JackC Posted July 3, 2002 Share Posted July 3, 2002 http://www.usatoday.com/news/washdc/nc1.htm The beat goes on. This President lies and the right wingers here continute to defend him. What about the curious release of information right before a long holiday weekend? Am we're surprised about the Worldcoms and Enrons? Link to comment Share on other sites More sharing options...
Ford Posted July 3, 2002 Share Posted July 3, 2002 eh ... I'm more worried about what Bush is doing now than what happened in his past. We know he did alot of stupid things in his life, but I don't really care about digging them up. Link to comment Share on other sites More sharing options...
Art Posted July 3, 2002 Share Posted July 3, 2002 What I find interesting is the President filed Form 144 the day before his sale indicating a sale was pending. Then the Form 4, which either was lost, mixed up, or completely not sent at all, wasn't sent. I was far more worried about this issue prior to realizing the 144 was filed. I had thought it was far more shady of Bush to have made the sale and claimed as he did about the Form 4 that it was lost. Knowing he sent the 144 the day certainly makes this issue far less questionable in my mind. That we know the SEC investigated whether Bush knew of the coming $23 million loss at the time and he was seen not to already shed the sale in a positive enough light. But, knowing he actually did declare his intention to sell makes me feel better about the 34 weeks that followed. Link to comment Share on other sites More sharing options...
Johnny Punani2 Posted July 3, 2002 Share Posted July 3, 2002 Oh please! What a load of sh*t this is!! You have got to be kidding me right? Are the DemoRATS this desperate? Well, I guess they always have people like JackC to gobble up their propoganda. First of all, Bush notified the proper authorities BEFORE the sale was even made. So you can't sit there and try and say he was trying to do something shady. That crap won't fly. Second, filing late after you sell is not a big deal. Why? Because you already reported you were going to sell before you even did! "These types of late filings are not out of the ordinary," Bartlett told The Washington Post. "It would be like doing a 60 in a 55" speed-limit zone, he said." Anyone wana take a guess as to why this was brought up again by the democraps? I'll give you some hints. Because they are desperate to get anything to use against Bush and the Republicans for the elections. The funny thing is the harder and harder they try to smear Pres Bush the more the American People will be turned off by this crap. I'm just waiting for the democraps to break out the class warfare and race card garbage again. I bet the Party of the Jackass is real happy to have people like you on board JackC. Link to comment Share on other sites More sharing options...
Brave Posted July 3, 2002 Share Posted July 3, 2002 Aaaaaaaaaaahhh ... who cares? A complete non-issue. Someone is trying really hard out there. They've GOT to be able to do better than this. Link to comment Share on other sites More sharing options...
The Evil Genius Posted July 3, 2002 Share Posted July 3, 2002 56, This appears not to be just party limited. How many years removed are we from Whitewatergate? If you remember correctly, it was the same people crying wolf (the GOP) then who are saying that Bush's past business dealings are no big deal now. And it was the same people then (the Dems) covering up who are crying wolf now. Either way - both issues aren't worth the time that the media has given the issues. WASHINGTON (AP) - As a Texas oilman, President Bush ( news - web sites) engaged in some of the same kinds of business practices he's now promising to clean up in response to a wave of corporate scandals. Bush was a board member of Harken Energy Corp. in 1989 when the company engaged in a transaction that later prompted an inquiry by the Securities and Exchange Commission ( news - web sites). The SEC forced the company to amend its books to reflect millions of dollars in losses that had been masked by the sale of a subsidiary to a group of insiders. And Bush, who was on the company's audit committee, was the subject of a separate insider stock trade investigation by the SEC. More than a decade later, the SEC is investigating insider deals and questionable bookkeeping at Enron, WorldCom and other companies, and Bush is promising to crack down on corporate wrongdoers. Questions about Bush's past business practices prompted the White House to acknowledge Wednesday that he had failed to promptly disclose the 1989 sale of his Harken stock as required by federal law. The notice of the sale was filed with the SEC 34 weeks after it took place. A spokesman blamed it on a clerical mistake by company lawyers. Bush has said previously that he filed the disclosure form and government regulators lost it. Bush's stock sale was the subject of an SEC insider trading investigation. The president sold Harken stock for $848,000 two months before the company reported millions of dollars in losses. The stock price plunged from $4 when Bush sold it in June 1990 to a dollar a share by year-end. Bush had gotten the stock when Harken bought his failing oil company in the mid-1980s. The SEC took no action in the insider trading probe of Bush. Democrats have made Bush's dealings at Harken a political issue over the years, and it resurfaced in recent days because of Bush's promises to deal harshly with corporate wrongdoers in the wake of the latest corporate scandal, at WorldCom. "It's time this CEO, President Bush, took responsibility for his actions as a private businessman and as president of the United States," Democratic National Committee ( news - web sites) chairman Terry McAuliffe said Wednesday. He said the Bush administration has "given the green light to unscrupulous CEOs by helping to foster a business environment that says 'if it feels