Published on Sunday, July 7, 2002 by CommonDreams.org
Three Cheers for McAuliffe!
Now Do the Right Thing and Step Down, Terry
by Bruce F. Cole
So it's with curiosity that we witness Terry McAuliffe, head New Democrat and DNC chair, highlighting the Harken scandal these many years later (after a tailor-made situation presented itself) to call the Thief in Chief to account. This is, after all, what real opposition parties do; they oppose. But no matter how encouraging it is to see the DNC chair doing his job, there's one big problem here: hypocrisy.
Yes, well all know that for George W. to stand up like a televangelist and piously rail against corporate corruption is the height of hypocrisy. But for Terry McAuliffe to piously rail against Bush for the same reason is hypocrisy's depth. The Chairman, you see, is no stranger to shady deals and dump trucks full of cash. After all, he's arguably the most successful raiser and distributor of soft-money, the gangrene of American politics. Moreover, his office helped convince the FEC to gut the new McCain/Feingold soft-money ban last month. (There have been mincing denials of this, but we don’t see the DNC joining in the suit against the FEC to restore the law, do we?) And then, there's Global Crossings.
Global Crossings is the fiber optic outfit that went from nothing, to multi-mega, to bankrupt in the span of four or five years. Gary Winnick, GC's CEO is (or was) a good friend and heavy contributor to the Clinton/McAuliffe political cartel, just as Enron's Ken Lay is (or was) to George W. Bush. The company was awarded a huge defense contract just as it was about to go bankrupt, but the contract was later called back because of allegations of irregular bidding processes. Terry McAuliffe channeled massive sums from Global Crossings to the Democratic coffers, and during the process made himself about $18 million --180 times his investment -- from Global Crossing's stock in about three years. He sold when the stock was worth around $60. It fell to less than a buck. Congress is "investigating" both Enron and Global Crossings. Heading up the Senate investigations is that fearsome debater and McAuliffe pal, Joe Leiberman. Meanwhile, Enron and GC employees and shareholders are suing for the loss of their pensions and life savings. Oh, and two more things: Global Crossings' accountant was Arthur Andersen, and sham transactions were involved. The little people were again left holding the bag.
http://www.commondreams.org/views02/0707-08.htm