Both the WSJ and the Boston Globe are running stories about more nasty Bush dealings with Harken, including what looks suspiciously like a payoff. Media Whores Online
summarizes:
\\ These reports document how a long-time Bush family political
supporter, Robert J. Stone, Jr., in league with the Cabot family oil
interests, manipulated the Harvard Management Company to invest
millions in Harken in an off-the books arrangement that bailed the
failing company out of a liquidity crisis, kept hidden from Harken
investors and the S.E.C., in 1990.
The reports further show that the financial guarantor of the deal was
none other than Robert Abboud of First City Boston — the one-time head
of the U.S.-Iraq Business Forum, a close political supporter of Bush?s
father, a personal friend of Saddam Hussein, and a figure with a
longtime history of dubious financial and political dealings.
Finally, the reports show that George W. Bush, as a member of Harken?s
audit committee, personally signed off on the secret deals, the
deception of investors, and the manipulation of Harken?s stock price.
As a result of that manipulation, the S.E.C. then justified its
suspension of its investigation into possible fraud in the younger
Bush?s earlier Harken dealings ? an investigation whose files still
remain under lock and key thanks to Harvey Pitt.
?It seems to be a simple case of Aeneas [Harvard Management Company?s
venture capital arm] bailing out Harken,? Dala Bharan, the accounting
expert consulted by the Wall Street Journal, said.
The timing of that bail-out is all-important ? coming at a time that
salvaged George W. Bush?s sinking reputation as a businessman and
fended off official federal investigations.
So are the off-the-books methods, which are almost identical to the
kinds of arrangements that the thieves at Enron indulged in.\\