaming Republican to distract attention from thier own goals. Standard stuff from thier tired old playbook.
SINthysist
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Oh jeez Cb
McCain's INSANE!
That's one cowpoke you don't want anywhere near the football. At least Shrub has self-control over his emotions. McCain, by all reports, can be a real "carpet-chewer."
McCain's INSANE!
That's one cowpoke you don't want anywhere near the football. At least Shrub has self-control over his emotions. McCain, by all reports, can be a real "carpet-chewer."
CelestialBody
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Last edited:
CelestialBody
Starlet of India
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Last edited:
SINthysist
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Hutchinson-Wampoa
The Chinese are preparing for war and we freakin' helped arm them! Should I cut and paste the article detailing that they have developed a multiple-head delivery system designed to defeat our proposed missle defense system. And these FOB's (Friends of Bill) were screaming the loudest that we threatened world peace by declaring that we would pursue missle defense.
The point being, one, that they were developing the missle first, and two, that Enron's problems are a speck in the eye. As long as Daschle & Co. are bound and determined to take Bush down AT ANY COST! the upstart is that by not focusing thier efforts on the security of the Republic, they greatly run the risk of costing us the Republic.
Enron did bad things. That is the purview of the SEC and Justice Department, not Tommy Vladimier Dashle.
Who, by the way is now hated as much as Gingrich was. Hmmmm...
The Chinese are preparing for war and we freakin' helped arm them! Should I cut and paste the article detailing that they have developed a multiple-head delivery system designed to defeat our proposed missle defense system. And these FOB's (Friends of Bill) were screaming the loudest that we threatened world peace by declaring that we would pursue missle defense.
The point being, one, that they were developing the missle first, and two, that Enron's problems are a speck in the eye. As long as Daschle & Co. are bound and determined to take Bush down AT ANY COST! the upstart is that by not focusing thier efforts on the security of the Republic, they greatly run the risk of costing us the Republic.
Enron did bad things. That is the purview of the SEC and Justice Department, not Tommy Vladimier Dashle.
Who, by the way is now hated as much as Gingrich was. Hmmmm...
CelestialBody
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SINthysist
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How quickly you forget
the power of the polls...
the power of the polls...
CelestialBody
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SINthysist
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I, too, look forward to the elections.
In Kansas, the Dem's are screaming bloddy murder because the republicans have gerrymandered thier three strong holds
.
Gives me a chance to say, I told you so...
In Kansas, the Dem's are screaming bloddy murder because the republicans have gerrymandered thier three strong holds
.Gives me a chance to say, I told you so...
M
miles
Guest
Perhaps the weakest thread I've seen in a long time.
Na-na-nana-na.
Na-na-nana-na.
SINthysist
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Wes Vernon, NewsMax.com
Saturday, Feb. 16, 2002
WASHINGTON – A top Clinton administration official, former Defense Secretary William Cohen, sits on the board of Global Crossing. This is the telecom giant that went belly up Jan. 28 in the fourth largest bankruptcy in U.S. history, leaving a trail of inflated revenues, top executives enriching themselves, employees and shareholders holding the bag, and Arthur Andersen acting as both consultant and auditor.
If this sounds familiar, it is because this is a replay of the Enron script. However, the Global Crossing scandal has direct political links, whereas unhappy Democrats have failed to find an improper Bush-Enron tie – though Bill Clinton pushed the economy-destroying Kyoto "global warming" treaty, rejected by the Senate 95-0, after Enron gave Democrats $420,000.
A Bigger Player Than Enron
Another curious fact revealed Friday, mentioned in passing by the Associated Press: Since 1999, when Global Crossing became a major campaign contributor, it has given nearly $3.5 million in political donations, more than the $2.9 million handed out by Enron and its executives in the same period. Of course, GC gave more to Democrats, so the media establishment isn't raising a fuss.
The New York Times on Thursday casually dropped into the middle of a story focused mainly on the business side of Global Crossing’s problem the fact that "Global Crossing, which has tried to forge close ties with military organizations, appointed William S. Cohen, a secretary of defense in the Clinton administration, to its board last year.”
Radio talk show hosts have previously mentioned this, although up until now no one has given the Cohen connection much scrutiny.
Now comes a story by the Washington Dispatch, called to our attention by a NewsMax reader.
Though the New York Times says the Global Crossing problems "have delayed the awarding of a prestigious $450 million contract to provide the Defense Department with fast Internet services connecting laboratories and other research locations around the country,” the Dispatch spotlights the fact that the contract in question (sidetracked by the Bush Defense Department) "was initially approved under Clinton.”
Mentioned by the Dispatch, but only hinted by the establishment New York Times, is that Cohen "could have been influential” in steering defense contracts to Global Crossing.
