Tuesday, October 11, 2005

CHENEY'S HALLIBURTON STOCK JUMPS 3,281%

No, these people don't lie. Not at all. Remember on "Meet The Press" in 2003 when VP Cheney said he didn't have any financial ties to Halliburton since he became Bush's running mate?

Well, here's some news for ya folks. THE FAT BASTARD LIED AND HE'S GOTTEN RICHER OFF THE BLOOD OF AMERICAN SERVICE PERSONEL!

Here's the whole story from Raw Story.


Cheney's Haliburton stock options rose 3,281% last year, Senator finds
10/11/2005 @ 3:19 pm
Filed by RAW STORY

An analysis released by a Democratic senator found that Vice President Dick Cheney's Halliburton stock options have risen 3,281 percent in the last year, RAW STORY can reveal.


Sen. Frank Lautenberg (D-NJ) asserts that Cheney's options -- worth $241,498 a year ago -- are now valued at more than $8 million. The former CEO of the oil and gas services juggernaut, Cheney has pledged to give proceeds to charity.


The above graph released by Sen. Frank Lautenberg (D-NJ) charts the value of the Vice President's holdings in Halliburton in the past year.

“Halliburton has already raked in more than $10 billion from the Bush-Cheney Administration for work in Iraq, and they were awarded some of the first Katrina contracts," Lautenberg said in a statement. "It is unseemly for the Vice President to continue to benefit from this company at the same time his Administration funnels billions of dollars to it. The Vice President should sever his financial ties to Halliburton once and for all.”

Cheney continues to hold 433,333 Halliburton stock options. The company has been criticized by auditors for its handling of a no-bid contact in Iraq. Auditors found the firm marked up meal prices for troops and inflated gas prices in a deal with a Kuwaiti supplier. The company built the American prison at Guantanamo Bay.

The Vice President has sought to stem criticism by signing an agreement to donate the after-tax profits from these stock options to charities of his choice, and his lawyer has said he will not take any tax deduction for the donations.

However, the Congressional Research Service (CRS) concluded in Sept. 2003 that holding stock options while in elective office does constitute a “financial interest” regardless of whether the holder of the options will donate proceeds to charities. CRS also found that receiving deferred compensation is a financial interest.

Cheney told "Meet the Press" in 2003 that he didn't have any financial ties to the firm.

“Since I left Halliburton to become George Bush's vice president, I've severed all my ties with the company, gotten rid of all my financial interest," the Vice President said. "I have no financial interest in Halliburton of any kind and haven't had, now, for over three years.”

Cheney continues to received a deferred salary from the company. According to financial disclosure forms, he was paid $205,298 in 2001; $162,392 in 2002; $178,437 in 2003; and $194,852 in 2004.

6 comments:

Shelly said...

There should be a law.....

Grandpa Eddie said...

Shelly,
There is. Like alot of other laws, it's not being enforced with this administration.

EconAtheist said...

Pretty foul, eh pops? Could Cheney be any more ethically-challenged?

Grandpa Eddie said...

Econ,
"Could Cheney be any more ethically-challenged?"

I'm sure he can. After watchin' and listenin' to him over the last 5-6yrs, I'm positive of that.

Good to here from you again, my friend.

via said...

This is just obscene. I'm generally not envious of people who are better off financially, but Cheney is a damn war profiteer.

Eddie, the new format looks great.

Grandpa Eddie said...

Via,
Profiting through hard work, or through investments made with hard earned cash are one thing. This is something completely different. It's just what you said. Pure war profiteering, getting richer off the blood and lives of American service personel.

Thanks, the Mrs. likes the new look, too. She says the blue is nice and it's easier to read.