[wordup] Looking behind the Bushes

[Adam Shand]

This is incredibly unpatriotic of me in a time like this but then what can
I say.  I would like to point out that while some of what I read on this
page I feel fairly comfortable saying is "fact" a lot of it I have no idea
about and sources are unfortunately not documented on the page, which is
majorly lame.  Never-the-less ... you get it, there are more links on the
orginal web site then in the below email though.

From: http://prorev.com/bush2.htm

Looking behind the Bushes

Great moments in a great American family

1918 - 1994

Much of this article originally appeared in the Progressive Review during
the 1992 campaign. It has been updated

1918

Prescott Bush Sr., leads a raid on a Indian tomb to secure Geronimo's
skull for Skull & Bones.

1937

Prescott Bush's investment firm sets up deal for the Luftwaffe so it can
obtain tetraethyl lead.

1942

Three firms with which Prescott Bush is associated are seized under the
Trading with the Enemy Act.

SARASOTA HERALD-TRIBUNE: The president of the Florida Holocaust Museum
said Saturday that George W. Bush's grandfather derived a portion of his
personal fortune through his affiliation with a Nazi-controlled bank.
John Loftus, a former prosecutor in the Justice Department's Nazi War
Crimes Unit, said his research found that Bush's grandfather, Prescott
Bush, was a principal in the Union Banking Corp. in Manhattan in the late
1930s and the 1940s. Leading Nazi industrialists secretly owned the bank
at that time, Loftus said, and were moving money into it through a second
bank in Holland even after the United States declared war on Germany. The
bank was liquidated in 1951, Loftus said, and Bush's grandfather and
great-grandfather received $1.5 million from the bank as part of that
dissolution . . . Loftus pointed out that the Bush family would not be the
only American political dynasty to have ties to the "wrong side of World
War II." The Rockefellers had financial connections to Nazi Germany, he
said. Loftus also reminded his audience that John F. Kennedy's father, an
avowed isolationist and former ambassador to Great Britain, profited
during the 1930s and '40s from Nazi stocks that he owned. "No one today
blames the Democrats because Jack Kennedy's father bought Nazi stocks,"
Loftus said. Still, he said, it is important to understand these
historical connections for what they tell us about politics today. The
World War II experience points out how easy it was then -- and remains
today -- to hide money in multinational funds.

1953

George Bush and the Liedtke brothers form Zapata Petroleum. Zapata's
subsidiary, Zapata Offshore, later becomes known for its close ties to the
CIA.

1954

The Bush family buys out the Liedtke brothers.

1955

George Bush sets up a Mexican drilling operation, Permago, with a frontman
to obscure his ownership. The frontman later is convicted of defrauding
the Mexican government of $58 million.

1959

Manuel Noriega recruited as an agent by the US Defense Intelligence
Agency.

1960

Some investigators believe George Bush spent part of this year and the
next in Miami on behalf of the CIA, organizing rightwing exiles for an
invasion of Cuba. Is said to have worked with later Iran-Contra figure
Felix Rodriguez.

1961

According to the Realist, CIA official Fletcher Prouty delivers three Navy
ships to agents in Guatemala to be used in the Bay of Pigs invasion.
Prouty claims he delivered the ships to a CIA agent named George Bush.
Agent Bush named the ships the Barbara, Houston and Zapata.

Bay of Pigs invasion fails. Right-wingers blame Kennedy for failure to
provide air cover. CIA loses 15 men, another 1100 are imprisoned.

George Bush invites Rep. TL. Ashley -- a fellow Skull & Boner -- down to
Texas for a party in order to meet "an attractive girl."  Bush writes that
"she may be accompanied by an Austrian ski instructor but I think we can
probably flush him at the local dance hall." Bush notes that he's had to
unlist his phone because "Jane Morgan keeps calling me all the time."
[From a letter in the Ashley archives uncovered by Spy magazine.]

Zapata annual report boasts that the company has paid no taxes since it
was founded.

1963

John F. Kennedy is assassinated. Internal FBI memo reports that on
November 22 "reputable businessman" George H. W. Bush reported hearsay
that a certain Young Republican "has been talking of killing the president
when he comes to Houston." The Young Republican was nowhere near Dallas on
that date.

According to a 1988 story in The Nation, a memo from J. Edgar Hoover
states that "Mr. George Bush of the CIA" had been briefed on November
23rd, 1963 about the reaction of anti-Castro Cuban exiles in Miami to the
assassination of President Kennedy. George says it ain't him, admits he
was in Texas but can't remember where.

1964

George Bush runs as a Goldwater Republican for Congress. Campaigns against
the Civil Rights Act.

1966

Bush, runs as a moderate Republican, gets elected to Congress. Robert
Mosbacher chairs Oil Men for Bush.

Apache leader Ned Anderson meets with the Skull & Bones lawyer and George
Bush's brother Jonathan who attempt to return the skull Prescott Bush had
looted. Anderson refuses the skull because he says it isn't Geronimo's.

1968

George W. Bush joins Skull & Bones at Yale

1970

Bush loses Senate race to Lloyd Bentsen, despite $112,000 in contributions
from a White House slush fund. Jim Baker is campaign chair.  Bush later
claims to have reported correctly all but $6000 in cash --which he denies
he got. A 1992 story in the New York Times says the $6000 was listed in
records of Nixon's "townhouse operation" which was designed in part to
make GOP congressional candidates vulnerable to blackmail.

1971

Bush is named UN Ambassador by Nixon.