And the Associated Press reported Friday, "Even as Global's stock price was hovering just above $1 a share in December, the company's political action committee was giving $2,500 apiece to Democratic Sens. Tom Harkin of Iowa and Carl Levin of Michigan and $500 to Rep. Robert Ehrlich, R-Md."
Significantly, Levin is chairman of the Senate Armed Services Committee, and Global Crossing was after that $450 million contract, "rescinded last year amid complaints from competitors that the company may lack the ability to provide secure and fast Internet services and, in any event, should be ineligible because it is based in Bermuda." That's when GC hired a Washington law firm to lobby on defense issues and added Cohen to its board.
The New York Times fails to mention that Democrat national Chairman Terry McAuliffe made a profit of $18 million on an investment of $100,000 investment in Global Crossing. This 18,000 percent killing on the market has raised suspicions of "insider training,” according to Judicial Watch, the public interest law firm, which has launched its own probe.
(It should also be noted that former President George H.W. Bush received a reported $80,000 worth of Global stock options for a speech he made in Tokyo in 1997, a pittance compared to the lecture fees paid to Clinton. At one point, that holding did swell up to $14.4 million, according to the Wall Street Journal, but it is not known whether Bush sold the stock.)
The Times does say "questions” have been raised by a proposal by Hutchison Whampoa Ltd. of Hong Kong and a unit of Singapore Technologies to buy Global Crossing. However, the Old Gray Lady does not mention Hutchison Whampoa’s connection to the communist Chinese army.
As reported earlier by NewsMax.com, the CEO of Hutchison, which controls commerce at both ends of the Panama Canal, is a part of the "inner circle” of the Chinese regime. Rep. Dana Rohrabacher, R-Calif., told NewsMax he is protesting the sale.
Clinton, McAuliffe, Cohen; now Reno, Bingaman
The Dispatch and the Associated Press reported that Global Crossing paid a whopping $2.5 million lobbying fee in cash and stock options to to Anne Bingaman, former Reno Justice Department lawyer, and wife of Sen. Jeff Bingaman, D-N.M.
When she sold most of her GC stock in January 2000, she posted a profit of more than $1 million, according to her husband's financial disclosure report.
This flies in the face of then-President Clinton’s vow that his White House would be "the most ethical administration in history” and discourage the revolving-door process. But since Clinton himself did not take his own rhetoric seriously, Mrs. Bingman might have reasoned that neither should she feel bound by it.
In his previous incarnation, Cohen was a Republican senator from Maine. He was a prominent RINO (Republican in Name Only). You may recall that he was very self-righteous during the Iran-Contra hearings and mugged for the cameras right along with his Democrat colleagues who tried, without success, to do in the Reagan administration.
McCain the 'Reformer' Caught
Another RINO, the anti-Bush Sen. John McCain of Arizona, is the No. 1 congressional beneficiary of Global Crossing. Mr. Campaign Finance "Reform" snapped up $31,000 from Global Crossing employees for his failed presidential campaign in March 1999, AP reported Friday. "That same month, McCain, at the company's urging, asked the Federal Communications Commission to encourage the development of undersea cables for transmitting telecommunications signals."
McCain, crowing over the House's passage of unconstitutional campaign finance "reform" legislation, did not respond to AP's requests for an interview.
The NBC-Olympics Connection
Oh, yes and one more thing about the mainstream media’s ignoring or soft-pedaling the Global Crossing scandal: The Dispatch mentions that NBC had announced it had contracted with Global Crossing to transport video feeds from the Winter Olympics in Salt Lake City to seven stations around the country. NBC announced the selection of Global Crossing several days after the company’s bankruptcy.
Nothing wrong or improper about that. But does anyone recall NBC giving the Global Crossing scandal anywhere near the coverage it has given the Enron uproar? Just wondering.
Saturday, Feb. 16, 2002
WASHINGTON – A top Clinton administration official, former Defense Secretary William Cohen, sits on the board of Global Crossing. This is the telecom giant that went belly up Jan. 28 in the fourth largest bankruptcy in U.S. history, leaving a trail of inflated revenues, top executives enriching themselves, employees and shareholders holding the bag, and Arthur Andersen acting as both consultant and auditor.
If this sounds familiar, it is because this is a replay of the Enron script. However, the Global Crossing scandal has direct political links, whereas unhappy Democrats have failed to find an improper Bush-Enron tie – though Bill Clinton pushed the economy-destroying Kyoto "global warming" treaty, rejected by the Senate 95-0, after Enron gave Democrats $420,000.
A Bigger Player Than Enron
Another curious fact revealed Friday, mentioned in passing by the Associated Press: Since 1999, when Global Crossing became a major campaign contributor, it has given nearly $3.5 million in political donations, more than the $2.9 million handed out by Enron and its executives in the same period. Of course, GC gave more to Democrats, so the media establishment isn't raising a fuss.
