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The REAL Dirt On Bush/Harken Scandal!!
Friday Jul 5th, 2002 8:46 PM
The REAL Dirt On Bush/Harken Scandal!!
Arbusto is an oil company Bush ran into the ground and it was acquired by Spectrum which, Bush ran into the ground and it was acquired by Harken. Bush is as "inside" as a trader gets.


"This is an incredible deal, unbelievable for this small company," energy analyst Charles Strain told Forbes magazine, describing the oil production sharing agreement the Harken Energy Corporation signed in January 1990 with Bahrain.

Under the terms of the deal, Harken was given the exclusive right to explore for gas and oil off the shores of the Gulf island nation. If gas or oil were found in waters near two of the world's largest gas and oil fields, Harken would have exclusive marketing and transportation rights for the energy resources. Truly an "incredible deal" for a company that had never drilled an offshore well.

Strain failed to point out, however, the one fact that puts the Harken deal in focus: George Bush, Jr., the eldest son of George and Barbara Bush of 1600 Pennsylvania Avenue, Washington, DC, is a member of Harken's board of directors, a consultant, and a stockholder in the Texas-based company. In light of this connection, the deal makes more sense. The involvement of Junior-George Walker Bush's childhood nickname-with Harken is a walking conflict of interest. His relationship to President Bush, rather than any business acumen, made him a valuable asset for Harken, the Republican Party benefactors, Middle East oil sheikhs and covert operators who played a part in Harken's Bahrain deal.

In fact, Junior's track record as an oilman is pretty dismal. He began his career in Midland, Texas, in the mid-1970s when he founded Arbusto Energy, Inc. When oil prices dropped in the early 1980s, Arbusto fell upon hard times. Junior was only rescued from business failure when his company was purchased by Spectrum 7 Energy Corporation, a small oil firm owned by William DeWitt and Mercer Reynolds. As part of the September 1984 deal, Bush became Spectrum 7's president and was given a 13.6 percent share in the company's stock. Oil prices stayed low and within two years, Spectrum 7 was in trouble.

In the six months before Spectrum 7 was acquired by Harken in 1986, it had lost $400,000. In the buyout deal, George "Jr." and his partners were given more than $2 million worth of Harken stock for the 180-well operation. Made a director and hired as a "consultant" to Harken, Junior received another $600,000 of Harken stock, and has been paid between $42,000 and $120,000 a year since 1986.

Junior's value to Harken soon became apparent when the company needed an infusion of cash in the spring of 1987. Junior and other Harken officials met with Jackson Stephens, head of Stephens, Inc., a large investment bank in Little Rock, Arkansas (Stephens made a $100,000 contribution to the Reagan-Bush campaign in 1980 and gave another $100,000 to the Bush dinner committee in 1990.)

In 1987, Stephens made arrangements with Union Bank of Switzerland (UBS) to provide $25 million to Harken in return for a stock interest in Harken. As part of the Stephens-brokered deal, Sheikh Abdullah Bakhsh, a Saudi real estate tycoon and financier, joined Harken's board as a major investor. *5 Stephens, UBS, and Bakhsh each have ties to the scandal-ridden Bank of Credit and Commerce International (BCCI).

It was Stephens who suggested in the late 1970s that BCCI purchase what became First American Bankshares in Washington, D.C. BCCI later acquired First American's predecessor, Financial General Bankshares. At the time of the Harken investment, UBS was a joint-venture partner with BCCI in a bank in Geneva, Switzerland. Bakhsh has been an investment partner in Saudi Arabia with Gaith Pharoan, identified by the U.S. Federal Reserve Board as a "front man" for BCCI's secret acquisitions of U.S. banks.

Stephens, Inc. played a role in the Harken deal with Bahrain as well. Former Stephens bankers David and Mike Edwards contacted Michael Ameen, the former chief of Mobil Oil's Middle East operations, when Bahrain broke off 1989 talks with Amoco for a gas and oil exploration contract. The Edwardses recommended Harken for the job and urged Ameen to get in touch with Bahrain, which he did.

