And with no cattle, there's no cowboy
All Hat, No Cattle We warned you! Look back at our 1999, pre-primary assessment of George W. Bush PAUL ALEXANDER
Posted Aug 05, 1999 12:00 AM
George W. Bush was head cheerleader in prep school, a hard-partying frat rat and mediocre student at Yale. After skirting the draft in 1968, he failed at business three times, got bailed out by powerful friends, made a fortune at taxpayer expense and became the popular but weak governor of Texas, an evangelical Christian who preaches morality but ducks questions about his own past. And now he might be president?
As of early July, all indicators seemed to confirm that Texas Gov. George Walker Bush had wrapped up the Republican presidential nomination -- a full eight months before votes will be cast in the first primary, in New Hampshire. After months of buildup, the oldest son of former president George Bush left his home in Austin -- in a campaign plane he'd named Great Expectations -- and set out to take his message of compassionate conservatism to America.
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But questions linger about Bush. Is it enough that the only political post he's held is governor of Texas -- a state whose constitution renders its governor a virtual figurehead with no real power? Will he be hurt by the wishy-washy stands he's taken on abortion, hate-crime legislation and Kosovo? Will he be sunk by persistent rumors of illegal drug use and carousing in his past? When one examines the fullness of his life -- and for this article, Rolling Stone interviewed some 100 people who know Bush -- a more disturbing problem emerges. What Bush is saying now, with its overtones of evangelical Christianity and a moral one-upmanship, has almost nothing to do with the way he has actually lived most of his life. Is Bush being hypocritical? Or is he, as his supporters claim, a man who has recognized the error of his ways -- the one politician who can point the country in the right moral direction?
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In 1984, Uzielli tried to keep Bush Exploration solvent by buying another 400 shares of stock, this time for $150,000 (it's hard to understand the logic of how the sales price was established.) Bush Exploration needed to merge with a profitable company, so Bush found Spectrum 7, a Cincinnati-based oil company owned by William DeWitt Jr. and Mercer Reynolds III, two GOP contributors who, in 1988, would be major donors to his father's presidential campaign. DeWitt and Reynolds named Bush CEO of Spectrum 7 Exploration, a subsidiary of Spectrum 7, with a $75,000 salary. At Bush's urging, Spectrum sank $1 million into stripper wells in Texas in 1985, just when oil prices started to drop. Indeed, Spectrum's financial performance proved to be as dismal as that of Bush's previous two companies. Finally, in January 1986, the world oil market collapsed. In a six-month period, Spectrum lost $400,000. The company's plight had become so bad that Bush and his partners were considering bankruptcy. "I never saw him depressed over the failures," says a Bush confidant. "What he became was angry."
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http://www.rollingstone.com/politics/story/6482734/all_hat_no_cattle