The New York Times on Thursday casually dropped into the middle of a story focused mainly on the business side of Global Crossing’s problem the fact that "Global Crossing, which has tried to forge close ties with military organizations, appointed William S. Cohen, a secretary of defense in the Clinton administration, to its board last year.”
Radio talk show hosts have previously mentioned this, although up until now no one has given the Cohen connection much scrutiny.
Now comes a story by the Washington Dispatch, called to our attention by a NewsMax reader.
Though the New York Times says the Global Crossing problems "have delayed the awarding of a prestigious $450 million contract to provide the Defense Department with fast Internet services connecting laboratories and other research locations around the country,” the Dispatch spotlights the fact that the contract in question (sidetracked by the Bush Defense Department) "was initially approved under Clinton.”
Mentioned by the Dispatch, but only hinted by the establishment New York Times, is that Cohen "could have been influential” in steering defense contracts to Global Crossing.
And the Associated Press reported Friday, "Even as Global's stock price was hovering just above $1 a share in December, the company's political action committee was giving $2,500 apiece to Democratic Sens. Tom Harkin of Iowa and Carl Levin of Michigan and $500 to Rep. Robert Ehrlich, R-Md."
Significantly, Levin is chairman of the Senate Armed Services Committee, and Global Crossing was after that $450 million contract, "rescinded last year amid complaints from competitors that the company may lack the ability to provide secure and fast Internet services and, in any event, should be ineligible because it is based in Bermuda." That's when GC hired a Washington law firm to lobby on defense issues and added Cohen to its board.
The New York Times fails to mention that Democrat national Chairman Terry McAuliffe made a profit of $18 million on an investment of $100,000 investment in Global Crossing. This 18,000 percent killing on the market has raised suspicions of "insider training,” according to Judicial Watch, the public interest law firm, which has launched its own probe.
(It should also be noted that former President George H.W. Bush received a reported $80,000 worth of Global stock options for a speech he made in Tokyo in 1997, a pittance compared to the lecture fees paid to Clinton. At one point, that holding did swell up to $14.4 million, according to the Wall Street Journal, but it is not known whether Bush sold the stock.)
The Times does say "questions” have been raised by a proposal by Hutchison Whampoa Ltd. of Hong Kong and a unit of Singapore Technologies to buy Global Crossing. However, the Old Gray Lady does not mention Hutchison Whampoa’s connection to the communist Chinese army.
As reported earlier by NewsMax.com, the CEO of Hutchison, which controls commerce at both ends of the Panama Canal, is a part of the "inner circle” of the Chinese regime. Rep. Dana Rohrabacher, R-Calif., told NewsMax he is protesting the sale.
Clinton, McAuliffe, Cohen; now Reno, Bingaman
The Dispatch and the Associated Press reported that Global Crossing paid a whopping $2.5 million lobbying fee in cash and stock options to to Anne Bingaman, former Reno Justice Department lawyer, and wife of Sen. Jeff Bingaman, D-N.M.
When she sold most of her GC stock in January 2000, she posted a profit of more than $1 million, according to her husband's financial disclosure report.
This flies in the face of then-President Clinton’s vow that his White House would be "the most ethical administration in history” and discourage the revolving-door process. But since Clinton himself did not take his own rhetoric seriously, Mrs. Bingman might have reasoned that neither should she feel bound by it.
In his previous incarnation, Cohen was a Republican senator from Maine. He was a prominent RINO (Republican in Name Only). You may recall that he was very self-righteous during the Iran-Contra hearings and mugged for the cameras right along with his Democrat colleagues who tried, without success, to do in the Reagan administration.
McCain the 'Reformer' Caught
Another RINO, the anti-Bush Sen. John McCain of Arizona, is the No. 1 congressional beneficiary of Global Crossing. Mr. Campaign Finance "Reform" snapped up $31,000 from Global Crossing employees for his failed presidential campaign in March 1999, AP reported Friday. "That same month, McCain, at the company's urging, asked the Federal Communications Commission to encourage the development of undersea cables for transmitting telecommunications signals."
McCain, crowing over the House's passage of unconstitutional campaign finance "reform" legislation, did not respond to AP's requests for an interview.
The NBC-Olympics Connection
Oh, yes and one more thing about the mainstream media’s ignoring or soft-pedaling the Global Crossing scandal: The Dispatch mentions that NBC had announced it had contracted with Global Crossing to transport video feeds from the Winter Olympics in Salt Lake City to seven stations around the country. NBC announced the selection of Global Crossing several days after the company’s bankruptcy.
Nothing wrong or improper about that. But does anyone recall NBC giving the Global Crossing scandal anywhere near the coverage it has given the Enron uproar? Just wondering.
