A new book excerpt traces President Bush's rise from failed oil baron to wealthy Texas governor, courtesy of Daddy's friends.
By Molly Ivins and Lou Dubose
There he was. On the Tuesday after a long Fourth of July weekend. In the ballroom of an ornate Wall Street hotel that once housed the New York Merchants Exchange. Standing in front of a blue-and-white backdrop with the words corporate responsibility printed over and over on it, in case you should miss the point. Promising us "a new ethic" for American business. Our president, Scourge of Corporate Misbehavior.
It was like watching a whore pretend to be dean of Southern Methodist University's School of Theology. But as Luther said, hypocrisy has ample wages.
"Harken," said the Bush camp over and over, "was nothing like Enron." Interestingly enough, it was exactly like Enron in each and every feature of corporate misbehavior, except a lot smaller. A perfect miniature Enron.
(snip)
"His name was George Bush," said Harken's founder, Phil Kendrick. "That was worth the money they paid him." Oil-field losses followed GeeDubya the way that cloud of dirt used to follow Pig Pen in "Peanuts." By 1989 Harken was booking big losses but Daddy was president. In February 1990 the company's CEO, Mikel Faulkner, warned board members that a failed deal the previous year left the company "with little cash flow flexibility." In the months that followed, Harken's memos and board minutes should have been written in red ink. So the management team devised a scheme to obscure these losses.
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http://salon.com/opinion/feature/2003/09/25/bushwhacked/index.html
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