Wednesday, August 13, 2008

Cheney as a war profiteer

Aside from the favors that Cheney was able to throw to his buddies in the oil industry, it looks like Cheney was able to enrich himself while giving no-bid contracts to his buddies in Halliburton and KBR. To add insult to injury, the work that they did was so sub-standard that it has killed our servicepeople.

Some of Cheney's defenders have tried to draw a line between KBR and Halliburton, based on the fact that they are different companies. But that is a fairly recent development. According to the relevant Wikipedia article:

On April 15, 2006, Halliburton filed a registration statement with the United States Securities and Exchange Commission to sell up to 20 percent of its KBR stock on the New York Stock Exchange (NYSE). On November 16, 2006, KBR shares were offered for the public in an Initial Public Offering with shares priced at $17. The shares closed on the first day up more than 22 percent to $20.75 a share.[2] Halliburton announced on April 5, 2007 that it had finally broken ties with KBR, which has been its contracting, engineering and construction unit as a part of the company for 44 years.