HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Funny how that works. » Reply #85
In the discussion thread: Funny how that works. [View all]

Response to haikugal (Reply #56)

Fri Aug 7, 2015, 09:53 PM

85. Bush Family War Profiteering

by EVELYN PRINGLE
CounterPunch, APRIL 12, 2007

EXCERPT...

This study found that since 9/11, the 34 defense CEOs have pocketed a combined total of $984 million, or enough, the report says, to cover the wages for more than a million Iraqis for a year. In 2005, the average total compensation for the CEOs of large US corporations was only 6% above 2001 figures, while defense CEOs pay was 108% higher.

But the last name of one family, which is literally amassing a fortune over the backs of our dead heroes, matches that of the man holding the purse strings in the White House. On December 11, 2003, the Financial Times reported that three people had told the Times that they had seen letters written by Neil Bush that recommended business ventures in the Middle East, promoted by New Bridges Strategies, a firm set up by President Bushís former campaign manager, who quit his Bush appointed government job as the head of FEMA, three weeks before the war in Iraq began.

Neil Bush was paid an annual fee to "help companies secure contracts in Iraq," the Times said.

But Neil Bush is by no means the only Bush profiting from the war on terror. The first President Bush is so entangled with entities that have profited greatly that itís difficult to even know where to begin. Bush joined the Carlyle Group in 1993, and became a member of the firmís Asian Advisory Board.

The Carlyle Group was best known for buying defense companies and doubling or tripling their value and was already heavily supported by defense contracts. But in 2002, the firm received $677 million in government contracts, and by 2003, its contracts were worth $2.1 billion.

Prior to 9/11, some Carlyle companies were not doing so well. For instance, the future of Vought Aircraft looked dismal when the company laid off 20% of its employees. But business was booming shortly after the wars in Afghanistan and Iraq began, and the company received over $1 billion in defense contracts.

The Bush familyís connections to the Osama bin Ladenís family seem almost surreal. On September 28, 2001, two weeks after 9/11, the Wall Street Journal reported that, "George H.W. Bush, the father of President Bush, works for the bin Laden family business in Saudi Arabia through the Carlyle Group, an international consulting firm."

As a representative of Carlyle, one of the investors that Bush brought to Carlyle was the Bin Laden Group, a construction company owned by Osamaís family. The bin Ladens have been called the Rockefellers of the Middle East, and the father, Mohammed, has reportedly amassed a $5 billion empire. According the Journal, Bush convinced Shafiq bin Laden to invest $2 million with Carlyle.

The Journal found that Bush had met with the bin Ladens at least twice between 1998 and 2000. On September 27, 2001, the Journal reported that it had confirmed that a meeting took place between Bush Senior and the bin Laden family through Seniorís Chief of Staff, Jean Becker, but only after the reporter showed her a thank you note that was written and sent by Bush to the bin Ladens after the meeting.

The current Presidentís little publicized affiliation with the bin Laden family goes back to his days with Arbusto oil when Salem bin Laden funneled money through James Bath to bail out that particular failed company.

Probably the most eerie report about this strange group of bedfellows is that on 9/11, the day that served as a kick-off for the highly profitable war on terror, Shafiq bin Laden attended a meeting in the office of the Carlyle Group, and stood watching TV with other members of the firm as the WTC collapsed.

The fact that so many Saudis, including many bin Ladens, were allowed to fly out of the country right after 9/11, while Americans were still grounded, has always seemed a bit strange to most people also, especially when nobody in the Bush administration was able to explain who gave permission for the flights.

About a month after 9/11, in October 2001, the Carlyle Group severed its ties with the Bin Laden Group, but the Bush family did not. In January 2002, Neil Bush took a trip to Saudi Arabia that was sponsored by the Bin Laden Construction Company and Prince Alwaleed bin Talal, the same Prince who offered New York Mayor, Rudy Giuliani $10 million to help the 9/11 victims, a gesture that Rudy refused.

In the fall of 2003, Bush Senior finally resigned from the Carlyle Group as the accusations of family war profiteering grew louder. However, according to the Washington Post, he still retained stock in the firm and gave speeches on its behalf for a fee of $500,000.

Carlyle companies have also scored big in the Homeland Security bonanza. Federal Data Systems and US Investigations Services hold multi-billion- dollar contracts to provide background checks for airlines, the Pentagon, the CIA and the Department of Homeland Security. US Investigations used to be a federal agency, until it was privatized in 1996 and taken over by Carlyle.

