Whistleblowers Helped Recover $3.1B in FY06; Halliburton Whistleblowers/Waxman Set New Record in 07?

[CorpGovActivist]

In case you missed this nugget from last week, during the holiday rush:

http://news.morningstar.com/news/DJ/M11/D21/200611211800DOWJONESDJONLINE000782.html

Halliburton whistleblowers - working with such committee chairs as Waxman, Dingell, Frank, and Conyers - may well help set new recovery records in FY '07 and FY '08.

; )

- David A. Smith, Editor of www.HALwhistleblowers.org
(not to be confused, ever again, with David R. Smith, VP of Tax at Dresser Industries, and now at Halliburton)

[stepnw1f]

1. Thanks David

Hope all is well...

[CorpGovActivist]

16. Thanks...

... and happy holidays.

- Dave

[nam78_two]

2. K&R

Thanks for all you do David....

[CorpGovActivist]

33. Thanks!

Judging by the media follow-up the Monday after the holiday, the interest level is growing in the Halliburton scams.

- Dave

[radfringe]

3. with the dems weilding subpoena power

yeah, I can see that record being broken ...
"LET THE INVESTIGATIONS BEGIN!"

[CorpGovActivist]

17. Precisely...

... and amen!

; )

Thanks for the latest toons. I'll get those up on the site later today. We had a death in the family on Thanksgiving.

- Dave

[Minnesota_Lib]

4. Great news.....and let that ball continue to roll.

[Chimichurri]

5. wow! That's a lot of OUR tax dollars. Hope they fry.

[CorpGovActivist]

18. At Some Point, Recovery Isn't Enough...

... and prison terms are warranted.

- Dave

[G_Leo_Criley]

6. thanks! k&r

Hey Dave...

"Halliburton whistleblowers - working with such committee chairs as Waxman, Dingell, Frank, and Conyers"

Sounds like a dream team to me!

:kick:

glc

[CorpGovActivist]

19. That Doesn't Even Include...

... the Senate.

; )

- Dave

[G_Leo_Criley]

24. ha!

Yes-sir-ee -- We have to give the Senate a go at all of it! Fair's fair after all.

Looking forward to the massive unfolding of it all, for sure. :-)

glc

[DemReadingDU]

7. WooHoo, thanks!

:woohoo:

[CorpGovActivist]

34. Hey, DRDU!

Hope your holiday was enjoyable. There's plenty of leftover lame duck, for sure!

; )

- Dave

[radfringe]

8. if you haven't seen today's toon....

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x2808664

[Blackhatjack]

9. K & R w/ "Two Big Thumbs UP!!!" --"We Liked It, ... It's a Smash Hit! "

Let the investigations begin.

"Each hearing will be SRO, as revelations of massive corruption are sure to astound!
The use of special effects will only enhance the amazing and shocking stories told.
The cast of characters required to testify under oath will reveal secrets never before exposed, about corrupt individuals and groups at the highest levels of our government. Dick Cheney, Halliburton, KBR, ... they will all be there! If you plan to see a spectacle this year... make sure Henry Waxman's investigations are on your list."

"Rarely have revelations of real life events created such shock and horror. While each investigation will have an extended run, don't miss a single hearing.... it will be that good!"

"Previews of the testimony to be given by whistleblowers like David A. Smith indicate fireworks will abound from beginning to end. Hold on for the Washington D.C. thrill ride of 2007 --move over Monica, here comes a freight train and Waxman is at the throttle."

[Blackhatjack]

13. Anyone TriedTo Gauge The Total $$$ 'Lost/Stolen/Wasted' By Iraq Contractors?

It will be interesting to start those calculators and tally how much of the Billions appropriated in Iraq was either lost, stolen, or wasted in Iraq.

[CorpGovActivist]

21. I Have a Feeling...

... we're going to see something on the scale of what was done after WW II, to ferret out abuses.

- Dave

P.S. After all, we've been in Iraq longer than we were at war in WW II, so it stands to reason that the scale of graft, corruption, and abuse would be similar.

[CorpGovActivist]

20. Nice Reviews...

... and probably a bit tame!

