Halliburton Responds to Larry Klayman's Supersillyous Suit(My Title)

CBS Market Watch "Big Charts" Web Site ^ | 7/10/2002 | MarketWatch.com

[SierraWasp]

12:57PM Halliburton responds to Judicial Watch lawsuit (HAL) by Michael Baron Halliburton (HAL) is off 30 cents, or 2.1 percent, to $13.82, in midday action. The company is out with a press release responding to a lawsuit filed by Judicial Watch, a Washington, D.C.-based legal watchdog group. The suit alleges fraudulent accounting practices at Halliburton took place during the period when current vice president Dick Cheney served as its chairman and CEO. Halliburton called the claims in the suit, "untrue, unsupported, and unfounded." The company continued: "We are working diligently with the SEC to resolve its questions regarding the company's accounting procedures. Halliburton has always followed and will continue to follow guidelines established by the SEC and GAAP, General Accepted Accounting Principles."

[Mo1]

Yes I do think of all those things .. Cheney is not new to politics and I think he knows exactly how the Rats work. I don't think he would except the job of VP if there was a problem with his working at Halliburton.

The Democrats and Larry (with this suit) are only interested in trying to dig up dirt to smear the Bush Administration for their own personal gain ..

For Larry to come out saying that Cheney will be impeached due to this suit without having the facts of the case just shows what agenda Larry has

I also find it interesting the Liberal Media are singing the praise of JW and Klaymen .. A person who they spent years trashing in the media but now are embracing as their hero

[Fred Mertz]

I don't think Ticky Dick Cheney counted on Halliburton's stock value declining by 75% since he departed.

[deport]

I don't think Ticky Dick Cheney counted on Halliburton's stock value declining by 75% since he departed.

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Hmmmmmm do you reckon anyone else did either..... that's the markets.... plus good old trial lawyers

[Amelia]

*sniffle* I'm just SO HAPPY for you!

[Amelia]

Question: Don't you think that Dick Cheney, when considering the job as Bush's running mate, took very careful measure of his past, any skeletons in his closet, etc., knowing that ALL of his "laundry" was going to be brought out by the media and by campaign opponents?

Yes, I do. Also, the other thread last night (with the people who "know their stuff" commenting on it) was very interesting.

The gist of it as I understood it (and anyone else is welcome to read and correct me if I misunderstood, it's linked above somewhere) is that Halliburton's business is quite large and complicated, the accounting for such a business is of necessity quite large and QUITE complicated, knowledgable people could disagree on how to handle some transactions with such a large complicated business, but Halliburton seemed to be doing what it was supposed to be doing, given the info available in the press.

The other impression I got was that Halliburton had a very good reputation.

Now I'm wondering just how many of these people claiming that "Halliburton was cooking the books with Cheney's help" not only have no knowledge of accounting whatsoever, but can't even figure out their own taxes, much less the accounting of a multinational corporation.

[Clara Lou]

Now I'm wondering just how many of these people claiming that "Halliburton was cooking the books with Cheney's help" not only have no knowledge of accounting whatsoever....
Fred Mertz, with his very unoriginal and unfounded "Ticky Dick" [sic] remark (see post #2,385), springs to mind as one of their number..

[Amelia]

The part that really bothers me is that some of these people act as though they are acting directly off Carville's talking points.

I don't understand it.

[FreedominJesusChrist]

"You didn't answer my questions or Luis' question about Donato's buckitos."

This thread is not about Donato's "buckitos". If you want to discuss it, start another thread.

[FreedominJesusChrist]

"Don't you think that Dick Cheney, when considering the job as Bush's running mate, took very careful measure of his past, any skeletons in his closet, etc., knowing that ALL of his "laundry" was going to be brought out by the media and by campaign opponents? In other words, wouldn't he have very carefully weighed his Halliburton background before agreeing to run? He seems way too sharp for there to be any "there" there. What do you think?"

That depends on whether or not he would believe this to be a big enough skeleton to not want Cheney as a running mate. Perhaps the few mistakes in the past greatly outweighed the benefits Cheney might bring in as a running mate.

Besides, we all know that Bill Clinton had plenty of skeletons in his closet and that didn't stop him from winning the presidency.

