DRUDGE: GLOBAL CROSSING BANKRUPTCY: DNC CHAIRMAN MCAULIFFE PROFIT; TURNED $100,000 INTO $18,000,000

Drudge Report ^ | 1/27/02

[AnnO]

Global Crossing's lobbying effort got a boost from someone best known for crusading against the corrupting influence of campaign finance: Senator John McCain. In March 1999, McCain wrote a letter urging the FCC to encourage the development of the company's cables. On the last day of that month, Cook, Winnick, and other donors with ties to Global Crossing gave at least $23,000 to McCain's presidential campaign.

This one reaches everywhere and very few on both sides of the aisle are going to look good. We have got to somehow come up with a better system to finance elections but I just have no idea how we can get a handle on all this money for power. Just glad that Terry looks real real bad on this one!

[Helen]

I'm not saying there's a connection, BUT - it seems a little too coincidental that these outfits are stumbling within a few short weeks after financial blocks have been made against Osama and his conglomerate. The flow of crooked money has been interrupted, and now this. Since nothing happens in a vacuum, it seems possible, even plausible, to me that the interrupted flow interrupted more than Osama's finances.

[goodnesswins]

"That graph looks a lot like Enron's downward spiral, seems there might be a pattern to these comapnies that FOB's were involved in. "

That GRAPH ....looks a lot like the graphs of 80% of the Nasdaq over the last year or so......

[cricket]

A perfect picture of McAullife - captures in a 'milisecond' shot, the sum total of his arrogance. . .

. . .words really do shortchange these people. . .

[Quilla]

Interesting point.

[Hemlock]

What is this. A major bankruptcy each week?

You ain't seen nothin' yet.

[deport]

No, I don't have any additional info and I haven't looked for anything else on it. I just remember it from some discussion sometime back. Are stock trades/transactions public records?

[Hemlock]

BEST part Arthur Anderson are the auditors!!!! Do WE have a pattern here???? .... LOL

Don't laugh too hard. If these major corporations keep going belly up, many of us might end up in a soup line.

[muggs]

bttt

[toupsie]

Are stock trades/transactions public records?

As far as I know, they are. I am just not certain where to search for the transactions. Rush was able to list when Ken Lay sold Enron stock so I figure mere mortals such as ourselved should be able to do the same.

[pointsal]

are there any cattle futures available, Terry?

[Sawdring]

What can Greenspan concoct for the North American financial crisis? I think they just papered over the Asian financial crisis and tried to salvage the world economy. It didn't work and there is nothing that can be done now except for weathering the storm. The "New Economy" is going to face the same business cycle every other economy from Tulips to Ponzi have. Too bad for us.

[deport]

Maybe so. But I suspect Ken Lay was operating under different rules than the general public as an officer of the company he was trading in.

[LibertyGirl77]

There are two negative contributions on that list, i.e. PAYMENTS, from democrats. Why would the DNC and Bob Kerrey give him money?

[timestax]

bttt

[rwfromkansas]

bump

[Ken H]

Try this-- Global Crossing Insider Transactions

[Patriot]

23-May-01 PACIFIC CAPITAL GROUP INC 10% Beneficial Owner9,976,781 GXProposed Sale (Form 144). Estimated proceeds of $156,834,997.

23-May-01 WINNICK, GARY Chairman of the Board, Director* 9,976,781 GXSold at $12.38/Share. Proceeds of $123,512,549.

Lots of "big" Sales from Mar - May! 275+ million from just these two!

[Ken H]

See reply 118. Looks like Mr. Winnick cashed in some chips for 123 million in May 2001.