Monday, September 13, 2004

Jacking Up Margins

More on Halliburton. Of the $4.3 billion in Halliburton's contracts reviewed by a Department of Defense audit, there was $1.8 billion Halliburton couldn't account for. That's 41.9% for those of you keeping track at home. Amazing. Our tax dollars, hard at work! Doing what?!?

Interestingly, soon after we began the ads, the DoD announced it was breaking up the remaining $7.5 billion in contracts into six separate contracts and putting them out to competitive bid. They didn't prohibit Halliburton from bidding, but the Chairman and CEO of the oil services giant, David Lesar told analysts in New York that if they did put in a bid, it would "jack up the margins significantly."

Not a peep about this from the White House, especially from Cheney, who has been paid more than $500,000 by Halliburton since becoming VP.

Comments:
So what else is new?
If you haven't yet read _Take The Rich Off Welfare_ by Mark Zepezauer, run out and get a copy. He classifies corporate welfare into 5 categories: ripoffs, tax subsidies, sweetheart deals, handouts, and "nods & winks". It's indispensable for understanding just how many ways public resources are being squandered by a handful of fat cats.
 
It seems ironic that we Americans can be robbed...with ours eyes wide open...as long as they drape it in the flag and call it patriotism.

Are not these the same brown Iraqis that we refused to allow medicines to be delivered to during the 10 years of sanctions? Does President Bush and Vice-President Cheney now love these same Iraqis so much that we will spend $200 Billion to deliver to them some form of democracy when we would not ease the sanctions, even when Colin Powell recommended it, and let them have medicines?

If Americans believe these stories, they deserve whatever they get for leaders.

wondering when we will wake up...
j.

p.s. A good book on strategies 'The Selling of Democracy".
 
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