Cheney's Ties to Halliburton

[onehandle]

Deferred Compensation Package Counts, Report Indicates

A Congressional Research Service report released yesterday concluded that federal ethics laws treat Vice President Cheney's annual deferred compensation checks and unexercised stock options as continuing financial interests in the Halliburton Co.

Democrats have aggressively challenged Cheney's claim that he has no financial ties to Halliburton, despite those arrangements.

The Houston-based energy conglomerate has been awarded more than $2 billion in contracts for rebuilding Iraq, including one worth $1.22 billion that was awarded on a noncompetitive basis.

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

Can we Agnew his ass now?

[Ediacara]

1. so long story short, he's still getting paid?

am I reading this right?

[rocktivity]

4. "...deferred salary or compensation

received from a private corporation -- as well as unexercised stock options -- may represent a continuing financial interest as defined by federal ethics laws."

According to a story I read earlier, Cheney not only held on to his stock options, he arranged to be paid in installments AND took out an insurance policy ensuring he'd get the money even if Halliburton went of business. Why this is ethically incorrect should be obvious: While Cheney may not work for Halliburton anymore technically, he has a direct stake in making sure they stay in business.

Another issue that needs to be clarified is the exact nature of the compensation: was it the result of a contract buyout, in which case he should have taken the money in a lump sum? Or is it a glorified "advance on his allowance" granted in view of the fact that he could not be work for Halliburton and be Bush's vice president?

There's no "may" about it.


rocknation

[Flubadubya]

2. If just for once... something would stick!

However, 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 relegislated the laws to make all their "shady" transactions and dealings (which were once considered illegal) legal now.

So, since they have covered all their bases, it is hard to see how they could actually be held legally responsible. Hell, they've made their illegality legal!

[lazarus]

3. dupe

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=132894