July 02, 2002

Bush Defends His Business Tenure

A picture of St. BushFrom today's Washington Post, a summary of the mostly forgotten Harken Energy story, a 1989 prequel to Enron in which GWB got to show his business acumen.

"The Securities and Exchange Commission ruled the transaction phony and forced the company to restate its 1989 earnings. The SEC also investigated Bush for insider trading after he sold nearly $850,000 of Harken stock shortly before its mounting debt was publicly disclosed.

"The SEC eventually closed its investigation of Bush without taking action against him, although The Dallas Morning News has quoted a 1993 letter from the SEC to Bush's lawyer emphasizing that its decision "must in no way be construed as indicating that (Bush) has been exonerated."

I can't wait to see the speech Shrub is working in which he'll primly wag his finger at corporate executives and demand that they improve their ethics. He has even less credibility in this realm than in others.


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