Bureau of Narcotics and Dangerous Drugs finds enough evidence of Noriega's
involvement in drug dealing to indict him, but US Attorney's office in
Miami considers grabbing Noriega in Panama for trial here to be
impractical. State Department also urges BNDD to back off.

1972

Bill Liedtke gathers $700,000 in anonymous contributions for the Nixon
campaign, delivering the money in cash, checks and securities to the
Committee to Re-Elect the President (the infamous CREEP) one day before
such contributions become illegal. Bill says he did it as a favor to
George.

1973

Bush is named GOP national chair. Brings into the party the Heritage
Groups Council, an organization with a number of Nazi sympathizers.

Bush, according to Lowell Weicker, inquires as to whether records of the
"townhouse operation" should be burned.

Robert Mosbacher wins an offshore drilling concession from Philippine
dictator Ferdinand Marcos.

Watergate tapes indicate concern by Nixon and aide HR Haldeman that the
investigation into Watergate might expose the "Bay of Pigs thing."  Nixon
also speaks of the "Texans" and the "Cubans." and mentions "Mosbacher."

In another tape, Nixon decides following his re-election to get signed
resignations from his whole government so he can centralize his power.
Says Nixon to John Erlichman: "Eliminate everyone, except George Bush.
Bush will do anything for our cause."

1974

Bush is named special envoy to China.

1975

DEA report notes Noreiga's involvement in drug trade.

George W. Bush graduates from Harvard Business School

1976

Jerry Ford names George Bush CIA director, his fourth political patronage
job in a little over five years. Bush later claims this is the first time
he ever worked for the CIA. At his confirmation hearings, Bush says, "I
think we should tread very carefully on governments that are
constitutionally elected."

Bush holds first known meeting with Noriega.  Noriega starts receiving
$110,000 a year from the CIA.

Noriega found to be working for Cubans as well, but keeps his CIA gig.

Bush sets up Team B within the CIA, a group of neo-conservative outsiders
and generals who proceed to double the agency's estimate of Soviet
military spending.

Senate committee headed by Frank Church proposes revealing size of the
country's black budget -- intelligence spending that, in contradiction to
the Constitution, is kept secret even from the Hill. According to
journalist Tim Weiner, Bush argues that the revelation would be a disaster
and would compromise the agency beyond repair. By a one vote margin the
matter is referred to the Senate. It never reaches the floor.

Chilean dissident Orlando Letelier is assassinated by Chilean secret
police agents. CIA fails to inform FBI of pending plot and of assassins'
arrival in US. CIA claims the hit was the work of left-wingers in search
of a martyr.

Bush writes internal CIA memo asking to see cable on Jack Ruby visiting
Santos Trafficante in jail. In 1992, Bush will deny any interest in the
JFK assassination while CIA head.

Bush claims nuclear war is winnable.

1977

Philippine dictator Marcos buys back Robert Mosbacher's oil concession.
Mosbacher claims he was swindled. Philippine officials say they never saw
any expenditures by Mosbacher on the project.

1978

Bush, Mosbacher and Jim Baker become partners in an oil deal.

>From a Washington Post article by Bob Woodward and Walter Pincus:
"According to those involved in Bush's first political action committee,
there were several occasions in 1978-79, when Bush was living in Houston
and traveling the country in his first run for the presidency, that he set
aside periods of up to 24 hours and told aides that he had to fly to
Washington for a secret meeting of former CIA directors. Bush told his
aides that he could not divulge his whereabouts, and that he would not be
available." Former CIA chief Stansfield Turner denies such meetings took
place.

George W. Bush declares his candidacy for the Midland Congressional
district. He wins the Republican primary and loses in the general
election.

George W. Bush begins operations of his oil firm, Arbusto Energy. With the
help of Jonathan Bush, he assembles several dozen investors in a limited
partnership including Dorothy Bush, Lewis Lehrman, William Draper, and
James Bath, a Houston aircraft broker

1980

Bush becomes Reagan's vice presidential candidate. Runs as a rightwinger
again.

Mosbacher becomes chief fundraiser for Bush's presidential campaign. Forms
a millionaire's club of 250 contributors, each of whom cough up $100,000.

William Casey forms a working group to prepare for possible Carter October
political surprise. In early October, an Iranian official meets with three
top Reagan campaign aides. All three deny memory of the meeting in
subsequent proceedings.

On October 21, Reagan hints he has a secret plan to release the hostages.
This is right around the alleged date of a Paris meeting at which the
so-called "October Surprise" was settled. Some allege that at this meeting
it was agreed to end the arms embargo against Iran if Iran would release
its hostages after the election. While Bush's presence at this meeting has
been denied by the House committee investigating the October Surprise,
Bush's whereabouts at this critical time remain in doubt. The White House,
in fact, has leaked conflicting stories.

Rep. Dan Quayle goes on a Florida golfing vacation with seven other men
and Paula Parkinson -- an insurance lobbyist who later posed nude for
Playboy. Parkinson describes Quayle as a husband on the make, but says she
turned him down because she was already having an affair with another
congressman. Marilyn Quayle says, "anybody who knows Dan Quayle knows he
would rather play golf than have sex."

The Reagan-Bush campaign receives stolen copies of Carter's briefing
books.

Bush's campaign manager, James Baker, forces the dismissal of Bush aide
Jennifer Fitzgerald, described in a 1982 Time story as having "much to say
about where Bush goes, what he does and whom he sees." Bush continues to
pay Fitzgerald out of his own pocket.

