Sunday, June 08, 2008

If the Republicans bring up Rezko this campaign...

... let's have a full and free discussion of this bit of news!

Gretchen Peters reports this juicy tidbit at ABC News:
The US military has awarded an $80 million contract to a prominent Saudi financier who has been indicted by the US Justice Department. The contract to supply jet fuel to American bases in Afghanistan was awarded to the Attock Refinery Ltd, a Pakistani-based refinery owned by Gaith Pharaon. Pharaon is wanted in connection with his alleged role at the failed Bank of Credit and Commerce International (BCCI), and the CenTrust savings and loan scandal, which cost US tax payers $1.7 billion.

The Saudi businessman was also named in a 2002 French parliamentary report as having links to informal money transfer networks called hawala, known to be used by traders and terrorists, including Al Qaeda.

Interestingly, Pharaon was also an investor in President George W. Bush's first business venture, Arbusto Energy.
[Emphases mine]

You can see a great mock "wanted" poster and read the full article here and comments by smintheus (to whom I tip my hat for this story) at DKos.

Smintheus writes (and I'm using the links from that paragraph):
And yet Pharaon was a Harvard classmate of Bush's and a key investor in Arbusto/Harken Energy. He has a notoriously unsavory record. During the Carter administration he was involved in the disgrace of Bert Lance, and then a dozen years later in another banking scandal, the collapse of the shady BCCI due to massive fraud that cost the bank's clients billions of dollars. In the US, he was the second largest shareholder in CenTrust when it went belly up. The Federal Reserve then barred Pharaon from doing business in the US, and the FBI indicted him. Pharaon has been a fugitive ever since.

Thank God the truth about corruption in our government sometimes leak out! It is possible that the Bush administration has set the historic record for corruption in the United States, hardly the claim to infamy most folks would want. Bush keeps saying history will judge his actions. In his shoes, I'd be scared shitless to ponder that.
--the BB

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