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Countdown Status |
Bush Impeachment
Countdown |
Impeachometer
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Articles of Impeachment |
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1: HarkenGate Article 2: StadiumGate |
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US Press |
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World Press |
| UK:
Guardian, Times
Economist Israel: Haaretz |
The Allegations
Allegation #1: Failure to prevent fraudulent acconting. Status: Proven and Convicted
The facts: As a member of the Harken Audit committee, Bush approved accounts that were later restated after SEC objections. It emerged that Harken had counted as revenue the proceeds of the 'sale' of its gas station chain 'Aloha Petroleum' to a group of insiders using money borrowed from the company. Sound familliar? That is how the 'Raptors' that were used to cook the books at Enron worked.
Bush Response: The day after refusing to discuss the matter with reporters stating that 'some accounting issues are not black and white', Bush goes to Wall Street to lecture CEOs on 'corporate responsibility'. Do these people have any understanding of the term 'hypocrisy'? clearly not.
Allegation #2: Insider Trading, Trading During a Lockup Period. Status: Proven beyond doubt
The Facts: Bush signed a Lockup agreement in which he promised not to sell his Harken shares while the company made a secondary offering. The state of the company worsened and forced Harken to cancell the offering and Bush sold his shares. So what is it, did Bush trade on insider information or did he break the lockup agreement?
Whitehouse Response: These are all recycled partisan attacks, can't we talk about something else like the President's heroic role in the War on Terror?
Allegation #3: Failure to file SEC reports on time. Status: Proven and Convicted
The Insider trading investigation began after the SEC noticed that Bush had failled to file reports of the trades with the SEC within 30 days as required. Bush was not only late, he was very late. The Whitehouse had to abandon the explanation Bush gave in the campaign blaming everything on the SEC when it emerged that Bush had filled late not once, but four times.
Bush Response 1: The SEC lost the paperwork
Bush Response 2: The company lawyers ate my homework
Bush Response 3: I am still trying to understand it
Allegation #4: Something very fishy about the anonymous purchaser. Status: Looks very fishy
Who was the mystery buyer who bought Bush's shares at such a convenient time? We don't know, but we are going to find out soon enough, count on it.
Sources:
TBS
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