1981

Reagan-Bush inaugurated. Hostages released moments before. Shortly
thereafter, arms shipments to Iran resume from Israel and America. In
July, an Argentinean plane chartered by Israel crashes in Soviet
territory. It is found to have made three deliveries of American military
supplies to Iran. In a 1991 story in Esquire, Craig Unger quotes Alexander
Haig as saying "I have a sneaking suspicion that someone in the White
House winked." Says Unger: "This secret and illegal sale of military
equipment continued for years afterwards."

James Baker named Reagan's chief of staff.

SEC filings for Zapata Oil for 1960-66 are found to have been
"inadvertently destroyed."

Reagan authorizes CIA assistance to Contras.

1982

CIA director William Casey begins Operation Black Eagle to expand US role
in Central America. Urges use of "selected Latin American and European
governments, organizations and individuals" in the project.

Inslaw, a computer software company, signs a $10 million contract to
install a case-tracking program in 94 US Attorney's offices. Four months
later, after obtaining a copy of Inslaw's proprietary version of the
program, the government cancels the contract and begins an aggressive
campaign to force the company into bankruptcy. Later sources claim that
the program was installed by the CIA and sold to various foreign
intelligence agencies.

After $3 million is poured into Arbusto with little oil and no profits,
just tax shelter George W. Bush changes the company name to Bush
Exploration Oil Co. Subsequently he is kept afloat by an investment from
Philip Uzielli, a Princeton friend of James Baker III. For the sum of $1
million, Uzielli bought 10% of the company at a time in 1982 when the
entire enterprise was valued at less than $400,000. Subsequently, to save
the company George W. Bush merges with Spectrum 7, a small oil firm owned
by William DeWitt and Mercer Reynolds. DeWitt had graduated from Yale a
few years earlier than Bush and was the son of the former owner of the
Cincinnati Reds. Bush becomes president of Spectrum 7. He also gets 14% of
the Spectrum's stock. Meanwhile, 50 original investors in Arbusto get paid
off at about 20 cents on the dollar.

1983

Noriega meets again with George Bush.

Bush presents an autographed photo to a WWII Ukrainian leader under the
Nazis, whose regime killed 100,000 Jews.

KAL 007 crashes under circumstances that remain suspicious to this day.

Bush promotes Jennifer Fitzgerald from appointments secretary to executive
assistant. Seven staffers resign in protest. Fitzgerald tells the New York
Post: "Everyone keeps painting me as this old ogre. I really don't worry
about it.  All these bizarre things just simply aren't true."

Neil Bush forms his first oil company. He puts in $100, his partners
contribute $160,000 and Neil is named president of the firm, JNB
Exploration.

Jeb Bush's business partner, Alberto Duque, goes bankrupt, is eventually
convicted of fraud and is sentenced to 15 years in prison.

1984

Jeb Bush lobbies the Department of Health & Human Services on behalf of
Cuban-American businessman Miguel Recarey, Jr., whose medical firm later
collapses. Recarey, who was close to mobster Santos Trafficante, later
flees the US under indictment with at least $12 million in federal funds.

George Bush takes part in meetings to plan increased "third country" aid
to the Contras..

CIA mines Nicaraguan harbors.

1985

Jennifer Fitzgerald is sent to work on Capitol Hill after stories arise
linking her romantically with George Bush.

Stuart Spencer's public relation firm starts receiving over $350,000 from
Panama to improve Noriega's image.

CIA starts using BCCI as a conduit.

George Bush thanks Oliver North for "dedication and tireless work with the
hostage thing, with Central America." Bush will later deny knowing about
the Contra effort until late 1986.

Neil Bush joins the board of Silverado S&L, serves until 1988. Silverado
loans his partners in JNB $132 million which they never repay.  Silverado
will eventually collapse at a taxpayer cost of $1 billion.

408 TOW anti-tank missiles are shipped from Israel to Iran. A day later,
US hostage Benjamin Weir is released.

1986

VP Bush goes to Honduras to promote support for the Contras. Takes along
baseball players Nolan Ryan and Gary Carter.

Contra figure Felix Rodriguez meets with Donald Gregg, Bush's national
security advisor, to complain about Iran-Contra operatives skimming funds
from the Contras.

Bush may have made several secret visits to Damascus between 1986-88
according to a 1992 report in Time, which said two senior GOP senators
were pressing for a probe. The allegation is that Bush went to negotiate
the release of hostages in Lebanon but in fact stonewalled Syria, "playing
for campaign timing. Republicans want to get to the bottom of
intelligence-community suspicions that the US somehow blew a chance to
free Terry Anderson and his fellow captives."

Iranian arms runner Manucher Ghorbanifar proposes "diversion" of profits
from Iran arms sales to Contras.

George W. Bush and partners receive more than $2 million of Harken Energy
stock in exchange for a failing oil well operation, which had lost
$400,000 in the prior six months. After Bush joined Harken, the largest
stock position and a seat on its board were acquired by Harvard Management
Company. The Harken board gave Bush $600,000 worth of the company's
publicly traded stock, plus a seat on the board plus a consultancy that
paid him up to $120,000 a year. When Harken runs short of cash it hooks up
with investment banker Jackson Stephens of Little Rock, Arkansas, who
arranges a $25 million stock purchase by Union Bank of Switzerland. Sheik
Abdullah Bakhsh, who joins the board as a part of the deal, is connected
to the infamous BCCI.

