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1/25/2018 7:38:29 AM
Posted: 7/18/2002 5:22:05 AM EST
[Last Edit: 7/18/2002 5:31:10 AM EST by Goad]
BUSH: VEEP'S NOT A CROOK By DEBORAH ORIN July 18, 2002 -- WASHINGTON - President Bush yesterday hailed Veep Dick Cheney as "a fine business leader" and said he's confident a federal probe will clear Cheney of any hanky-panky when he ran Halliburton Co. The Securities and Exchange Commission is probing whether Dallas-based Halliburton, while Cheney was CEO, used fuzzy-math accounting to count cost overruns as revenue before clients agreed to pay. Asked if he's confident that the SEC will clear Cheney, Bush replied "Yes, I am" during a news conference with Polish President Aleksander Kwasniewski. "I've got great confidence in the vice president, doing a heck of a good job . . . That matter will take - run its course, the Halliburton investigation, and the facts will come out at some point in time," Bush said. The president brushed off a question about his own business past and why he won't ask the SEC to release records on its decade-old probe of his sale of Harken Oil Corp. stock. The probe resulted in no action. "The key document said there is no case. It was fully investigated by career investigators," Bush replied. Full text found here: (copy and paste) http://www.nypost.com/news/nationalnews/52789.htm I caught 15 minutes of a Fox cable interview with an accountant that gave his expert assessment of the "case against" the Vice President. It was made clear to me that their is no problem. The democRATS are using the Leftist press and the fact that accounting is tough stuff and most college students avoid it, thus the public is largely ignorant of accounting basics. The VEEP's company used one of two accepted and old methods to account for earnings. The idea is to match income with expenses that generated that income. Hypothetical: The VP's company worked employees Sept. thru Dec. but did not get paid for services till Feb. The company recorded earnings Sept thru Dec, and nothing in Feb when the money was received. Then later the company changed accounting to reflect when money was received, rather than earned. This not new or fraudulent. This would be covered in one's second year of college if one emphasized accounting as a study: a major. Class dismissed.
Link Posted: 7/18/2002 5:27:51 AM EST
Originally Posted By Goad: The VEEP's company used one of two accepted and old methods to account for earnings.
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: Lying and cheating?
Link Posted: 7/18/2002 5:32:55 AM EST
[b]Rush[/b] has been discussing this matter lately on his radio show, and had come up with news story, after news story, as well as a New York Times editorial and, of course, the Democrats, that demanded that then-VP candidate Chaney divest himself of all his Halliburton stock. [b]He did.[/b] He made $32 million from the sale of his Halliburton stock, $17 million of which went directly to Uncle Sam in the form of capital gains tax, etc. So [u]now[/u], the New York Times, et al., are excoriating VP Cheney for doing something that they had demanded, and at the very time that they demanded it! Hopefully, this story, like the others, will not have 'legs' as they say on the talking heads shows. Eric The(Republican)Hun[>]:)]
Link Posted: 7/18/2002 5:36:06 AM EST
Originally Posted By Kar98:
Originally Posted By Goad: The VEEP's company used one of two accepted and old methods to account for earnings.
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: Lying and cheating?
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Wanna make a bet, [b]Kar98[/b], that there was no lying and cheating involved at all, and that the company followed 'generally accepted accounting practices' in [u]all[/u] matters? You can pay me when you get here! [:D] Eric The(Wagering)Hun[>]:)]
Link Posted: 7/18/2002 5:37:13 AM EST
"I sniff some politics in the air." — G. W. Bush (Source: MSNBC )
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