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

To: stockman_scott who wrote (277842)	7/19/2002 11:29:43 AM
From: TigerPaw	Read Replies (2) \| Respond to of 769670

One of the questions the SEC didn't answer was who bought Bush's stock. In his statement of intent to sell, which Bush also had to file with the SEC, he said he was putting his 212,140 shares on the open market. That was nearly twenty times the daily volume of stock that traded on average during June 1990; without a buyer willing to absorb such a large block of stock, the share price would have plummeted. Under questioning by SEC investigators, Ralph Smith, a Los Angeles broker with Sutro & Company, who handled the sale, said that he solicited the shares at the behest of an institutional investor, which he didn't name. The available evidence suggests that the investor was Harvard. The university increased its holdings in Harken around that time. No new institutional investors appeared on the scene. At the bottom of a spreadsheet Smith used to record his calls to Bush was the name of Michael Eisenson, along with the telephone number of Harvard Management. (Eisenson did not return the Center's telephone calls.) If Harvard was the institutional investor that bought Bush's stock, it would be the second time in his career that Bush was bailed out by his alma mater. Bush needed the money from the sale to secure his stake in the Texas Rangers baseball team, an investment he believed would propel him into politics, and that would ultimately bring him $15 million. The Bush's have a habit of using university endowments as their private piggy bank. Bush and the Carlyle group fleeced the University of Texas through their UTimco investment group while Bush Jr. was governor. This is just the type of money laundering that Jr. does not want' to stop even though the same techniques of charity and institutional money passthroughs are what fund Al Qeida. TP