1987

Bush's former chief of staff, Daniel Murphy, flies to Panama with South
Korean influence peddler Tongsun Park on a private plane owned by arms
dealer Sargis Soghnalian to meet with Noriega. Murphy later tells a Senate
subcommittee that he informed Noriega that he need not resign before the
1988 election despite the Reagan administration public pressure to the
contrary.

Bill Casey dies.

Lee Atwater accuses Robert Dole of spreading stories about Bush and
Jennifer Fitzgerald. An agreement is worked out, as reported by Sidney
Blumenthal in the Washington Post: "The Dole people didn't spread any
rumors and promised not to do it again. And the Bush people haven't spread
rumors about the Dole people spreading rumors and won't do it again. "

Harken Energy project gets rescued by aid from the BCCI-connected Union
Bank of Switzerland in a deal brokered by Jackson Stephens, later to show
up as a key supporter of Bill Clinton.

1988

Jeb Bush and a partner default on a $4.5 million loan from a Florida S&L.
The default will cost taxpayers' millions. Bush and his partners will
repay only ten percent of the loan but will keep all real estate
collateralized by it.

Silverado S&L goes under after receiving 126 cease & desist orders in past
four years from the Topeka office of the Office of Thrift Supervision.
These orders found conflict of interests, insider abuse and other
violations.

Dwight Chapin, ex-Nixon dirty trickster, gets job in Bush campaign.

Rudi Slavoff becomes head of Bulgarians for Bush. In 1983, Slavoff
organized an event honoring Austin App, promoter of the theory that the
Holocaust was a hoax.

Slavoff joins other GOP ethnic leaders in the Coalition of American
Nationalities co-chaired by Edward Derwinski. Among them is a former
member of an Hungarian pro-Nazi party. After press revelations, eight of
the leaders accused of anti-semitism resign from the campaign. Bush says:
"Nobody's giving in...  These people left of their own account."

GOP flier warns that "all the murderers, rapists and drug pushers and
child molesters in Massachusetts vote for Michael Dukakis."

Bush establishes Team 100, which will eventually grow to 249 individuals
who contribute nearly $25 million in soft money to help the GOP cause. The
contributions also apparently help the contributors, various of whom get
ambassadorial appointments, legislative favors, and intervention on
regulatory and criminal matters.

Bush denies knowledge of Noriega's involvement in drug dealing.

The Willie Horton ad is aired. Credit for similar tactics is given to
campaign guru Lee Atwater, whose PR firm had represented drug-connected
Bahamian prime minister Oscar Pinding and the Philippines' Marcos. Atwater
himself had represented UNITA, the CIA-backed Africa rebel group.

Fred Malek, ex-Nixon aide, resigns from the Bush campaign after it's
revealed that he compiled a list of Jews in the Labor Dept. as part of a
Nixon investigation of a "Jewish cabal."

A few days before the supposedly surprise arrest of five BCCI officials,
some of the world's most powerful drug dealers quietly withdraw millions
of dollars from the bank. Some government investigators believe the
dealers were tipped off by sources within the Bush administration.

Although Felix Rodriguez, former leading cop under Batista, claims he left
the CIA in 1976, Rolling Stone reports that he is still going to CIA
headquarters monthly to receive assignments and get his bulletproof
Cadillac serviced.

Bankruptcy judge George Bason Jr. concludes that the government stole
Inslaw's software through "trickery, fraud and deceit."

Stock market drops 43 points on false rumor that Washington Post was about
the publish the Bush-Fitzgerald story.

1989

Bush inaugurated. Aides tell the press that the new administration would
rather "stay one step behind than be one step ahead."

Bush authorizes CIA support to Noriega's opposition, giving Noriega an
excuse to annul Panama's elections.

Bush claims executive privilege to avoid testifying in the Oliver North
trial, thus becoming first president to use this power to keep his acts as
vice president under wraps.

Dan Quayle declares changes in Soviet Union "just a public relations
extravaganza."

Bush brother Prescott flies to Shanghai after the Tiananmen Square
massacre to close a deal for an $18 million resort there, despite his
brother's ban on high-level Chinese contacts. Prescott says, "We aren't a
bunch of carrion birds coming in to pick the carcass. But there are big
opportunities in China, and America can't afford to be shut out."

Prescott Bush also visits Japan, searching for consulting contracts just
ten days before his brother arrives on a presidential tour. The Japanese
firm that paid Prescott a quarter-million dollar consulting fee comes
under investigation for exchange law violations and links to the Japanese
mob.

C. Boyden Gray, the president's top ethics official, corrects his 1985 and
1986 financial disclosure forms. He forgot to include $98,000 in income.

George Bush signs the S&L bailout bill promising that "these problems will
never happen again."

The Chicago Tribune reports: "After 14 fishing outings, the President has
failed to catch a single fish."

At White House behest, the DEA lures drug dealer to Lafayette Park to make
arrest in front of presidential home for the benefit of Bush's upcoming
drug speech. At first, drug dealer is dubious, asks DEA agent, "Where the
fuck is the White House?"

Defense secretary nominee John Tower runs into confirmation troubles when
it is revealed that he has received hundreds of thousands of dollars in
consulting fees from defense contractors. Runs into more trouble with
revelations of womanizing and drinking. His nomination is rejected.

The sale of three communications satellites to China is announced.
Prescott Bush is a $250,000 consultant in the deal.

GOP memo is leaked implying that House Speaker Tom Foley is a homosexual.

President Bush signs a top-secret directive ordering closer ties with
Iraq, which opens the way for $1 billion in new aid just a little more
than a year before Bush goes to war against that country. The agricultural
credit allows Saddam Hussein to use his hard currency for a massive
military buildup.

