Posted on 07/10/2002 9:36:48 AM PDT by HAL9000
It has emerged in the United States that Vice-President Dick Cheney took part in a promotional video for the disgraced accounting firm Andersen.The news came just before an anti-corruption pressure group filed a lawsuit against Mr Cheney, alleging fraudulent accounting practices.
In the video Mr Cheney - then Chief Executive of the oil company Halliburton - describes how Andersen gave advice "over and above" what would normally be expected from auditors.
Last month, the firm was convicted of obstructing justice by shredding documents relating to the failed US energy giant Enron.
On Tuesday President George W Bush tried to distance himself from corporate fraud, proposing tougher penalties as a way of restoring confidence in the wake of recent business scandals that have shaken the US.
'Good advice'
The Andersen video, obtained by the Wall St Journal newspaper, is a further embarrassment for President Bush's administration.
Correspondents say its business connections are fast becoming a serious liability.
The video was recorded in 1996.
"I get good advice, if you will, from their people based upon how we're doing business and how we're operating over and above the just sort of normal by-the-book auditing arrangement," Mr Cheney says in a short section of the video.
Andersen's reputation has been destroyed in recent weeks after it emerged that it had destroyed documents for the Enron energy giant.
Enron has admitted to grossly exaggerating its profits to attract investors.
'Share overvaluation'
In a separate development, pressure group Judicial Watch, says Mr Cheney deceived investors while he was a director of the Halliburton oil company in the 1990s.
In its lawsuit, filed in Miami, Florida, on Wednesday, the organisation alleges Mr Cheney and Halliburton engaged in practices which led to the overvaluation of the company's shares.
"Halliburton overstated profits that many American citizens relied upon," Larry Klayman of Judicial Watch told reporters.
"That's fraudulent security practices and it resulted in those Americans suffering huge losses."
In Washington White House spokesman Ari Fleischer appeared dismissive of the case.
He said officials in Mr Cheney's "believe the suit is without merit, and that's where it stands," he said.
Earlier, a Halliburton spokeswoman also said the case had no substance.
Harsher punishments
In a speech in New York's financial district on Tuesday, President Bush said he wanted to tighten measures against corporate fraud.
He announced a doubling - to 10 years - of the maximum prison sentence, and the formation of a special investigative task force.
But Judicial Watch said that Mr Bush's rush to crack down on corporate fraud seemed intended to deflect attention away from his and Mr Cheney's own business practices.
Mr Bush has already faced questions about his work as a director of Texas-based Harken Energy Corp a decade ago, when the firm faced an inquiry for masking huge losses.
If the socialists can get that to stick in the minds of the public, they can do whatever they want.
This is yet another blow to the once mighty soft drink manufacturer, who is still reeling from their disasterous introduction of "New Coke".
Company spokesmen declined to make any statement.
The left is soooooooo transparent
I agree.
Joe Lockhart's Glover Park Ad Agency: Glover Park Group's website
I don't think this is the message. It is corruption in business...which is rampant in America today....that is evil. Business, if done ethically is wonderfull. What is happening to our economy, because of corporate and political fraud, is tantamount to terrorism. The effect on America will be worse than a few worn out threats from Osama.
This needs a Downside-Legacy bump...(see link in jumpstartme's post)
Hey, at least I didn't post the article about the promotional video Jenna did for Enron.
Right...and, child molesting is rampant among catholics, money grubbing is rampant among Jews, buggy-whipping slaves is rampant among southenours, wife beating is rampant among husbands, and starving children is rampant among Republicans.
As an executive in corporate business, your statement is accepted as an insult.
Get a real job.
YOU know this, and I know this. But the Left always counts on the ignorance and suggestibility of the average American to score points.
You know they can't pull it off among those who actually bother to learn facts.
So I guess the question is...
"What did the Democrats know and when did they know it?"
AMEN!
It seems I have struck a nerve huh? Why.....am I hitting close to home? I believe that you may be honest...hard working...and ethical. However, you cannot deny that many corporate executives have been lying and cheating make it appear as though their companies are doing better than they really are. And that because they know the score, they cash out and parachute to safety. And they leave the stock holders...employees...and our nation...holding the bag. And you cannot deny that this is probably the tip of the iceberg, and is having an extremely negative affect on the economy as a whole. Just look at the markets for cripes sake! If you are one of the executives that I am talking about, then my post is meant as an insult. If you are not....then I am not talking about you. By the way, I don't just work for a corporation, I own one.
Of course, I cannot speak for the business crowd that you have chosen to run with, but; the overwhelming majority of my competitors (and peers) are honest, honorable, and admirable business people.
This, of course, begs the question: What business is it that you are in that paints a picture of "rampant" corruption to you? Is this "rampant" corruption evident in your office as well, or are you merely repeating assertions gleaned from Dan Rather?
No wonder Wall Street is worried. The Feds destroyed an entire company because they had some bad apples - and possibly many of them at the top - because it was the politically expedient thing to do. This should be an outrage not a cause for celebration.
Obviously the increase in their publicity comes from the transformation of Klayman and JW from a rabid conservative attack dog to a non-partisan public-interest government watchdog.
I think the transformation happened on January 20th or so of last year.
They're human beings and many are corrupt. Those are facts you had better face. If you didn't already know that, then you may want to pay closer attention.
However, some are honest. This is politics are the dims are playing dirty. What's your answer- sit in your hands?
This, of course, begs the question: What business is it that you are in that paints a picture of "rampant" corruption to you? Is this "rampant" corruption evident in your office as well, or are you merely repeating assertions gleaned from Dan Rather?"
As an "ex" Plant Manager in the Automotive Industry, I agree with Hove. I wouldn't play the games, I got out. But it was rampant throughout the industry. Phoney Quality Documentation, Financial manipulations, Price Fixing, you name it, it determined Bonus's.
It's hard to defend unscrupulous, unethical, greed driven people in high public office without sounding the same, no matter what party affiliation you have. But they don't seem to grasp that.
Politics, government, labor unions, enviromentalists, televangelists, and used car salesman are widely recognized, and ridiculed as disreputable.
An important component of their corruption is selling the notion that they represent all. They do not.
It is terribly misguided, incorrect, insulting, and damaging to propogate the falsehood that Jimmy Hoffa, Bill Clinton, Jimmy Swaggert, or the heads of A.A. accurately represent the character of me, or most.
Honesty, dignity, honor, and character remain rampant in this country, and the world.
A view from ditch may leave one with the impression that the world is an ugly, filthy place. That would be a false, and often self-serving impression.
Puuuuh-lease!Further embarrassment?The word "Embarrassment" is strictly reserved for #42 alone.How the BBC can make me laugh sometimes,and I needed that this morning.God knows they're not that interested in the health and strength of our country. LOL
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