"In the midst of Harken's talks with Bahrain, Ameen- simultaneously working as a State Department consultant-briefed the incoming U.S. ambassador in Bahrain, Charles Hostler," the Wall Street Journal noted, adding that Hostler, a San Diego real estate investor, was a $100,000 contributor to the Republican Party. Hostler claimed he never discussed Harken with the Bahrainis.

Harken lacked sufficient financing to explore off the coast of Bahrain so it brought in Bass Enterprises Production Company of Fort Worth, Texas, as a partner. The Bass family contributed more than $200,000 to the Republican Party in the late 1980s and early 1990s. *9 On June 22, 1990, George Jr. sold two-thirds of his Harken stock for $848,560-a cool 200 percent profit. The move was well timed. One week after Junior sold his stock, Harken announced a $23.2 million loss in quarterly earnings and Harken stock dropped sharply, losing 60 percent of its value over the next six months. On August 2, 1990, Iraqi troops moved into Kuwait and 541,000 U.S. forces were deployed to the Gulf.

"There is substantial evidence to suggest that Bush knew Harken was in dire straits in the weeks before he sold the $848,560 of Harken stock," asserted U.S. News & World Report. The magazine noted Harken appointed Junior to a "fairness committee" to study possible economic restructuring of the company. Junior worked closely with financial advisers from Smith Barney, Harris Upham & Company, who concluded "only drastic action could save Harken."

George "Jr." also violated Securities and Exchange Commission (SEC) regulations which require "insider" stock deals to be reported promptly, in Bush's case by July 10, 1990. He didn't file the stock sale with the SEC until the first week of March 1991.

Meanwhile, a cloak-and-dagger aura surrounds Junior's business dealings. James Bath, a Texas entrepreneur who invested $50,000 in Arbusto Energy, may be a business cutout for the CIA. Bath also acted as an investment "adviser" to Saudi Arabian oil sheikhs, linked to the outlaw BCCI, which also has ties to the CIA.

Bill White, a former Bath partner, claims that Bath has "national security" connections. White, a United States Naval Academy graduate and former fighter pilot, charges that Bath developed a network of off-shore companies to camouflage the movement of money and aircraft between Texas and the Middle East, especially Saudi Arabia.

Alan Quasha, a Harken director and former chair of the company, is the son of attorney William Quasha, who defended figures in the Nugan Hand Bank scandal in Australia. Closed in 1980, Nugan Hand was not only tied to drug-money laundering and U.S. intelligence and mi- litary circles, but also to the CIA's covert backing for a "constitutional coup" in Australia that caused the fall of Prime Minister Gough Whitlam.

The Harken deal with Bahrain raises another troubling question: Did the Bahrainis and the BCCI-linked Saudi oil sheikhs use the production sharing agreement with Harken to curry favor with the Bush administration and influence U.S. policy in the Middle East? Talat Othman's sudden rise to prominence in Bush administration foreign policy circles is a case in point. Othman, who sits on the Harken board as Sheikh Bakhsh's representative, didn't have access to President Bush before Harken's Bahrain agreement. "But since August 1990, the Palestinian-born Chicago investor has attended three White House meetings with President Bush to discuss Middle East policy," the Wall Street Journal pointed out. "His name was added by the White House to a select list of 15 Arab-Americans chosen to meet with President Bush, Sununu and National Security Adviser Brent Scowcroft in the White House two days after Iraq's August 1990 invasion of Kuwait."


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by Wendy O
Friday Jul 5th, 2002 8:52 PM
"Bin Laden's family link to Bush"
by PETER ALLEN, Daily Mail, 9/24/01

"In summer 1971, Osama and Salem Bin Laden enjoyed a holiday in Sweden with some of their 55 brothers and sisters. Yet within a few years, the two teenagers' lives had taken stunningly different turns. As the world knows to its cost, Osama embraced Islamic fundamentalism and 30 years later was named the world's most wanted man.

Incredibly, Salem went on to become a business partner of the man who is leading the hunt for his brother. In the 1970s, he and George W Bush were founders of the Arbusto Energy oil company in Mr Bush's home state of Texas.

Mr Bush was not long out of Harvard Business School when he started the company in 1978. Salem watched it grow into a hugely successful business until his death in a microlight plane crash in Texas in 1983.