Marvin and Jeb Bush are also highly successful members of the family war profiteering team. Marvin is a co-founder and partner in Winston Partners, a private investment firm, and Jeb is an investor in the Winston Capital Fund, which is managed by Marvin.

CONTINUED...

http://www.counterpunch.org/2007/04/12/bush-family-war-profiteering/

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 98 replies Author Time Post
Octafish Aug 2015 OP
LineReply .
annabanana Aug 2015 #1
Octafish Aug 2015 #3
deutsey Aug 2015 #26
Octafish Aug 2015 #54
Dr Hobbitstein Aug 2015 #57
Octafish Aug 2015 #59
Dr Hobbitstein Aug 2015 #64
Octafish Aug 2015 #65
Dr Hobbitstein Aug 2015 #66
Octafish Aug 2015 #69
Dr Hobbitstein Aug 2015 #72
DisgustipatedinCA Aug 2015 #71
hifiguy Aug 2015 #63
Octafish Aug 2015 #70
dixiegrrrrl Aug 2015 #9
zeemike Aug 2015 #18
tabasco Aug 2015 #51
truedelphi Aug 2015 #58
erronis Aug 2015 #67
Octafish Aug 2015 #81
haikugal Aug 2015 #53
GoneFishin Aug 2015 #2
Octafish Aug 2015 #5
Doctor_J Aug 2015 #4
Octafish Aug 2015 #7
Juicy_Bellows Aug 2015 #6
Octafish Aug 2015 #10
Juicy_Bellows Aug 2015 #15
hedda_foil Aug 2015 #23
Octafish Aug 2015 #34
bvar22 Aug 2015 #45
Dark n Stormy Knight Aug 2015 #8
Octafish Aug 2015 #14
Dark n Stormy Knight Aug 2015 #21
hedda_foil Aug 2015 #42
OnyxCollie Aug 2015 #47
Octafish Aug 2015 #49
OnyxCollie Aug 2015 #74
haikugal Aug 2015 #55
OnyxCollie Aug 2015 #76
OnyxCollie Aug 2015 #11
Octafish Aug 2015 #40
OnyxCollie Aug 2015 #44
Octafish Aug 2015 #52
snagglepuss Aug 2015 #12
Octafish Aug 2015 #61
Scootaloo Aug 2015 #13
Octafish Aug 2015 #77
daleanime Aug 2015 #16
Octafish Aug 2015 #78
2naSalit Aug 2015 #17
zeemike Aug 2015 #19
2naSalit Aug 2015 #20
zeemike Aug 2015 #22
2naSalit Aug 2015 #29
zeemike Aug 2015 #31
2naSalit Aug 2015 #32
Octafish Aug 2015 #35
zeemike Aug 2015 #41
2naSalit Aug 2015 #82
OnyxCollie Aug 2015 #48
shadowmayor Aug 2015 #24
Octafish Aug 2015 #68
shadowmayor Aug 2015 #73
Scuba Aug 2015 #25
Octafish Aug 2015 #75
CanSocDem Aug 2015 #27
Octafish Aug 2015 #79
RiverLover Aug 2015 #28
Octafish Aug 2015 #80
Rex Aug 2015 #30
Octafish Aug 2015 #36
Rex Aug 2015 #39
nashville_brook Aug 2015 #33
Octafish Aug 2015 #87
fadedrose Aug 2015 #37
Octafish Aug 2015 #38
Oilwellian Aug 2015 #46
Juicy_Bellows Aug 2015 #50
WillyT Aug 2015 #43
Octafish Aug 2015 #84
haikugal Aug 2015 #56
LineLineReply Bush Family War Profiteering
Octafish Aug 2015 #85
haikugal Aug 2015 #86
Uncle Joe Aug 2015 #60
Octafish Aug 2015 #88
Enthusiast Aug 2015 #62
Octafish Aug 2015 #89
Enthusiast Aug 2015 #90
blackspade Aug 2015 #83
Octafish Aug 2015 #91
nilesobek Aug 2015 #92
Octafish Aug 2015 #93
nilesobek Aug 2015 #94
Octafish Aug 2015 #95
Octafish Aug 2015 #96
nilesobek Aug 2015 #98
Ghost in the Machine Aug 2015 #97
Please login to view edit histories.