A second judge concurs that the government stole Inslaw's software.

The Statistical Abstract of the United States, published by the US
government, reports that the GNP of East Germany during the 1980s was
greater than that of West Germany. The figures come from the CIA.

Bahrain officials suddenly break off offshore drilling negotiations with
Amoco and decide to deal with Harken Energy, George Bush Jr.'s firm.
Harken has had a series of failed ventures and no cash, so the Bass
brothers are brought in to finance Harken's efforts at a cost of $50
million.

Neil Bush bails out of JNB Exploration, the firm where he became president
with a $100 ante, leaving his partners to worry about its debt.  Days
earlier he forms Apex Energy with a personal investment of $3000. The rest
of the money -- $2.7 million -- comes from an SBA program designed to help
"high risk start-up companies." Like JNB, it proves to be just that. Apex
will later go belly-up with no assets.

Two months after his father's inauguration, George W. Bush announces that
he and a syndicate of investors have purchased the Texas Rangers.  The
investors are Edward "Rusty" Rose, Richard Rainwater, Bill DeWitt, Roland
Betts (a former Yale frat brother) and Tom Bernstein (Bett's partner in a
film investment concern). While Bush appears to lead the group, Rainwater
makes clear that Rose is to control how the business is run. Bush's stake
in the $86 million deal is 2%, financed with a $500,000 loan from a
Midland Bank of which he had been a director and $106,000 from other
sources.  Rainwater and Rose put up 14.2 million, Betts and Bernstein
invested about $6 million and the balance comes from smaller investors and
loans. Bush will eventually sell his share for $15 million.

1990

Federal regulators give Bush son Neil the mildest possible penalty in the
$1 billion failure of the Silverado S&L. The deal is so good that Bush
drops his appeal. Among other things, Neil, as a Silverado director, voted
to approve over $100 million in loans to his business partners.

January: Bahrain awards exclusive offshore drilling rights to Harken Oil.
This is a surprise as Harken is in very shaky financial condition, has
never drilled outside of Texas, Louisiana and Oklahoma and had never
drilled undersea at all.  The Bass brothers are brought in by Harken for
sufficient equity to proceed with the effort.  Harken's stock price
increases from $4.50 to $5.50.

George W. Bush sells two-thirds of his Harken Energy stock at the top of
the market for $850,000, a 200% profit, but makes no report to the SEC
until March 1991. Bush Jr. says later the SEC misplaced the report. An SEC
representative responds: "nobody ever found the 'lost' filing." One week
after Bush's sale, Harken reports an earnings plunge. Harken stock falls
more than 60%. Bush uses most of the proceeds to pay off the bank loan he
had taken a year earlier to finance his portion of the Texas Rangers deal.

August: Saddam Hussein invades Kuwait. Harken's stock price drops
substantially. Two months after Bush sells his stock, Harken posts losses
for the 2nd quarter of well over $20 million and is shares fall another 24
%, by year end Harken is trading at $1.25. Bush has insisted that he did
not know about the firm's mounting losses and that his stock sell-off was
approved by Harken's general counsel.

George W. Bush is asked by Carlyle Group to serve on the board of
directors of Caterair, one of the nation's largest airline catering
services which it had acquired in 1989. The offer is arranged by Fred
Malek, long time Bush associate who is then an advisor to Carlyle.

October: Arlington, Texas Mayor Richard Greene signs a contract that
guarantees $135 million toward the new Texas Ranger Stadium's estimate
price of $190 million. The Rangers put up no cash but finance their share
through a ticket surcharge. From the team's operating revenues, the city
will earn a maximum of $5 million annually in rent, no matter how much the
Rangers reap from ticket sales and television (a sum that will rise to
$100 million a year). Another provision permitts the franchise to buy the
stadium after the accumulated rental payments reached a mere $ 60 million.
The property acquired so cheaply by the Rangers includes not just a fancy
new stadium with a seating capacity of 49,000 but an additional 270 acres
of newly valuable land. Legislation is passed and signed that authorizes
the Arlington Sports Facilities Development Authority with power to issue
bonds and exercise eminent domain over any obstinate landowners. Never
before had a Texas municipal authority been given the license to seize the
property of a private citizen for the benefit of other private citizens. A
recalcitrant Arlington family refuses to sell a 13 acre parcel near the
stadium site for half its appraised value. The jury awards more than $4
million to the family.

Fred Malek returns to power with ambassador status to head up planning for
the economic summit.

S&L industry is losing money at the rate of $3 million a minute. Bailout
chief estimates total cost at $325-500 billion.

Some 200 young soccer players have their games canceled for security
reasons because Bush wants to go fishing on the Potomac nearby. Says one
seven-year-old player: "We had a tough soccer game and he's just going
fishing. He could play somewhere else."

Bush brother Jonathan's east coast brokerage fined in two states for
violating laws and Jonathan is barred from public trading in
Massachusetts.

Bush's attorney general, Richard Thornberg, is warned about BCCI but does
nothing.

Federal court of appeals throws out the Inslaw case on the grounds that it
did not belong in bankruptcy court.

Bush says, "The economy is headed in the right direction."

1991

Former top aide to White House Chief of Staff John Sununu goes to work for
a prominent figure in the BCCI scandal less than a month after leaving the
Bush administration. Edward Rogers Jr. signs a $600,000 contract to give
legal advice to Sheik Kamal Adham, an ex-Saudi intelligence officer who is
being investigated for his role in BCCI's takeover of First American
Bancshares.

