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To: MurryMom
"If you believe Bush sold his HE stock without unfairly benefiting from inside information, I've got a great deal for you on a bridge...

Because you post on this forum and have done so for a few years I will assume you have evidence of the above. I say this because only a mind numbingly ignorant individual would accuse someone of this without said evidence. Please either produce this evidence or else fold your tent, put on your "I Hate Bush" button and crawl back under your rock.

64 posted on 10/10/2005 5:40:39 AM PDT by Eagles Talon IV
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To: Eagles Talon IV
Here's a timeline surroundin GWB's sale of HE stock, several versions are available via a simple Google search:

June 6, 1990: Bush (who was at the time on Harken's board and a member of its audit committee) received the company's "flash report," which according to the Washington Post, predicted second quarter losses in the neighborhood of $4 million.

June 8, 1990: According to the Los Angeles Times, Ralph Smith, a stockbroker, placed a "cold call" to Bush offering to purchase his Harken shares. Bush said he would reply within a couple of weeks.

June 11, 1990: Bush attended a meeting at which a representative of Harken's audit firm, Arthur Andersen, warned of a loss that "could be potentially significant." Although no amount was specified in the meeting, the auditors indicated that the losses would surpass the $4 million forecast in the "flash report." (In fact, Harken would ultimately report a loss of $23 million.)

June 22, 1990: Shortly after getting the transaction approved by Harken's lawyers, Bush sold 212,140 of his 317,152 Harken shares for $848,560.

July 10, 1990: Under SEC requirements, this was the deadline for Bush to publicly report his sale of the stock. He failed to file the report until March of 1991. For reasons Bush has not explained, although he signed the form, he did not date it.

August 20, 1990: Harken publicly announced second quarter losses of just over $23 million. The stock, which had opened at $3 per share, closed at $2.37.

August 21, 1990: Despite the losses reported the day before, Harken's stock price rebounded to $3 per share. However, the overall trend was downwards, and by the end of 1990 Harken's share price had dropped to $1. (Today, Harken's stock trades for about the price of a candy bar on the American Stock Exchange.)

If this series of events doesn't raise your suspicion, you may be eligible to fill one of the Republican slots on the SEC. Please remember that Republicans in Congress spent jillions investigating the Clinton's losses in Whitewater and never find the slightest suspicion of any wrongdoing by either President Clinton or the first lady, now Senator Clinton.

65 posted on 10/10/2005 6:52:40 AM PDT by MurryMom
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