Thursday, February 08, 2007

Nepotism & Patronage Is BushCo

It's really nice to be validated by the real world when you've stuck something up into the cyberspace. William Bush, GeorgeII's uncle, has gotten himself mixed up in an SEC probe of backdated options in a defense contractor corporation, ESSI. The board of directors gave themselves stocks worth $6million in an unapproved stock issue.

Now defense contractor means working for the government, Reuters reports that ESSI was acquired by DRS for about $2billion last year. DRS sells engineering services to the government, ESSI sells cargo loaders, trailers, and generators to the Pentagon. Here's a real surprise, the board of directors is described as politically connected including several retired generals - maybe Bucky Bush is connected. ESSI's stock rose 900% between 1995 and 2005. Now if Bucky had been on the board for a long time, it might be coincidental, but somehow he became that asset in 2000. He served on the audit commission, oddly enough.

By the way, Cheney's son-in-law Philip Perry is the same DHS counsel who wrote up security laws for chemical firms that are non-existent enough to scare the pants off you. Any of those guys happen to be Bush/Cheney pals? Just since we're beating the Bushes we wouldn't want to leave Dick out.

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