; )

- Dave

[caseycoon]

10. Great news!

:woohoo:
Thanks David!
:toast:

[Stargazer99]

11. It seems to me if tax payers are really concerned where their

tax money is going, instead of screaming about those mothers and children on welfare start screaming about those companys with plenty of money and still draining the till.

[radfringe]

12. I refer to the big-buck give-aways and tax breaks etc

as WEALTH-yFare

[CorpGovActivist]

35. Stargazer: Mercury Visible This Month; Response to Your Point

http://www.google.com/search?hl=en&lr=&q=mercury+visible+2006

To your point: yes, I agree - the scale of what corporations like Halliburton are getting away with is breathtaking, and the assault on the powerless is truly skewed.

When you've sat in a Halliburton/KBR seminar on how the company planned to use the bankruptcy laws to escape its asbestos-related liabilities, it's hard to stomach the notion of welfare and bankruptcy "reform" aimed at working moms and dads seeking a fresh start.

- Dave

[Blackhatjack]

14. Give This a K & R and Keep It Visible For Others To Discover ... n/t

[conscious evolution]

15. Kick

[Buttercup McToots]

22. Sarbox Rollback Report Due November 30

http://www.cfo.com/article.cfm/8313658/c_8317584?f=home_todayinfinance&x=1

Sarbox Rollback Report Due November 30
Treasury Secretary Paulson, and Sarbox 404 critics, await the findings of a blue-ribbon panel charged with dissecting the rules.
Sarah Johnson, CFO.com
November 27, 2006
Treasury Secretary Henry Paulson — who claims the Sarbanes-Oxley Act is having an ill effect on U.S. competitiveness and the nation's audit firms — could receive documented support for his theory next week from a blue-ribbon committee he formed earlier this year.

The Committee on Capital Markets Regulation, an independent group Paulson introduced in September, is expected to release a study on November 30 that promotes the rollback of Sarbox. The group's members include Donald Evans, a former Bush Administration economic adviser, and John Thorton, who reported to Paulson when they headed Goldman Sachs, as well as academics and professionals from the business, financial, investor, legal, and accounting communities. Their charge is to explain whether Section 404 of Sarbox, which requires management to assess internal controls over financial reporting, is forcing U.S. public companies to cede potential growth to foreign and private markets. Furthermore, the group is being asked to determine whether Sarbox creates a liability for public company "gatekeepers," such as auditors and directors.

advertisement During a speech given earlier this week at the Economics Club of New York, Paulson said executives won't find what they are looking for from the current regulatory regime. "Businesses and auditors are searching for something that doesn't exist in today's constantly changing world — a rules-based safe haven that still provides investors with an accurate portrayal of a company's financial performance," he said. Paulson also questioned whether Sarbox requirements result in the high-quality audits the law was set up to deliver.

In his speech, the Treasury Secretary also blamed Sarbox for not giving auditors enough latitude to make principles-based determinations. "Auditors should be able to focus on one fundamental objective — ensuring the integrity and economic substance of management's financial statements," he said. "To get there, we must recognize that accounting is not a science. It is a profession, requiring judgments that cannot be prescribed in a one-size-fits-all manner that undermines the usefulness of financial statements to investors." Indeed, during the presentation, Paulson called on regulators to amend Sarbox by taking a more principles-based approach. "New accounting and governance rules, which, while necessary, are being implemented in a way that may be creating unnecessary costs and introducing new risks to our economy," he asserted.

He warned regulators to avoid falling into the trap of thinking new rules translate into ethical behavior, noting that while "proper corporate governance processes increase the likelihood that well-intentioned people will do the right thing…they do not guarantee such an outcome. In my judgment, we must rise above a rules-based mindset that asks, 'Is this legal?' and adopt a more principles-based approach that asks, 'Is this right?'"

While Paulson has credited regulators for responding to Enron's collapse and other corporate scandals with new rules aimed at instilling investor confidence and playing a role in economic recovery, he has suggested the corrective measures were too onerous. "Often the pendulum swings too far and we need to go through a period of readjustment," he said three weeks after taking over as Treasury Secretary, a role that does not have the authority to change governance-related regulations.

Still, the findings of the report, which Paulson claims are a priority for him, are likely to garner plenty of press and pique the interest of the new Congress. As a result, Sarbox 404 critics are sure to make their case vigorously between now and December 13, when the Securities and Exchange Commission holds an open meeting to consider recommendations regarding the internal-controls provision.