good, do it.'" WorldCom, the nation's second-largest provider of long-distance phone service, has said it inflated its earnings by wrongly listing on its books $3.8 billion of expenses in 2001 and $797 million for the first quarter of 2002. The White House dismissed comparisons between Bush's dealings at Harken and the current corporate scandals. "To compare a $12 million sale of a subsidiary company by Harken to a deliberate attempt to hide $3.8 billion in losses is ridiculous," said White House Communications Director Dan Bartlett. "The proof is in the results. Harken fully complied with the SEC and restated its losses and by 1991 the value of their stock doubled from its price a year before." On Wednesday, Harken stock was selling for 45 cents a share. In the 1989 transaction, Harken financed the sale of a subsidiary to a partnership of its own executives. The company then counted the sale price as income, reducing its overall losses. Under pressure from the SEC, the company redid its books to reflect additional losses. WorldCom is the latest in a series of corporate scandals beginning with Enron, which filed for bankruptcy after revelations that it had concealed hundreds of millions of dollars in losses in off-the-books partnerships operated by company insiders. The accounting firm Arthur Andersen was the auditor for both WorldCom and Enron, and was found guilty of obstruction of justice regarding the Enron investigation. Andersen also was the accountant for Harken Energy when Bush sold his stock. After the Enron bankruptcy, Bush proposed a 10-point reform plan that included a requirement that executives promptly disclose when they sell or buy their company stock. On Wednesday, White House press secretary Ari Fleischer ( news - web sites) defended the president's sale of his Harken stock by saying Bush had notified the SEC in advance and in a timely manner that he intended to sell his shares. However, Bush failed to notify the SEC once the stock was actually sold, as required by law. Fleischer said that when Bush blamed the SEC for losing the form, he may have been referring to the first form which he knew he had filed. Initially, Fleischer said that the second form — on the actual sale — is filed by the corporation, but later he said he did not know who bears the legal responsibility Federal law says that it is the responsibility of the individual director — not the corporation — to file the form. Link to comment Share on other sites More sharing options...
The Evil Genius Posted July 3, 2002 Share Posted July 3, 2002 I would be more concerned that Bush made his millions off of the backs of Joe Taxpayer in Arlington than his failure, or should I say, his lawyers failure to file forms on time. Of course, Bush isnt the only one who has made their money off of Joe Taxpayer Link to comment Share on other sites More sharing options...
Guest SkinsHokie Fan Posted July 3, 2002 Share Posted July 3, 2002 I absolutley love the button 56 :high: Link to comment Share on other sites More sharing options...
The Evil Genius Posted July 4, 2002 Share Posted July 4, 2002 Nice button 56 Although - you might want to add this... this is your brain despite two DUI convictions j/k Link to comment Share on other sites More sharing options...
RiggoDrill Posted July 4, 2002 Share Posted July 4, 2002 That "this is your brain" stuff is so ... like... 80's ...(sigh) Link to comment Share on other sites More sharing options...
fansince62 Posted July 4, 2002 Share Posted July 4, 2002 EG....remind me not to stand in front of you if the going ever gets tough!!!! Link to comment Share on other sites More sharing options...
Johnny Punani2 Posted July 4, 2002 Share Posted July 4, 2002 Originally posted by The Evil Genius 56, This appears not to be just party limited. How many years removed are we from Whitewatergate? If you remember correctly, it was the same people crying wolf (the GOP) then who are saying that Bush's past business dealings are no big deal now. And it was the same people then (the Dems) covering up who are crying wolf now. Either way - both issues aren't worth the time that the media has given the issues. WASHINGTON (AP) - As a Texas oilman, President Bush ( news - web sites) engaged in some of the same kinds of business practices he's now promising to clean up in response to a wave of corporate scandals. Bush was a board member of Harken Energy Corp. in 1989 when the company engaged in a transaction that later prompted an inquiry by the Securities and Exchange Commission ( news - web sites). The SEC forced the company to amend its books to reflect millions of dollars in losses that had been masked by the sale of a subsidiary to a group of insiders. And Bush, who was on the company's audit committee, was the subject of a separate insider stock trade investigation by the SEC. More than a decade later, the SEC is investigating insider deals and questionable bookkeeping at Enron, WorldCom and other companies, and Bush is promising to crack down on corporate wrongdoers. Questions about Bush's past business practices prompted the White House to acknowledge Wednesday that he had failed to promptly disclose the 1989 sale of his Harken stock as required by federal law. The notice of the sale was filed with the SEC 34 weeks after it took place. A spokesman blamed it on a clerical mistake by company lawyers. Bush has said previously that he filed the disclosure form and government regulators lost it. Bush's stock sale was the subject of an SEC insider trading investigation. The president sold Harken stock for $848,000 two months before the company reported millions of dollars in losses. The stock price plunged from $4 when Bush sold it in June 1990 to a dollar a share by year-end. Bush had gotten the stock when Harken bought his failing oil company in the mid-1980s. The SEC took no action in the insider trading probe of Bush. Democrats have made Bush's dealings at