The Miami acting US Attorney is allegedly rebuffed by the Justice
Department in his efforts to indict BCCI and some of its principal
officers on tax fraud charges. Justice Department later denies this
occurred.

Danny Casolaro, a reporter investigating the Inslaw story, is found dead
in a motel room bathtub, the day after he met a key source. The death was
ruled a suicide. Perhaps he is despondent over the loss of his briefcase,
which is missing from the room.

George Bush spends three nights in a Houston hotel so he can claim Texas
residency. Texas has no income tax.

Neil Bush bails out of Apex Energy after collecting $320,000 in salary
plus expenses. Bill Daniels, cable-TV magnate who has been lobbying
against regulation of the cable industry, offers Neil a job. According to
a representative, he "thought Neil deserved a second chance."

1992

New York Times reports that three of Bush's top fundraisers are being sued
in connection with bank failures and another pleaded guilty to mail fraud
in connection with an S&L. These men include the GOP national finance
chair, vice chair and two co-chairs of the President's Dinner, which
raised $9 million for Republican causes.

Former US Attorney General Elliot Richardson, representing the owners of
Inslaw, tells Mother Jones, "I don't know any case where the government
has stonewalled like this."

First of Harken Energy's wells off Bahrain comes up dry. George W. Bush
takes a leave of absence from the firm to work in his father's campaign,
saying "I don't want to involve this company in any kind of allegations of
conflicts or whatever may arise."

Village Voice reports that President Bush has taken at least 76 partisan
flights during his term, at a cost to the taxpayers of over $6 million.

Nixon's Jew hunter Fred Malek is back as Bush's campaign manager.

Campaign sells photo opportunities with the president at a fundraiser for
$92,000 each.

Washington, DC, loses $52,000 in taxes because Bush claims to be a Texas
resident.

Donald H. Alexander contributes $100,000 to Team 100; shortly thereafter
he's named ambassador to the Netherlands.

Bush says: "I will do what I have to do to be reelected."

JERRY URBAN, HOUSTON CHRONICLE, JUNE 4, 1992:  The Financial Crimes
Enforcement Network -- known as FinCEN -- and the FBI are reviewing
accusations that entrepreneur James R. Bath guided money to Houston from
Saudi investors who wanted to influence US policy under the Reagan and
Bush administrations, sources close to the investigations say . . . The
federal review stems in part from court documents obtained through
litigation by Bill White, a former real estate business associate of Bath
. . . White became entangled in a series of lawsuits and countersuits with
Bath, who for some six years has prevailed in the courts. . . . In sworn
depositions, Bath said he represented four prominent Saudis as a trustee
and that he would use his name on their investments. In return, he said,
he would receive a 5 percent interest in their deals. Tax documents and
personal financial records show that Bath personally had a 5 percent
interest in Arbusto '79 Ltd., and Arbusto '80 Ltd., limited partnerships
controlled by George W.  Bush, President Bush's eldest son. Arbusto means
'bush' in Spanish. Bath invested $ 50,000 in the limited partnerships,
according to the documents. There is no available evidence to show whether
the money came from Saudi interests. George W. Bush's company, Bush
Exploration Co., general partner in the limited partnerships, went through
several mergers, eventually evolving into Harken Energy Corp., a suburban
Dallas-based company . . . Bush said that to his knowledge, Bath's
investment was from personal funds, and no Saudi money was invested in
Arbusto. Bath, 55, a former U.S. Air Force pilot, declined to comment for
the record. Spokesmen for FinCEN and the FBI also declined to comment.
According to a 1976 trust agreement, drawn shortly after Bush was
appointed director of the Central Intelligence Agency, Saudi Sheik Salem
M. Binladen appointed Bath as his business representative in Houston.
Binladen, along with his brothers, owns Binladen Brothers Construction,
one of the largest construction companies in the Middle East. According to
White, Bath told him that he had assisted the CIA in a liaison role with
Saudi Arabia since 1976. Bath has previously denied having worked for the
CIA . . . Bath received a 5 percent interest in the companies that own and
operate Houston Gulf Airport after purchasing it on behalf of Binladen in
1977.

1993

With the new Ranger stadium being readied to open the following spring,
George W. Bush announces that he would be running for governor. He is says
his campaign theme will be self-reliance and personal responsibility
rather than dependence on government.

PBS FRONTLINE: [From a French source] The Saudi authorities' decision to
issue an arrest warrant for Osama bin Laden on 16 May 1993 does not
threaten to affect the relationship between the bin Ladens and the royal
family.  Osama, one of Mohammed's youngest son, has been known for years
for his fundamentalist activities . . . King Fahd's two closest friends
were: Prince Mohammed Ben Abdullah (son of Abdul Aziz' youngest brother),
who died in the early '80s and whose brother, Khaled Ben Abdullah (an
associate of Suleiman Olayan), still has free access to the king; and
Salem bin Laden, who died in 1988 . . . Like his father in 1968, Salem
died in a 1988 air crash...in Texas. He was flying a BAC 1-11 which had
been bought in July 1977 by Prince Mohammed Ben Fahd. The plane's flight
plans had long been at the center of a number of investigations.
According to one of the plane's American pilots, it had been used in
October 1980 during secret Paris meetings between US and Iranian
emissaries. Nothing was ever proven, but Salem bin Laden's accidental
death revived some speculation that he might have been "eliminated" as an
embarrassing witness. In fact, an inquiry was held to determine the exact
circumstances of the accident. The conclusions were never divulged . . .
There was also a political aspect to Salem bin Laden's financial
activities . . . Salem bin Laden played a role in the US operations in the
Middle East and Central America during the '80s. On his death in 1968,
Sheik Mohammed left behind not only an industrial and financial estate but
also a progeny made up of no less than 54 sons and daughters, the fruit of
a number of marriages . . . Upon Sheik Salem's death, the leadership of
the group passed to his eldest son, Bakr, along with thirteen other
brothers who make up the board of the bin Laden group. The most important
of these are Hassan,Yeslam and Yehia.  Most of these brothers have
different mothers and different nationalities as well.  Each has his own
set of affinities, thus contributing to the group's international scope.
Bakr and Yehia are seen as representatives of the "Syrian group"; Yeslam,
of the "Lebanese group". There is also a "Jordanian group." Abdul Aziz,
one of the youngest brothers, represents the "Egyptian group" and is also
manager of the bin Laden group's Egyptian branch, which employs over
40,000 people. Osama bin Laden is, incidentally, the only brother with a
Saudi mother.

