Hey big Moe: Here's what the French are reading about Bush:
The White House mired in numerous scandals
The former responsibilities exerted by the president George W Bush and the vice-president Dick
Cheney as the heads for companies that today are under the magnifying glass of American justice
feed an increasingly political scrutiny, just four months from the mid-term elections.
The scene is rather unusual. Wednesday July 17, at the time of the reception of Polish president
Alexandre Kwasniewski, George W Bush was constrained to vehemently defend Dick Cheney’s
past history. The Halliburton company, which the vice-president of the United States was the
chairman of 1995 to 2000, is suspected of having falsified its accounts. The SEC (Securities
Exchange Commission), the market’s regulator, opened an investigation at the end of May. A
complaint was filed on July 10 against Mr. Cheney by Judicial Watch, an anticorruption
organization.
In spite of the efforts of the White House, the criminality of corporations became the principal
political subject with the passing days, eclipsing the war against terrorism and homeland
defense. "There is no business... I have a great confidence in the vice-president. When I chose him, I
knew that he was an excellent executive and a man with much experience ", affirmed the president,
causing the anger of the Democrats. "Which kind of message does the President send when he
declares in effect that there is no reason for an SEC inquiry?", questioned Jennifer Palmieri, a
Democratic Party spokesperson.
Since the bankruptcy of Enron at the end of the year 2001, the most significant of the history of
the United States, the administration has been on the defensive. It was obliged to permanently
minimize its close and privileged links with the Texas corporation. The president and founder of
Enron, Kenneth Lay, was the principal financier of George W. Bush’s political campaigns. Terrorist
alarms and an undeniable skill as regards communication made it possible until the summer to
contain the scandal. This receipe appears insufficient today with the multiplication of scandals, the
tumble of Wall Street, the suspicions of unfair kid glove treatment and the personal friendship being
called into question. The Americans lost confidence in their corporations, the CEOs and the Stock
Exchange.
The economic revival is threatened by it. The past business practices of George W Bush and
Dick Cheney are being exposed. They are practices not very distant from those unanimously
condemned today.
An Avalanche of Questions
After the revelation, one month ago, of the 4 billion dollar fraud of WorldCom, George Bush had,
constrained and forced, to defend himself. The political debate suddenly changed tone, was
declared "scandalized". But, in this role, the president was forced to begin to defend his credibility.
July 8, for the first time at the time of a press conference, it was driven back, broken into fragments
by an avalanche of questions about his past as the director of an oil company, Harken Energy
Corporation, and his sale of stock under suspicious conditions just before the announcement of bad
results.
The Wall Street speech the following day in front of a floor of broker/dealers was much anticipated.
It was hoped to be, like the sentiment expressed by Theodore Roosevelt, at the beginning of the
20th century, a speech denouncing "rich malefactors". George Bush preached "a new ethic
of responsibility in the world of business". But the speech was unconvincing. In the room, the
applause was particularly timid, and Wall Street continued to tumble.
George Bush’s speech was preceded this day by those of the Democrats. Less than one hour
before Bush’s speech, the two principal leaders of the opposition, Senator Tom Daschle and
Representative Richard Gephardt, held a press conference accompanied by former employees of
WorldCom and Enron proclaiming to be for "true" reforms. "the problem is not to know if the
president shares the anger felt by the workers and the shareholders of these companies. The
question is to know up to what point (Bush) will really will act and promote the legislation which will
help to solve the problem ", declared Tom Daschle.
Democratic Offensive
Incapable, since September 11, to find a basis for dissent which was favorable for them, fearing to
be seen to be disloyal in a time of war, the Democrats seized this chance to take the offensive with
joy. They hope to convince the voters before the mid-term elections, in November, that George
Bush and Dick Cheney behaved as the corporate chieftains whom they denounce today.
"There is a thing which they cannot hide, it is their past as businessmen", affirms a democratic
spokesman. The Democratic party prepares to broadcast, with the return of partisan politics,
televised campaigns where its candidates will undertake "to protect employment and the retirements"
and to be on the side "of the people which work hard and comply with the rules". Approximately 80
million Americans hold a stock exchange account, primarily as retirement savings, and most lost a lot
of money in the last few months.
The malaise is is even perceptible in the Republican camp, considered in public opinion to
be the party of the "big business" and which fears to make go against the wishes of business. Now
the Congress, Democrats, in the majority in the Senate, and the Republicans, in the majority in the
House of Representatives, has launched out into competitive legislation agendas , to see which is to
become the law most severely punishing the criminality of corporations and officers.
The damage to the Administration now starts to be perceptible in the surveys. Admittedly, the
popularity of George Bush remains very high. 72% of the Americans approve his policy, according
to a public opinion poll carried out for Washington Post and ABC, between the 11 and July 15,
near 1 500 people. A number are equivalent people consider it honest "and deserving confidence".
Another survey, carried out for the New York Times near 1 000 people, between the 13 and July
16, gives similar results. Approximately 70 % of the questioned people support the president.
The doubts grow on the other hand about Bush’s ability to put a end to the numerous scandals. Two
thirds of the people questioned by the New York Times estimate that the administration is more
concerned about the interests of the corporations than of those of the ordinary citizens. The
explanations of Mr. Bush concerning his past of administrator of Harken are far from convincing.
49% say Bush is hiding something and 9 % say he is lying. Only 17 % think that he said the
truth.
lemonde.fr
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