Dear Mr. Kurtz,
This is in response to your July 6 segment on
"Reliable Sources."
Specifically, the portion you dedicated to your
premise, "Is President Bush
getting a bum rap from reporters over the growing
list of corporate scandals?".
Your angle is -- It seems unfair to reopen events
from 13 years ago and
claiming that there is "no evidence" to question
the explanations from the
White House, that he is merely guilty by association,
and that all of
corporate America's woes are Clinton's fault.
First of all, if Bush is in fact innocent of any
"wrong doings" then an open
and honest evaluation of all the facts should
exonerate him, shouldn't it?
Perhaps if you did a more thorough job researching
this topic--that is of
course if you ARE interested in the facts and
aren't just another media
mouthpiece for this administration--you would
understand that there are many,
many valid reasons to look into Bush's corporate
past.
For instance, Bush was NOT cleared of any wrong
doings by the SEC. It has
been reported that a 1993 letter from the SEC
to Bush's lawyer emphasized
that its decision "must in no way be construed
as indicating that (Bush) has
been exonerated." That was from the Dallas Morning
News and mentioned in an
article by your Washington Post. That in
itself suggests that this case was
NEVER settled.
I want to also point out that the SEC Chairman
who "investigated" GW Bush was
Richard Breeden who was appointed by Bush I,
and the "investigation" into GW
Bush's Harken Energy insider trading took place
while daddy was president. In
addition, the SEC's general counsel was James
Doty, who handled the sale of
the Texas Rangers in 1989 to Bush Jr. and cronies.
Coincidence?
His excuses ranged from (I'm paraphrasing) "the
SEC lost my files" to "my
lawyers lost my files" to "it happened sooo long
ago", and "it was merely
like doing 60 in a 55."
Incidentally, the same--the VERY SAME--accounting
firm at the center of the
current high profile corporate shenanigans of
Enron and WorldCom was the
accounting firm for Harken--Arthur Andersen.
Incredibly Andersen is also the
very same accounting firm who handled Dick Cheney's
Haliburton. Coincidence?
I'd be very interested to see if treasury secretary
Paul O'Neill's ALCOA
could pass the smell test.
An observer shouldn't overlook the fact that Bush
Jr. wasn't merely an
overpaid clueless executive, he was on the company's
audit committee and had
access too all the financial information of the
company.
Therefore, not only did Bush profit from the exact
same type of insider
trading that went on at Enron, the company was
engaging in the exact same
accounting shenanigans, masking millions of dollars
in losses by the sale of
a subsidiary to a group of insiders. Was
this the start of the accounting
scheme Anderson would use again and again?
The fact of the matter is Bush does have deep
ties to big business. Contrary
to his public statements (lies) claiming he didn't
even know Ken Lay of
Enron, Ken Lay was Bush's largest political contributor,
was part of top
secret and largely still secret energy policy,
and source of a number of Bush
appointees such as secretary of the Army
Thomas White, former vice chairman
of Enron Energy Services when it allegedly hid
hundreds of millions of
dollars in losses and manipulated the California
energy crisis.
As for trying to pin this on Clinton... Clinton
tried to pass a number of
legislations to prevent accounting meltdowns.
For example to separate
accounting and consulting businesses, tighter
accounting standards, and tried
to reign in the rampant deregulation pushed by
the Republicans who rallied
behind "self-regulation," "free market,"
"less government" as if they
shouldn't abide by any laws.
This was pointed out earlier in this same program
when you talked about
campaign finance reform with Senator John McCain.
You seemed to agree with
him which undermines your premise of unfair press
for Bush. Maybe that is why
you spent no time on that very important comment
from Mr. McCain and abruptly
changed the topic. From the a transcript of your
show:
MCCAIN: It smells bad and there is one selling
point here and that is that
Mr. Levitt when he was head of the Securities
and Exchange Commission, tried
to get changes in regulations to tighten up and
the Congress of the United
States even threatened to cut off his money for
his agency. Now that is a
smoking gun.
KURTZ: Yes, the media, I think, didn't do a terribly
good job of covering
those fights at the time, although now obviously
all of these WorldCom type
scandals are front page, top of the evening news.
Before you go I've got to
ask you, what is this strange hold you have on
reporters? A lot of people
felt during the 2000 campaign that the journalists
riding your bus just fell
in love with you.
One prominent attorney who made a career of arguing
for deregulation
throughout the Clinton years was Harvey Pitt.
No doubt this was why Bush Jr.
chose him become his SEC chairman. So now we
have an interesting situation
where the loudest voice for deregulation becomes
the man in charge of regulation.
This seems to be the hallmark of Bush appointees--appoint
a person whose
entire career was dedicated to undermining the
high level post now appointed to.
Other examples: Spencer Abraham, Secretary of
Energy opposed higher fuel
efficiency standards in cars, EPA head Christy
Whitman abolished the environmental
prosecutor's office while Governor of New Jersey,
Gale Norton, Secretary of the
Interior opposed the Endangered Species Act,
Tommy Thomson, Secretary of
Health and Human Services proposed to underfund
the Department of Welfare,
and Elliot Abrams, former Assistant Secretary
of State for Reagan, a major
Iran-Contra figure and convicted felon for his
role in that scandal who helped
orchestrate massive Human Rights violations in
Central America now heads a
department for Human Rights. This is by no means
a comprehensive list.
The fact of the matter is there are many, many
reasons to look into Bush's
corporate past. With all his talk about "bringing
honor and dignity back to
the White House," "Moral Clarity," "the first
MBA president," "the CEO
president," etc., do we have a leader who measures
up to his own standards?
Or are these just hollow words of a hollow man.
The finger pointing to Clinton is growing very
tired.
When will this president take responsibility
for...ANYTHING?
Let's now compare his prior corporate experience
with his current national
fiscal policies. He once said that Enron was
a model for Social Security.
Frightening thought isn't it? But the fact of
the matter is there is no
difference in the Bush Social Security policy
from the Enron pension plan.
Enron siphoned every penny out of that pension
plan and put it directly in
the pockets of the rich corporate heads. Our
Social Security savings are being
siphoned out of our pockets and into the pockets
of the ultra rich beneficiaries
of the Bush tax cut. Think about this, by and
large, the people who benefited
materially from the Bush tax cuts are the very
people who made fortunes from
corporate malfeasance. If Bush wants to
restore financial confidence he should
start with protecting America's pension plan--Social
Security.
The Conservatives spent eight years and 70 million
dollars investigating
Clinton's tiny Whitewater deal and it didn't
seem to bother you in the least.
How would Bush stand up to that sort of microscopic
inspection?
It seems your "reliable source" for this was the
White House itself. How else
could you be so misguided. Change your source
or change your name.
Sim