1994

George W. Bush is elected Governor of Texas, defeating Ann Richards 53 to
46%.

The BCCI affair

CARTER, REAGAN, BUSH, CLINTON, BUSH, AND BCCI

THE GREATEST FINANCIAL scandal in history -- the BCCI affair -- left
American participants virtually untouched. The media covered the scandal
poorly even though, according to one investigative journalist, up to a
hundred Washington politicians and lawyers might have been criminally
liable.

As a result -- much like Clinton and the Dixie Mafia -- Americans have but
the vaguest notion of what happened. In fact, the two stories overlap. And
like many contemporary sagas of corruption, the two stories reached deep
into both the major parties. In fact, if George W. Bush is elected, we
will be entering our fifth consecutive presidential administration (two
Democratic and three Republican) with direct ties to leading figures in
the biggest financial scandal of all time.

This time line suggests some of the interplay of individuals and parties:

1975

National Bank of Georgia president Bert Lance, whom former Georgia
Governor Jimmy Carter described as being like a brother and was Carter's
chosen but defeated successor, meets with Jackson Stephens, a Naval
Academy classmate of Carter. Stephens Inc. arranges public offering of NBG
stock. Stephens would later be described by the New York Post as the man
who was to "Clinton what Bert Lance was to candidate Jimmy Carter."

1976

Both Stephens and Lance help Carter in his race for the White House.
Carter uses the NBG corporate plane without disclosing it. Campaign is
later fined.

Two Indonesian billionaires come to Arkansas. Mochtar Riady and Liem Sioe
Liong are close to Suharto. Riady is looking for an American bank to buy.
Riady's agent is Jackson Stephens.

1977

Lance comes to Washington as director of the Office of Management and
Budget. He quickly comes under investigation for his past financial
dealings and in September resigns. His lawyer is Clark Clifford, later
embroiled in the BCCI case.

1978

Hillary Clinton, the Arkansas governor's wife, is getting considerable
business from Stephens Inc.

George W. Bush begins operations of his oil firm, Arbusto Energy. He
assembles several dozen investors in a limited partnership including
Dorothy Bush (a friend of BCCI figure Robert Altman), Lewis Lehrman,
William Draper, and James Bath, a Houston aircraft broker who bought
several planes from Air America, a CIA front. Bath's firm appears to be
owned by Saudi investors. He also was a part-owner of a Houston's Main
Bank, along with a couple of BCCI figures.

Stephens brokers the arrival of BCCI to this country, and steers BCCI's
founder, Hassan Abedi to Bert Lance.

Stephens Inc tries to sell Riady stock in the National Bank of Georgia.
The Washington Post quotes a US banker suggesting that Riady is working
for Suharto, who is trying to butter up Carter: "They think of this
country like a 'regime' similar to their own and they just don't realize
that such a ploy wouldn't work." There's no deal. Lance's bank will
eventually be taken over by a BCCI front man -- Ghaith Pharaon. Pharaon
later sells his bank to First American. Pharaon will be fined $37 million
by the Federal Reserve Board and become a fugitive.

Abedi moves to secretly take over First American Bankshares -- later the
subject of the only BCCI-connected scandal to be prosecuted in the US.

1979

Mochtar Riady and Stephens Inc set up Stephens Finance Ltd. In Hong Kong.

Lance is indicted on charges of violating federal banking laws. Clifford's
partner, Robert Altman, represents Lance who eventually achieves a hung
jury.

During this same period, Stephens is, according to Peter Truell and Larry
Gurwin in "False Profits," playing "a crucial role in BCCI's penetration
of the US market."

1984

Mochtar Riady buys a stake in the Worthen holding company whose assets
include the Stephens-controlled Worthen Bank. Price: $16 million. Other
Worthen co-owners will eventually include BCCI investor Abdullah Taha
Bakhish. Deal handled by C. Joseph Giroir II.  Giroir is the Rose law firm
chair who hired Hillary Clinton. Giroir will continue to be a deal-maker
for the Riadys.

1985

Arkansas state pension funds -- deposited in Worthen by Governor Bill
Clinton -- suddenly lose 15% of their value because of the failure of high
risk, short-term investments and the brokerage firm that bought them. The
$52 million loss is covered by a Worthen check written by Jack Stephens in
the middle of the night, an insurance policy, and the subsequent purchase
over the next few months of 40% of the bank by Mochtar Riady. Clinton and
Worthen escape a major scandal. Mochtar's son James comes back to Arkansas
to manage Worthen as president.