[FreedominJesusChrist]

"You don't know a thing about the SEC, nor the Markets . I have no idea just where you got the idea that the SEC monitors every single thing that is said / done . Yes, they have issued regulations; most of which have caused far more harm than good, as is the case with so many governmental agencies. If the " alll powerful / all seeing / all knowing " SEC monitors EVERYTHING , then how is it, that Redbone was able to turn Miz HITLERY's 1,000 dollars into 100,000 dollars , illegally </B., oh so easily. BTW, it was NOT the first time that he had pulled off this kind of scam ( yes, dear, the SEC had chastened / punished him previously, for the same garbage ! ), nor was she the ONLY person, whom he had done it for. BTW ... the guys in Chicago, ALL laughed their collective socks off, at HRC's explinations. They ALL knew exactly how it had been done. You see, dear, the CBOT had long ago BANNED Redbone. The SEC didn't do a damned thing. Yes, dear, I DO know what I am talking about; unlike you."

Of course independent regulatory commissions have extensive authority in establishing and enforcing regulations. The SEC does regulate the buying and selling of stocks and bonds and oversees the operation of stock exchanges, to protect investors against fraud and other investment malpractices.

Any securities being offered for sale must be registered with the SEC. Stock exchanges, such as the New York Stock Exchange, muset follow numerous SEC regulations. The SEC regulates and monitors the percentage of cash down payment which must be paid for stock bought on the margin. The sale of futures, which are commodities purchased presently to be delivered at a later date, is closely regulated and monitored. The SEC also closely monitors and regulates mutual funds and I believe that you know what those are.

The SEC has the power to directly take action against violators of its regulations and it may also refer certain cases to the Attorney General for prosecution.

The SEC should have been investigating Halliburton a long time ago.

[FreedominJesusChrist]

We all know that in 1995 Halliburton was prosecuted and even plead guilty to trading with Libya, which is of course, a terrorist state on the U.S. watch list.

Deb, had you considered before that perhaps there is an embargo against this type of trade with Libya, because it is a terrorist state?

Either way, it looks as if Halliburton has already been busted for shady dealing.

Terrorist countries who hate the United States sure make good business partners, right Deb?

[FreedominJesusChrist]

I understand that I have not taken an accounting class. But I feel that I have as much a right to comment on this subject as you do. I do not recall ever hearing that you are an accounting expert or a financial advisor of any sort. I do know a little bit about the stock market from my dad, but as I said before, I have has much a right to commment on this subject as you do.

[Amelia]

The first part of your post sounds as if it's taken from some FAQ page somewhere. Stock Market for Dummies, maybe?

The SEC should have been investigating Halliburton a long time ago.

Based on what?

[Amelia]

But I feel that I have as much a right to comment on this subject as you do.

Sure you do, it would just help if you had some idea what you were talking about, rather than pulling opinions out of thin air.

I do not recall ever hearing that you are an accounting expert or a financial advisor of any sort.

I do have a minor in business, which makes my financial background rather elementary - but does give me a very basic knowledge - which is better than none.

Also spent about 15 years in the corporate world, and have a little more experience in the adult world (sorry, but it's true) than some people here.

[Clara Lou]

Based on what?
Why, based on her very knowledgeable and worldly experience, of course-- and just because she says so.

[FreedominJesusChrist]

Well, it's not. I just made sure that I carefully worded everything.

Well the 1995 Libya deal should have been a red flag for the SEC to keep a close eye on Halliburton.

[FreedominJesusChrist]

I am especially careful when I reply to nopardons, as she has a tendency to overreact.

[deport]

The SEC has the power to directly take action against violators of its regulations and it may also refer certain cases to the Attorney General for prosecution. The SEC should have been investigating Halliburton a long time ago.

The SEC IRS has the power to directly take action against violators of its regulations and it may also refer certain cases to the Attorney General for prosecution. The SEC IRS should have been investigating Halliburton 'eWW" a long time ago.

Yep they should have gotten the 'eww' on the witness stand many moons ago... especiallys since he has nothing to hide.....

[Amelia]

And Since NOBODY is above the law.

[deport]

And Since NOBODY is above the law.

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Yes , No One, not even "ethical Washington Watchdogs"