"As he built his own business empire, Salem Bin Laden had an intriguing relationship with the president-to-be. In 1978, he appointed James Bath, a close friend of Mr Bush who served with him in the Air National Guard, as his representative in Houston, Texas. It was in that year that Mr Bath invested $50,000 (about £34,000) in Mr Bush's company, Arbusto.

There was even speculation that the money might have been from Salem. In the same year, Mr Bath bought Houston Gulf Airport on behalf of the Saudi Arabian multimillionaire. Three years ago, Mr Bush said the $50,000 investment in Arbusto was the only financial dealing he had with Mr Bath. Last night a White House spokesman was unavailable for comment.

"...Yesterday FBI agents swooped on a Boston suburb where around 20 of the wealthy relatives of Bin Laden live.

The GW Bush - Osama Bin Laden Connection -They're Business Partners! Both Families have been doing business for years!!

The Best Enemies Money Can Buy
Michael Ruppert
10/14/01 10:50pm
Since the Sept. 11 attacks on the World Trade Center and the Pentagon, major media powerhouses and the increasingly influential alternative media alike have begun to focus attention on Bush family connections and a long history of arming and financing America's attackers in the months and years prior to the outbreak of war.

Recent stories in the Wall Street Journal (Sept. 27 & 28, 2001), ABC News (Oct. 1, 2001), as well as a host of reports from so-called alternative news sources have begun to focus attention on the Bush family's profit-making role in creating and arming our enemies.

WSJ - Bush Sr. In Business
With bin Ladin Family
Via Carlyle Group

WASHINGTON, DC -Judicial Watch, the public interest law firm that investigates and prosecutes government corruption and abuse, reacted with disbelief to The Wall Street Journal report of yesterday that George H.W. Bush, the father of President Bush, works for the bin Laden family business in Saudi Arabia through the Carlyle Group, an international consulting firm.

The senior Bush had met with the bin Laden family at least twice. (Other top Republicans are also associated with the Carlyle group, such as former Secretary of State James A. Baker.)

"This has the potential of making 'Billygate' (Jimmy Carter's brother's dealings with Libya) look like small potatoes," added Judicial Watch President Tom Fitton.

A family's, and a nation's, divided loyalties.
Issue of 2001-11-12
Posted 2001-11-05
On September 11th, Wafah Binladin, a twenty-six-year-old graduate of Columbia Law School, was finishing the summer holidays with her family in Geneva. Later, she says, she heard the news that the prime suspect was her uncle Osama bin Laden. (Some members of the family prefer "Binladin.") "I thought then, Oh, no! I'll never be able to go back to the States again."

the family, despite its pro-American reputation, holds loyalties that are more complicated than either Abdullah or the family's many influential American friends, defenders, and business partners might have known. (The family keeps tens and possibly hundreds of millions of dollars invested in American companies and financial institutions.)
"People keep asking me, 'Why aren't they on TV denouncing him? Are they really separate?' "

by L.I.
Friday Jul 5th, 2002 8:53 PM
What Was Behind The Warming Of Relations Between Bush And The Taliban?

"...Those who have followed the warming of relations between the Bush administration and Kabul are asking why the Bush administration wasn't alerted to an impending attack through Taliban back-channels.

No sooner had the Bush administration taken over than the Taliban's ambassador-at-large, Rahmatullah Hashami, sat down with senior CIA, State and Pentagon officials in a meeting arranged by Laili Helms, the Taliban's unofficial representative in the United States and niece-in-law of Richard Helms, former CIA director and U.S. ambassador to Iran.

"Powell was reportedly upset about the re-establishment of ties with the Taliban and Pakistani Islamists, but has apparently been overruled by the dominant CIA interests in the administration. Intelligence sources point out that, for its part, the CIA wanted to re-establish contact with murky ex-mujahedin and Taliban-allied arms- and drug-smuggling fronts in Rawalpindi and Peshawar.

Bin Laden's family members whisked out of US
As many as 24 members of terrorist suspect Osama Bin Laden's family were flown out of the US after the September 11 terrorist attacks in New York and Washington, Saudi Ambassador Price Bandar bin Sultan said on US television.

