Monday, February 13, 2006
  Bush Owns Halliburton?
"Nothing happens in politics by accident. If it happens, it was planned that way."
-- Franklin Roosevelt

Most of the rebuttals I read or hear concerning something Cheney or Bush has said starts out with the assumption that they are deluded or "live in a fantasy." Let's assume for the sake of argument that they are not deluded and that they are as in touch with "reality" as anyone else. Lets just assume that they are deliberately telling bald-faced lies for their own nefarious reasons.

Let's say, for instance, that they have no interest whatever in "national security" or "spreading democracy" or "fighting terrorists." Let's say they just took over the US to deliberately start a war to make money through companies that are now reaping huge profits from the conflict in Iraq; companies such as Halliburton and various other oil related industries.

The facts so far seem to support this argument. Cheney, who still receives a yearly paycheck of $145,000 from Halliburton, has a huge amount of Halliburton stock and an undisclosed number of options. Since 2001, Halliburton stock has gone from $10 per share to $60 per share.

Bush, on the other hand doesn't seem to profit much until one knows a bit about the history of Halliburton. In the 1930's, the Bush family bought the Dresser Company, a very successful company making oil drilling equipment. In the late 70's, Dresser, still owned by the Bush family, merged with Halliburton.

At the time, Dresser was in a much better financial position than Halliburton so the Bush family did not receive much money from the deal. Obviously then, they were paid in Halliburton stock. Right now, there are about 1500 "owners of record" of Halliburton, most of them are institutions, investment companies, and holding companies, so it is beyond my ability to prove that the Bush family owns a controlling interest in Halliburton but, unless they gave away their holdings from the Dresser deal, they do.

So, what am I saying? I am saying that this country is run of, by and for Halliburton and a few other oil and pharmacological companies the Bush family has financial interests in. We have to pull our heads out of our behinds and recognize that these people are not just misguided right-wing patriots living in a fantasy. They are hard-headed business men. They have a plan and that plan is to concentrate as much wealth and power in theirs hands as possible. Any frame or argument that doesn't recognize this is just whistling in the dark.
The actual purchase of Dresser by Halliburton was done in 1998 (I think) while Cheney was CEO. They purchased Dresser for a little less than $8 billion in stock options when Halliburton was worth only $8 billion, so Dresser (and the Bush family) own the store. I can't understand why no one wants to talk about this!
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Samizdat: an underground system for the circulation of forbidden works of literature and political criticism in the Soviet era of Russia.

Location: Arkansas, United States

Angry, angry, angry ... but still, any day above ground is a good day.