Let's not forget that Halliburton is also in charge of Funding
Restructuring relief for Katrina victims in LA via a small firm
called 'IEM'. Why haven't they atarted rebuilding? Why hasn't IEM
dispensed any monies to any residents? I approve this message.
"SGS GLOBAL MULTIMEDIA GROUP" <sgs_global_multimedia@...> wrote:
Halliburton scored almost $1.2 billion in revenue from contracts
related to Iraq in the third quarter of 2006, leading one analyst
comment: " Iraq was better than expected... Overall, there is
nothing really to question or be skeptical about. I think the
results are very good."
Very good indeed. An estimated 655,000 dead Iraqis, over 3,000
coalition troops, billions stolen from Iraq's coffers, a country
battered by civil war - but Halliburton turned a profit, so the
results are very good.
Very good certainly for Vice President Dick Cheney, who resigned
from Halliburton in 2000 with a $33.7 million retirement package
(not bad for roughly four years of work). In a stunning conflict
interest, Cheney still holds 50,000 stock options in the company.
Why pursue diplomacy when you can rake in a personal fortune from
Yet Cheney isn't the only one who has benefited from the Bush
administration's destructive policies. The Bush family has done
quite nicely too. Just a few examples:
Bush's dad has strong connections to the Carlyle Group, a massive
private equity investment firm whose Chairman Emeritus is Frank
Carlucci, a former college roommate of Donald Rumsfeld's and
Defense Secretary under Ronald Reagan. Imagine the pull Carlucci
with today's White House...
But Carlucci has another secret weapon - Bush Sr. Amid conflict-of-
interest allegations, the elder Bush resigned from the Carlyle
in 2003, but reportedly remains on retainer, opening doors to
lucrative profits in the Middle East and elsewhere. Bush Sr.'s
specialty is Saudi Arabia; in fact, he was at a Carlyle investment
conference with Osama bin Laden's estranged brother , Shafiq bin
Laden, when the 9/11 attacks took place.
Carlyle specializes in military and security investments, and with
Bush Jr. in office, the company's profits have soared; it received
$677 million in contracts in 2002, then a whopping $2.1 billion in
2003. Carlyle's investors currently enjoy an equity capital pool
over 44 billion dollars.
In January 2006, Bush Sr. wrote China's Foreign Affairs Ministry
that it would be " beneficial to the comprehensive development of
Sino-US relations" if Beijing approved the sale of a Chinese bank
a consortium which included Carlyle. Bluntly put, Bush Sr. asked
China to grant Carlyle a lucrative business deal or risk his son's
William H. T. "Bucky" Bush
George's "Uncle Bucky" joined the board of military contractor
Engineered Support Systems Inc. (ESSI) in 2000 and perhaps not
surprisingly, the value of the company's governmental contracts
strongly increased with Bush Jr. in office. Uncle Bucky earns
monthly consulting fees as well as options to buy stock at
prices, and considering that ESSI's stock tripled two weeks after
9/11 then settled into comfy territory, it's safe to say that
George's uncle is doing quite well. In fact, Bucky cashed out on
8,438 stock options in January 2005, earning himself a cool
in the process. As of 2005, he still owned options on 45,000 more
shares of the company's stock and accrues more each year.
War is profitable for ESSI, or as an executive explained: "The
increasing likelihood for a prolonged military involvement in
Southwest Asia by U.S. forces well into 2006 has created a fertile
environment for the type of support ... products and services that
But lest anyone conclude that Bucky has opened doors for the
company, ESSI's vice-president of investor relations explained in
2005, "The fact his nephew is in the White House has absolutely
nothing to do with Mr Bush being on our board or with our stock
having gone up 1000 per cent in the past five years." Absolutely
nothing at all.
Neil Mallon Bush
Neil rose to infamy in the 1980s as director of the Colorado-based
Silverado Savings and Loan; after Silverado collapsed due to
mismanagement and corruption, US taxpayers were stuck with the
billion-dollar bailout, yet Neil managed to escape the crisis with
small fine and no jail time. It helps to have a dad as Vice
In 1993, Neil joined Bush Sr. in Kuwait to drum up business in the
Middle East, and today, he makes a profit by helping companies
in on the occupation of Iraq. For example, in late 2003, The
Financial Times reported that Neil earned $60,000 per year through
the Crest Investment Company, a private firm generating contracts
Iraq. Crest was headed by Jamal Daniel, a longtime Bush family
contact, who was also on the advisory board of New Bridge
Strategies, a company specifically set up "with the aim of
clients to evaluate and take advantage of business opportunities
the Middle East following the conclusion of the U.S.-led war in
In 2003, Neil's messy divorce proceedings revealed that he was to
get $2 million in stock options from a Chinese semiconductor firm
despite having limited education or business experience in that
area; critics complained that the Chinese company was buying
to his brother, the president. Neil later testified that on
business trips to Asia, he'd had sex with women who showed up at
hotel rooms, presumably prostitutes hired by companies trying to
curry favor with the White House.
Neil has also profited from George's disastrous No Child Left
educational policy. His company, Ignite! (partially owned by Bush
Sr. and funded by Crest Investment) has been awarded with
federal contracts to place its educational products in school
districts across the country.
Marvin Pierce Bush
Marvin joined Bush Sr. and Neil on their Middle Eastern sales trip
in 1993 and then made a mint in the investment banking business.
is a co-founder of Winston Partners, a private investment firm
investments in military and security firms profit from Bush's "war
Having a sibling as president has helped Marvin in other ways,
He is on the board of HCC Insurance Holdings, Inc., which had
insured parts of the World Trade Center; HCC benefited from the
insurance bailout legislation pushed through by brother George.
Marvin was also on the board of Securacom, a company which
electronic security for both Dulles International Airport and the
World Trade Center on September 11, 2001. Marvin stepped down in
2000, but how intriguing that Bush's brother was so well connected
to the security of two critical locations on that fateful day.
In short, the "results are very good" for the Bush dynasty,
even "better than expected," thanks to George's stint in the Oval
Office. Dad's still setting up international deals. Uncle Bucky's
cashing in his stock options. Brothers Neil and Marvin are
all the way to the bank.
It's just the American people who have paid the ultimate price.
1. For more on war profiteering, head over to Halliburton Watch
(www.halliburtonwatch.org) and Corp Watch ( www.corpwatch.org).
Catch a screening of the new Robert Greenwald film titled: Iraq
Sale: The War Profiteers.
2. If you're searching for information on contemporary foreign
policy issues, coupled with an opportunity to take positive
check out Women's Action for New Directions ( www.wand.org). The
site offers in-depth coverage of Hot Topics, such as war and
weapons, as well as fact sheets and other resources. Visit WAND's
Take Action! center for petitions to sign and opportunities to
contact Congress, the White House and the media about the peace
security issues you care about most.
Note: Originally published: October 25, 2006
Correction: The original version of this article stated that
currently holds "more than 400,000 stock options" in Halliburton,
but he actually currently holds 50,000.We apologize for the error.