May 23 Congressional Letter Urged Bush To Speak Out Against Taliban
WASHINGTON - 05.23.01 | U.S. Representative Jan Schakowsky (D-IL) today organized a letter signed by more than 100 of her colleagues, including Speaker Dennis Hastert (R-IL) and Democratic Leader Dick Gephardt (D-MO), calling on President Bush to intervene on behalf of Afghanistan's Hindu minority.

Feds Looked Into G.W. Bush-Bin Laden Connection In '92. Part One
Bush Said Friend's Arbusto Investment Was His Own, Not Saudi Money. Friend "Declined To Comment For The Record." Part Two
Houston Chronicle. June 4, 1992. "Federal authorities are investigating the activities of a Houston businessman -- a past investor in companies controlled by a son of President Bush -- who has been accused of illegally representing Saudi interests in the United States.

Excerpts From "Bush Family Preys"
"JEB GETS IN ON THE BCCI ACTION In 1988, Jeb was mentioned in a deposition taken by a Senate Foreign Relations subcommittee, chaired by Sen. John Kerry (D-Mass.), which was investigating drug money laundering operations in the U.S. I saw Jeb Bush two or three times over there with [Abdur] Sakhia," stated Aziz Rehman, a junior BCCI-Miami official in the 1980s.

"This was all part of the bank's trying to cultivate public officials and prominent individuals." *38 Rehman said BCCI's practice was to "bribe" government officials in the United States. "Jeb Bush, V.P. George Bush's son,"Sakhia noted in a 1986 BCCI document, was a "name to be remembered."

Bush is not doing a good job of protecting America. It would be far more accurate to say he's doing a good job of destroying it.
The super "patriotic" Bush family have a consistent habit of building up dictators, supplying them with arms, reaping the profits for themselves and their wealthy friends and then declaring their onetime allies to be the ultimate evil requiring a new war and the loss of American lives.

GW Bush's grandfathers were key supporters of and Wall Street investment bankers for Adolf Hitler during more than a decade preceding the U.S. entering WWII. In 1942 the U.S. Congress seized their assets as Nazi fronts under the Trading With the Enemy Act. Former President Bush and some of his top his cabinet members were very close allies of Saddam Hussein before the Gulf War, which may have begun when the Bush administration signaled Iraq that an invasion of Kuwait would be tolerated by the U.S.

Under the Reagan-Bush administration (in large part run by former CIA director and Reagan Vice President, George Bush) Usama Bin Laden was financed, armed and had his army of terrorists - "the evil-doers" - trained by the CIA. The wealthy Saudis who are bin Laden's money men are also business partners with the Bush family. At what point will Americans dare to question the President about these business relationships?

Follow the Money Behind Bush II - Revealing Article from Observer (London) -- Neighbors and Nature Forum - Southeast Neighbors and Nature Project Forum, hosted at

from pages 54-56 of "Fortunate Son" by J.H. Hatfield
In one of the most bizarre footnotes in history, Time magazine described Bush in 1991 as a "deal broker whose alleged associations run from the CIA to a major shareholder and director of the bank of Credit & Commerce."

BCCI, as it was more commonly known, was closed down in July 1992 amid charges of multi-billion dollar fraud and worldwide news reports that the institution had been involved in covert intelligence work, drug money laundering, arms brokering, bribery of government officials and aid to terrorists. An accounting commissioned by the Bank of England finally exposed the extent of BCCI's deficits and criminal offenses, forcing the bank's eventual collapse.

by anthony
Monday Jul 8th, 2002 5:29 PM
while i applaud all efforts to weed out the continuous partnership between politicians and big money, i am disturbed by the things posted on your website. it is interesting to note that you find it somehow 'more disturbing' that the influence being purchased is being purchased by 'oil sheikhs' and 'arabs' (rather than 'businessmen,' which is of course, what they would be called if they were british or american for example). surely you would not be suggesting that influence purchase by russians or canadians or chinese or israelis is somehow less obnoxious?

by Bushhater
Wednesday May 14th, 2003 10:59 AM
Bush and his dad are members of the Order of Skull and Bones ! Look it up !
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