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

Drudge Report ^ | 1/27/02

[Brian Mosely]

Exclusive Developing... GLOBAL CROSSING BANKRUPTCY: GOP INSIDERS QUESTION DNC CHAIRMAN MCAULIFFE PROFIT; TURNED $100,000 INTO $18,000,000

[rightofrush]

Gosh, I hope this sudden windfall doesn't have anything to do with those strange stock purchases connected to the terrorists and the World Trade Center attack. You remember those, right? It was widely reported at first - and then suddenly no one heard another thing about it.

Could it be that those that profited are not to be questioned and their exposure would be embarassing?

[deport]

Correct it was a speech he gave in 1998 I believe and in lieu of his fee ($80,000) he took equivalent stock which had a peak worth of $14 million when the stock peaked out. I don't know when or if he cashed it out nor at what price.

[tonyinv]

This is going to get real ugly..real quick. Enron was the tip of the iceberg, KMart was next mainly attributed to WalMart competition, now Global Crossing. Who's next, and what are the political connections. I suspect we'll be going back over all the dot bombs also. Once the tit-for-tat starts it wont be stopped anytime soon.

The only saving grace is the hypocrisy this will expose on the part of the Democrats. The public has been conditioned to believe Republicans are all about money so it will be business as usual, but the Dems have hung their hats on their compassion and connection with working families.

The media has set a precedent, FOX, the Washington Times, and the NY Post will pick up on this and the others will have to follow (one would hope anyway).

[CedarDave]

Dam*! It caught W's father:

As the value of Global Crossing's stock soared, the company has done its part to share the wealth with the politically connected. In 1998, (Lodwrick)Cook (a company founder) asked former President George Bush to speak at the announcement in Tokyo of Global Crossing's pan-Pacific cable. According to the Wall Street Journal, Winnick suggested that Bush take his $80,000 speaking fee in the form of company stock. Just over a year later, that stock was worth $14.4 million.

Guess what part of the story the press clymers will focus on.

[Patriot]

Sean Hannity is breaking this story right now to Congressman Ackerman (D-NY).

[Brian Mosely]

XXXXX DRUDGE REPORT XXXXX MON JAN 28 2002 20:21:38 ET XXXXX

GLOBAL CROSSING BANKRUPTCY: GOP INSIDERS QUESTION DNC CHAIRMAN MCAULIFFE PROFIT, TURNED $100,000 INTO $18,000,000

**Exclusive**

ENRON-stung GOPers are discreetly eyeing the collapse of GLOBAL CROSSING [which on Monday became the 4th largest bankruptcy in history] and its Chairman Gary Winnick, a top Democrat donor who helped DNC head Terry McAuliffe turn a $100,000 stock investment -- into $18,000,000!

MORE

McAuliffe arranged for Winnick to play golf with President Clinton in 1999 after his cash windfall. Winnick then gave a million dollars to help build Clinton's presidential library.

A top White House source noted, with irony, the direct McAuliffe connection with Winnick and GLOBAL CROSSING.

"McAuliffe is a guy who made millions and millions and millions off this GLOBAL CROSSING stock? And the company goes bankrupt. And he has the gonads to criticizes anyone on ENRON!" blasted the Bush insider who asked not to be identified.

"What did Winnick get for his money? Let's have congressional hearings! Stockholders should demand it! Will Mr. Clinton give back the money?"

McAuliffe, in his role as chairman of the Democratic National Committee, has been a vocal opponent of the ENRON collapse, telling CNN this weekend: "The people out there who are hurt the most are the small people, and once again the wealthy special interests got to take their money off the table, and that's what we need investigate."

But with shares of GLOBAL CROSSING closing at just 30 cents on Monday, and trading suspended after the Chapter 11 deal was announced, McAuliffe faded from view.

