Friday, April 15, 2011
The Bush Crime Family
We've heard of the Bonno and the Gambino crime families in New York but do we really know the extent of what the Bush Crime family was involved in? I'm not talking about voter software fraud, the unlawful invasion of Iraq based on a premeditated lie or vetoing the bill that would stop torture at Guantanamo bay. That's not what I'm referring to. This time I'm referring to corporate fraud.
Former Navy Intelligence officer Al Martin described Operation Eagle which became Operation Black Eagle. Once again as with Operation Watchtower history is being erased and rewritten. When I say Operation Black Eagle I'm referring to the one that involved Oliver North and Richard Secord in the extended version of Iran Contra.
Al Martin also made reference to Neil Bush's Gulf Stream Reality, Jeb Bush's Gulf Oil Drilling Supply Company, and George Bush Jr's Harken Energy, Tidewater Development and Houston Energy Partners. He also described Wally Bush Jr's Walter Bush Securities ans Prescott Bush's Investment Company.
State securities regulators around the country warn that oil and gas investment scams are alive and well. High oil prices have created a heightened interest in investments in energy-related business ventures.
As more and more people invest in oil and gas securities, the likelihood of oil and gas fraud scams goes up dramatically. Fast talking brokers can trick investors into putting their money in non-existent companies or into buying overpriced stocks.
Al Martin claimed that corporate fraud was used as an alternate means to raise money for the Contras. He claims that he was directly involved with it and worked under Richard Secord. Martin states "We would purchase a field of old shallow wells, pumpers usually in old Kentucky limestone formation fields that still pumped a few barrels a day, package it up into a limited partnership, and through carefully crafted meter reads, logs and runs, we would overstate production by a thousand times. (The Conspirators page 372)
Then they would tap into a list of donors sympathetic to the cause. These donors would invest in the oil field. They would be paid half their investment in the limited partnerships before they became insolvent. They got to write off the other half of their investment on a 2:1 leverage basis, which was perfectly legal under the lax laws at the time. The net effect was that they came out whole on an after tax basis.
In appreciation for their donation to the cause they received an autographed photo of Ronald Reagan and George Bush Sr. and a toll free number to a cubical in the White house basement to impress their friends. As a result Martin would keep 15% while 35% was bled off to a number of North-Secord controlled off shore accounts like Stanford Technologies Overseas Limited, Intercontinental Industries S.A. and Trilateral Investment Group Ltd.
The investment fraud that Al Martin described followed a pattern of setting up a fake company that would be bailed out with public money. Which clearly leads up to the biggest scam off all time, the bank and stock market bail out.
The amount of investment fraud that was involved in the extended version of Iran Contra is vast and complicated but well worth investigating since history tends to repeat itself until we learn from it. Especially the mortgage and real estate fraud.
All this talk about Oil and Gas fraud has me wondering if the bin Ladens really gave the Bush family start up money for their defunct oil company or if it wasn't simply a matter of the Bush family defrauding the bin Ladens kinda like how Sarkozy got money from Gaddafi for his election campaign before he started bombing Gadaffi.
In June 1990 Bush sold more than half of his shares in Harken to a Los Angeles broker named Ralph D. Smith. One week after the sale Harken announced an overall loss of $23.2 million triggering an investigation by the U.S. Securities and Exchange Commission into the sale.