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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Thomas A Watson who wrote (271387)	7/8/2002 3:47:45 PM
From: ThirdEye	Read Replies (1) \| Respond to of 769670

Well, I suppose ignorance is a form of bliss. I never said Harken was the same as ENE, right down to the bankruptcy, dingbat. In ENE's case, the execs were so greedy they destroyed the golden goose. Otherwise, I meant exactly what I said, Watson. If you don't understand why Bush isn't much different from an ENE exec, then it is you who is factually challenged, not me. Harken was able to concealed its failure just long enough for Mr. Bush to sell most of his stake at a large profit. Insiders created a front organization that appears to be independent but is really under their control. This front buys some of the firm's assets,(with money borrowed from Harkin itself) in this case a subsidiary called Aloha Petroleum, at exhorbitant prices, creates a phantom profit($10 million) that inflates the stock price, allowing the executives to cash in their stock. Now that's exactly how Enron did it. That $10 million phantom profit hid three-quarters of the company's losses in 1989. White House aides have played down the significance of this maneuver, saying $10 million isn't much, compared with recent scandals. But for Harken's stock price — and hence for Mr. Bush's personal wealth — this accounting trick made all the difference. How could Bush, who was on the company's frikkin audit committee, not have known about the Aloha maneuver??? Especially when another director, E. Stuart Watson, assured reporters back in 1994 that he and Mr. Bush were constantly made aware of the company's finances. Chew on that, Watson. But I know you'll never swallow.

To: Thomas A Watson who wrote (271387)	7/8/2002 4:11:06 PM
From: Thomas A Watson	Respond to of 769670

well from all your past post all conclude that your ignorance is your bliss poor thirdy, ignorant of the facts again. Harken is still an open company. It employs folks and provides energy for America. ENE is bankrupt. Your use of the term "same way" shows how clueless you are. By your proffer I can only conclude you stupidly believe that selling stock in a company following all regulations is doing something illegal. A very specific event, an act of an evil person caused the collaspse of small cap hec. And the stupidity of that evil guy was not predictable. Dozens of companies, csco lu nortel sun hp all financed the sales of their products. It was risky and they got burned. It looked to all at the time to be a good investment, but demand waned and bills came due. It's called risk and reward. Enron was a bogus round robin of dummy companies. This is not the same at all as dealing with a single company and providing financing.