For McAuliffe, Global Crossing turned out to be a bonanza. The stock had soared in the late 90s, when Winnick once bragged that he was the "richest man in Los Angeles." McAuliffe operated out of an office in downtown Washington that belonged to Winnick to help him "work on deals."

McAuliffe told the NYT TIMES's Jeff Gerth in late '99 that his initial $100,000 investment grew to be worth about $18 million, and he made millions more trading Global's stock and options after it went public in 1998.

Top GOP insiders where also gloating over GLOBAL CROSSING ties to other ENRON obsessives.

A major fundraising dinner for Senator Tom Daschle was paid for by GLOBAL CROSSING.

Winnick gave thousands of dollars to Rep. Henry Waxman [D-CA] during the last election, according to public records.

Developing...

[Wild Irish Rogue]

Both MacAuliffe and Waxman look like rodents-could you put whiskers on Waxman or do a side by side, with a rat?

[July 4th]

Thanks - this is looking pretty good, and we also have White House commentary!!

[antivenom]

SEAN just mentioned the Drudge story...on H&C!!!!! GOOOO Sean!!!! And promises to follow up on story in the days to come!!!!!!

[zog]

---that's the money shot there, when and why did he cash out?

Would be nice to see boatloads of high flyers all go to the pokey. And have to run a gauntlet of mom and pop little guys who lost big on their worthless stocks on the way to the pokey, too.

[Patriot]

Brian, Stay with it! This one might have legs!

[Republic of Texas]

" 100,000 into 18 million..... darn that's better than President Bush did with the Rangers..... Sheesh.... "

...but Bush left the Rangers as winners.

[July 4th]

Thanks for confirming that for me. My memory has served me correctly.

[antivenom]

Contributor	Occupation	Date	Amount	Recipient
WINNICK, GARY BEVERLY HILLS, CA 09212	PACIFIC CAPITOL GROUP	9/30/1999	$1,000	Hatch, Orrin G
WINNICK, GARY BEVERLY HILLS, CA 90210		3/10/2000	$1,000	Abraham, Spencer
WINNICK, GARY BEVERLY HILLS, CA 90210		3/21/2000	$25,000	NRCC/Non-Federal Account
WINNICK, GARY BEVERLY HILLS, CA 90210		5/17/2000	$1,000	Gorton, Slade
WINNICK, GARY BEVERLY HILLS, CA 90210		9/14/2000	$50,000	NRSC/Non-Federal
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING	12/21/1999	$1,000	Burns, Conrad
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING	2/19/2000	$1,000	Markey, Edward J
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING	3/2/2000	$1,000	Waxman, Henry A
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING	3/2/2000	$1,000	Waxman, Henry A
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING LTD	3/7/2000	$1,000	Feinstein, Dianne
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSING LTD	3/7/2000	$1,000	Feinstein, Dianne
WINNICK, GARY BEVERLY HILLS, CA 90210	GLOBAL CROSSINGS	1/13/2000	$1,000	Robb, Charles S
WINNICK, GARY BEVERLY HILLS, CA 90210	PACIFIC CAPITAL	6/26/2000	$1,000	Dodd, Christopher J
WINNICK, GARY BEVERLY HILLS, CA 90210	PACIFIC CAPITAL CORPORATION	1/20/2000	$10,000	National Republican Congressional Cmte
WINNICK, GARY BEVERLY HILLS, CA 90210	PACIFIC CAPITAL GROUP	12/17/1999	$100,000	RNC/Repub National State Elections Cmte
WINNICK, GARY BEVERLY HILLS, CA 90212		2/14/2000	-$7,000	Democratic National Cmte
WINNICK, GARY BEVERLY HILLS, CA 90212	GLOBAL CROSSING	4/20/1999	$5,000	Committee for a Democratic Majority
WINNICK, GARY BEVERLY HILLS, CA 90212	GLOBAL CROSSING	5/20/1999	$5,000	DASHPAC
WINNICK, GARY BEVERLY HILLS, CA 90212	GLOBAL CROSSING DEVELOPMENT	5/5/1999	$1,000	Reed, Jack
WINNICK, GARY BEVERLY HILLS, CA 90212	GLOBAL CROSSING LTD	8/3/1999	$1,000	Lott, Trent
WINNICK, GARY BEVERLY HILLS, CA 90212	GLOBAL CROSSING LTD	9/14/1999	$1,000	Bayou Leader PAC
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL	6/18/1999	$1,000	McConnell, Mitch
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL	6/18/1999	$1,000	McConnell, Mitch
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL	8/31/1999	$1,000	Conrad, Kent
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL CORP	3/31/1999	$1,000	McCain, John
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL GROUP	7/9/1999	$750	American Success PAC
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL GROUP	5/17/2000	$5,000	American Success PAC
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL GROUP INC	6/7/1999	$1,000	Bush, George W
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL GRP	6/9/1999	$5,000	DNC/Non-Federal Individual
WINNICK, GARY BEVERLY HILLS, CA 90212	PACIFIC CAPITAL GRP	6/9/1999	$20,000	Democratic National Cmte
WINNICK, GARY BEVERLY HILLS, CA 90222	GLOBAL CROSSINGS	8/13/1999	$1,000	Lieberman, Joseph I
WINNICK, GARY LOS ANGELES, CA 90049		3/1/2000	-$1,000	Kerrey, Bob
WINNICK, GARY LOS ANGELES, CA 90049	PACIFIC ASSET	7/27/1999	$1,000	Kerrey, Bob
WINNICK, GARY LOS ANGELES, CA 90049	PACIFIC ASSET	7/27/1999	$1,000	Kerrey, Bob
WINNICK, GARY LOS ANGELES, CA 90049	PACIFIC CAPITAL	12/16/1999	$1,000	Kennedy, Edward M
WINNICK, GARY MR BEVERLY HILLS, CA 90210	GLOBAL CROSSING/CHAIRMAN	2/10/2000	$1,000	Bush, George W
WINNICK, GARY MR BEVERLY HILLS, CA 90212	INFO REQUESTED	9/30/1999	$1,000	Gore, Al