Worthen is investigated by the Office of the Comptroller of the Currency
for improper loans to companies owned by the Riadys and Stephenses.

1986

George W. Bush and partners receive more than $2 million of Harken Energy
stock in exchange for a failing oil well operation, which has lost
$400,000 in the prior six months. After Bush joins Harken, the largest
stock position and a seat on its board is acquired by Harvard Management
Company. The Harken board gives Bush $600,000 worth of the company's
publicly traded stock, plus a seat on the board plus a consultancy that
pays him up to $120,000 a year. When Harken runs short of cash it hooks up
with Jackson Stephens, who arranges a $25 million stock purchase by Union
Bank of Switzerland.  Sheik Abdullah Bakhsh, who joins the board as a part
of the deal, is connected to BCCI.

1988

Stephens' wife Mary Ann runs George Bush's campaign in Arkansas. He is a
member of Team 100 -- individuals who have given $100,000 to the
Republican party.

A few days before the supposedly surprise arrest of five BCCI officials,
some of the world's most powerful drug dealers quietly withdraw millions
of dollars from the bank. Some government investigators believe the
dealers were tipped off by sources within the Reagan administration.

1989

Bahrain officials suddenly break off offshore drilling negotiations with
Amoco and decide to deal with Harken Energy, George W. Bush's firm. Harken
has had a series of failed ventures and no cash, so the Bass brothers are
brought in to finance Harken's efforts at a cost of $50 million. Harken's
investment banker is the same firm that helped in BCCI's acquisition of
First American. Among the other BCCI-connected figures that help the deal:
Bahrain's prime minister.

1990

Bush's attorney general, Richard Thornberg, is warned about BCCI but does
nothing.

1991

Stephens Inc gives $100,000 to a Bush dinner committee.

With Stephens, Mochtar Riady buys BCCI's former Hong Kong subsidiary from
its liquidators.

A former top aide to White House Chief of Staff John Sununu goes to work
for a prominent figure in the BCCI scandal less than a month after leaving
the Bush administration. Edward Rogers Jr. signs a $600,000 contract to
give legal advice to Sheik Kamal Adham, an ex-Saudi intelligence officer
who is being investigated for his role in BCCI's takeover of First
American Bankshares.

The Miami acting US Attorney is reportedly rebuffed by the Justice
Department in his efforts to indict BCCI and some of its principal
officers on tax fraud charges.  Justice Department later denies this
occurred.

1992

Ronald Reagan is introduced at the GOP convention by former senator Paul
Laxalt, whose law firm represented BCCI in a drug money case. The chair of
the convention, Craig Fuller, has been the number two official of Hill &
Knowlton which was involved in the BCCI-First American case. Bush's
campaign press representatives has done PR for a Saudi sheik accused of
involvement in the BCCI affair, earning $200,000 in fees in just two
months.

Employees of Stephens Inc. give more money to the Clinton campaign than
those of any other firm except Goldman, Sachs and the NY law firm of
Wilke, Farr & Gallagher.

Stephens' Worthen Bank gives Clinton a $3.5 million line of credit
allowing the cash-strapped candidate to finish the primaries. Little Rock
Worldwide Travel provides Clinton with $1 million in deferred billing for
his campaign trips. Without the Worthen and Worldwide largess, it is
unlikely that the cash-strapped candidate could have survived through the
later primaries.

1995

Webster Hubbell, a former Rose law firm partner -- although not known for
skill in Asian trade matters -- goes to work for a Lippo Group affiliate
after being forced out of the Clinton administration and before going to
jail. Hubbell represented both Worthen and James Riady during the 1980s.

1998

With the settlement of civil fraud charges against Clark Clifford and
Robert Altman, the puny and often diverted investigation into the American
branch of the BCCI scandal effectively comes to an end. Under the deal,
the pair will have to surrender $5 million in stock in First American
Bankshares, which had been illegally controlled by BCCI. They will,
however, get to keep $10-15 million in proceeds obtained during their
tenure as First American attorneys.

*****

The BCCI scandal cheated depositors out of over $10 billion worldwide.
Many of these were lower income people now being paid off at 15 and 25
cents on the dollar for damage done by a illegal operation willingly used
not only by hundreds of drug dealers and other criminals from various
countries but by the intelligence services of five nations (including the
CIA) and at least one government, Pakistan, seeking to finance its nuclear
weapons development. Things always moved a little too smoothly in the BCCI
investigation, leaving scores of unanswered questions and, so far as can
be determined, hardly anyone to blame.  One exception, Swaleh Naqvi,
BCCI's number two man, was given a mild sentence -- over the objections of
Manhattan District Attorney Robert Morgenthau. He later told prosecutors
that he had never explained to Altman and Clifford who really owned First
American.

Naqvi's plea bargain with Justice appeared to have been what the Wall
Street Journal called "sweetheart justice." Said the Journal: "When drugs
and money laundering arrive, political corruption cannot be far behind. If
we had an explanation of how BCCI got away with its illegal purchase of
First American, we could afford to dismiss such ambiguous connections as
lawyer-client relationships.  But we have no such answer, and are left to
speculate why, in the Naqvi plea-bargain, the Justice Department does not
seem to be pressing for one."

The American media has studiously downplayed the story to the end. The New
York Times, for example, put the Altman-Clifford settlement on its
business page.

But while the story has disappeared not all the characters connected to
this saga have. One, for example, is still president and another is ahead
in the polls.

[The best book on the BCCI scandal is False Profits]