The White HOuse is planning to get rid of Cheney. (Does anyone like him? What's his popularity rating in the polls? A. NO. B. - 43%
Cheney could be out in 2004
July 21, 2002
BY DAVID WASTELL
WASHINGTON--Concern is growing among White House officials that Vice President Dick Cheney, President Bush's most trusted adviser, has become a liability in efforts to distance the administration from the corporate scandals panicking the stock market.
As the Dow Jones index slumped to its lowest level since October 1998, falling almost 5 percent Friday, officials privately admitted that investigations into the vice president's past business dealings have turned him into a political problem. The Securities and Exchange Commission, America's financial watchdog, is investigating Cheney's previous role running the beleaguered Halliburton oil field services company.
Last week's relentless stock market plunges gave rise to speculation among Republicans that Cheney, seen until recently as the steadying hand on the White House tiller, may have to be sacrificed as Bush's running mate for the 2004 election. Among the candidates being privately discussed around Washington to replace him are Secretary of State Colin Powell, National Security Adviser Condoleezza Rice and Attorney General John Ashcroft.
"Any of those would have at least one big advantage over Cheney," said a Republican congressional official. "They have not made personal fortunes in big business. In the last election, it seemed to be an advantage that both names on the ticket had track records in business. Next time, unless something changes, it will be a liability."
Cheney is being investigated over allegedly questionable accounting methods employed while he was Halliburton's chief executive. Eyebrows also have been raised by the revelation that he made $18.5 million profit from his sale of company stock in August 2000, two months before the share price began to fall. Halliburton shares have been propelled downward to a quarter of their peak value amid warnings of shrinking profits and the announcement of the SEC investigation.
Last week, Bush was forced to confront the subject in public. Asked at a news conference if he was confident that the SEC would not find any evidence of wrongdoing by Cheney while at Halliburton, Bush said, "Yes, I am."
Democrats, who are demanding the resignation of Harvey Pitt, the SEC chairman who was appointed by Bush, said the president's reply indicated that the financial watchdog was now under pressure from the White House to clear Cheney.
Cheney is trying to keep a low profile, but he said Friday the Bush administration would vigorously pursue corporate wrongdoers.
"When there are reports of fraud, the American people can be certain that the government will fully investigate them," he said. "We must not and will not allow the deeds of a few to tarnish our free-enterprise system."
Powell is being floated as a vice presidential candidate by moderate Republicans, who argue that his presence on the ticket would all but guarantee Bush a second term. He would be a controversial choice with conservative Republicans, however, because they regard him as too liberal.
Rice has said publicly that she would not be a candidate, but Bush likes to feel comfortable with those with whom he works closely, and Rice fits that bill.
Sunday Telegraph |