[CedarDave]

But with shares of GLOBAL CROSSING closing at just 30 cents on Monday, and trading suspended after the Chapter 11 deal was announced, McAuliffe faded from view.

Any takers on a bet on how long it will be before McAuliffe shows up on Meet the Pressies again, and whether Timmy will ask him about this?? LOL

[Outraged At FLA]

I forgot, it is illegal to go bankrupt in this country. Oh yeah, it's illegal to lobby, forgot that too..

Sigh.. This whole Enron/Crossing is a pretty pathetic thing to even talk about.

Did people get screwed? Yeah, welcome to the real world people get screwed. Why is it all of a sudden a crime when someone makes money but someone else loses money?

Idiots lost their money because they were completely invested in Enron and didnt follow the GOLDEN rule: DIVERSITY IN INVESTING!

Now every time a company goes bankrupt, there has to be an investigation...

Pathetic..

[July 4th]

Yeah, I know. I really hate the way everyone thinks now after all of the Clinton scandals. So, a company went bankrupt. We must have some reason, right? How about bad business practices? ('oh...it couldn't be that! It has to be fraud...')

DIVERSIFY DIVERSIFY DIVERSIFY!

I must be a criminal. I have both Enron and Kmart stock. At least I haven't lost my shirt...I bought both last week.

[tonyinv]

Your right this is pathetic, but Republicans have refused to turn the Dem's tactics back on them for too years. Its now time to teach these b*st*rds a lesson.

On another note, I think Presidnet Bush is going to win the legal case (regading the Energy Commission), then release the relevant information, probably just the Enron stuff. There will be nothing there and the Dems will look like the Jackasses they are. Bush will have won on the Law and on Principle. The Whitehouse should then turn the spotlight on Democrat meetings and watch them squirm.