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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (2463)	7/17/2002 4:35:55 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Bush Says SEC Probe Will Clear Cheney Wed Jul 17,12:53 PM ET By TOM RAUM, Associated Press Writer WASHINGTON (AP) - President Bush ( news - web sites) called Dick Cheney ( news - web sites) "a fine business leader" Wednesday and said he was confident an investigation by the Securities and Exchange Commission ( news - web sites) into Cheney's former company's accounting practices would exonerate the vice president. The SEC is investigating the Dallas-based Halliburton Co. when Cheney was its chief executive. "That matter will run its course...and facts will come out at some time," Bush said. Bush was asked whether he was confident the SEC would find that Cheney did nothing wrong. "Yes,I am," Bush said during a White House news conference with Polish President Aleksander Kwasniewski. Bush also sidestepped a question on his own business practices a decade ago as a director of Harken Oil Corp. Bush was investigated by the SEC on suspicion of insider trading in 1990, but that case was dropped. Bush said his sale of stock "was fully investigated by career investigators" and the SEC. "The key document said there is no case," he said. "The key thing for the American people is to realize that the fundamentals for economic vitality and growth are there," the president said, quickly changing the subject. Despite a long-sliding stock market, "I'm an optimist about the future of this economy," the president said. On other subjects, Bush: _ Renewed his call for Palestian Leader Yasser Arafat ( news - web sites) to step down or be replaced. "The Palestinian people will be better served with new leadership," he said, while adding, "The issue is much bigger than one person." _ Vowed to keep up the pressure to hunt down al-Qaida terrorists, calling them "cold-blooded killers." _ Praised Poland as a source of stability in the region, with good relations with both the West and Russia. Bush drew two questions about his and Cheney's business dealings in the Texas oil business. "I've got great confidence in the vice president. He's doing a heck of a good job. When I picked him, I knew he was a fine business leader and a fine, experienced man, and he's doing a great job," Bush said. Congressional Democrats have said they may hold congressional hearings into accounting at Halliburton Co. when Cheney was chief executive of the oil equipment company. Cheney has not publicly discussed his role since Wall Street's turbulence and mushrooming business scandals have thrust the issue of corporate responsibility into the limelight. A watchdog group, Judicial Watch, has filed a shareholders lawsuit alleging that Halliburton overstated revenue by $445 million from 1999 through 2001. The suit suggests that Halliburton's accounting practices resulted in an overvaluation of its shares.