Harken a political issue over the years, and it resurfaced in recent days because of Bush's promises to deal harshly with corporate wrongdoers in the wake of the latest corporate scandal, at WorldCom. "It's time this CEO, President Bush, took responsibility for his actions as a private businessman and as president of the United States," Democratic National Committee ( news - web sites) chairman Terry McAuliffe said Wednesday. He said the Bush administration has "given the green light to unscrupulous CEOs by helping to foster a business environment that says 'if it feels good, do it.'" WorldCom, the nation's second-largest provider of long-distance phone service, has said it inflated its earnings by wrongly listing on its books $3.8 billion of expenses in 2001 and $797 million for the first quarter of 2002. The White House dismissed comparisons between Bush's dealings at Harken and the current corporate scandals. "To compare a $12 million sale of a subsidiary company by Harken to a deliberate attempt to hide $3.8 billion in losses is ridiculous," said White House Communications Director Dan Bartlett. "The proof is in the results. Harken fully complied with the SEC and restated its losses and by 1991 the value of their stock doubled from its price a year before." On Wednesday, Harken stock was selling for 45 cents a share. In the 1989 transaction, Harken financed the sale of a subsidiary to a partnership of its own executives. The company then counted the sale price as income, reducing its overall losses. Under pressure from the SEC, the company redid its books to reflect additional losses. WorldCom is the latest in a series of corporate scandals beginning with Enron, which filed for bankruptcy after revelations that it had concealed hundreds of millions of dollars in losses in off-the-books partnerships operated by company insiders. The accounting firm Arthur Andersen was the auditor for both WorldCom and Enron, and was found guilty of obstruction of justice regarding the Enron investigation. Andersen also was the accountant for Harken Energy when Bush sold his stock. After the Enron bankruptcy, Bush proposed a 10-point reform plan that included a requirement that executives promptly disclose when they sell or buy their company stock. On Wednesday, White House press secretary Ari Fleischer ( news - web sites) defended the president's sale of his Harken stock by saying Bush had notified the SEC in advance and in a timely manner that he intended to sell his shares. However, Bush failed to notify the SEC once the stock was actually sold, as required by law. Fleischer said that when Bush blamed the SEC for losing the form, he may have been referring to the first form which he knew he had filed. Initially, Fleischer said that the second form — on the actual sale — is filed by the corporation, but later he said he did not know who bears the legal responsibility Federal law says that it is the responsibility of the individual director — not the corporation — to file the form. The SEC already did an investigation into Harkin several years ago and found NO INSIDER TRADING! I will say it again NO INSIDER TRADING!! As, a matter of fact Bush really lost money when he sold the shares because a year later the stock had huge gains. To compare this to Whitewater is a laughing stock... June 1993 Deputy White House Counsel Vincent Foster files three years of delinquent Whitewater corporate tax returns. July 1993 Foster is found dead in a Washington area park. Federal investigators are not allowed access to Foster's office immediately after the discovery, but White House aides enter Foster's office shortly after his death, giving rise to speculation that files were removed from his office. Link to comment Share on other sites More sharing options...
Johnny Punani2 Posted July 4, 2002 Share Posted July 4, 2002 Originally posted by The Evil Genius Nice button 56 Although - you might want to add this... this is your brain despite two DUI convictions j/k Maybe I should add this then EG... Link to comment Share on other sites More sharing options...
JackC Posted July 8, 2002 Author Share Posted July 8, 2002 If anyone thinks that Dubya is the one to help clean up the CEO scandals your are crazy. People go to jail every day for having a few ounces of pot but this rich who stole millions will get off for sure. I guess the GOP now thinks following the law to the letter is not really important. The president is a drunk, a liar and a thief. Put that on a button! Link to comment Share on other sites More sharing options...
The Evil Genius Posted July 8, 2002 Share Posted July 8, 2002 Again, nice buttons 56 Where did you fund those - they are hilarious. Link to comment Share on other sites More sharing options...
gbear Posted July 8, 2002 Share Posted July 8, 2002 Two quick questions: As I read Bush's spin doctor's quotes, does anybody else get struck by the "It was only a couple million dollars." line of reasoning? It's like saying we know there is some cooking of the books and that's okay. It's only a problem when it reaches worldcom and enron levels. IS that his point, and can he really be serious with that as an excuse? Point #2: All of the Republicans seem to point to the "well, it was all fixed later on." arguement. So who here thinks there's more to the Enron and Worldcom than we have found? 10 years from now, World com can say "yes we made a mistake, but we fixed it," What's more, given Worldcom's stock price right now, if they survived, would not the odds be in favor of them trading at 2X their current stock price? That also ignores that in an oil industry, the stock prices fluxuate wildly. The fact that his company survived and made a comeback the next year may not indicate that the company was financially sound after the damage of an SEC investigation. Link to comment Share on other sites More sharing options...
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