[conscious evolution]

23. Interesting think tank

The Committee on Capital Markets Regulation


Time for some googling

[CorpGovActivist]

30. Congressional Oversight of the SEC - Crucial Base Covering from 06 to 09

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/10/AR2006111001542.html

It is going to become ever more important for Congress to exercise its oversight powers over the SEC in this lame duck period of 43's Presidency - especially given the current SEC Chairman's political pedigree: http://www.google.com/search?hl=en&q=chris+cox+pslra

- Dave

[Buttercup McToots]

36. Bump...up

and Good Nicht...
I am weary...

[conscious evolution]

25. Did some searching

In the article Corp referred to this company's name appeared: EAGL Inc. I did the
http://www.sec.gov/edgar/searchedgar/companysearch.html thing on them.

This is one of their latest filings http://www.sec.gov/Archives/edgar/data/1001718/000100171806000058/f20061115planeleaseexh99none.htm

At first glance it just seemed like a standard aircraft lease that any corporation might do.Then my tin-foil hat kicked in and I started to wondeif the plane had been used in the rendition program.So far I haven't found any connection and it is probably a dead end and that I need to loosen the tinfoil a bit.

But then,at the bottom of the lease,I found this.
'
'If to Lessor:

JRC Citation, LLC

Tel:

281-618-3274

15350 Vickery Drive

Fax:

281-618-3269

Houston, TX 77032




Attn: Margaret Barradas




If to Lessee:

EGL Eagle Global Logistics, L.P.

Tel:

281-618-3100

15350 Vickery Drive

Fax:

281-618-3442

Houston, TX 77032




Attn: CFO and General Counsel'

The company that owns the aircraft is located at the same address as the company that is leasing it!WTF!!
Is it me or are they still padding the bills?
There sure appears to be more to this than meets the eye.

[Buttercup McToots]

26. I like this article...It sez it all...

missed it last week...
http://consortiumnews.com/2006/111106a.html

Bush's Belated Accountability Moment
By Nat Parry
November 12, 2006
After securing a second term in November 2004, George W. Bush was asked by the Washington Post why no one in his administration had been held accountable for the problems facing U.S. troops in Iraq. Bush replied dismissively, “We had an accountability moment, and that’s called the 2004 elections.”
The President echoed that sentiment two weeks before this year's Nov. 7 balloting, rejecting the notion that the midterm elections could serve as a check on his administration. Accountability, Bush said, is “what the 2004 campaign was about.”
But it appears Bush may have spoken too soon. With the Democratic sweep of Congress, the White House finds itself confronting the likelihood of a more systematic and more rigorous form of accountability from congressional Democrats newly armed with subpoena powers. Rep. John Conyers, who has been holding investigative hearings into administration wrongdoing from the Capitol basement because the Republican congressional leadership denied him a committee room, now stands poised to become chairman of the House Judiciary Committee.
Though handicapped in his earlier investigations, the Michigan Democrat unearthed and documented a staggering array of White House deceptions that led the United States into war, as well as evidence of other abuses such as torture, warrantless domestic surveillance by the National Security Agency, and erosion of civil liberties. Constitution in Crisis Conyers's 350-page report, “Constitution in Crisis,” deals with the so-called Downing Street Minutes, which revealed that the Bush administration was “fixing” the intelligence on weapons of mass destruction to justify a pre-ordained policy of war against Iraq.
The “single overriding characteristic running through all of the allegations of misconduct … has been the unwillingness of the Bush Administration to allow its actions to be subject to any form of meaningful outside review,” the report said.
snip>

That dynamic could change with the new make-up of Congress. Not only will Conyers be chairing the Judiciary Committee, but Henry Waxman, D-California, will be taking over the House Committee on Government Reform.
Complementing Conyers’s investigations into pre-war manipulations of intelligence have been Waxman’s investigations into administration favoritism toward Halliburton, which was formerly run by Vice President Dick Cheney.
The Texas-based company has profited handsomely by securing no-bid contracts for everything from rebuilding in Iraq, to supplying U.S. troops with food, to repairing government facilities damaged by Hurricane Katrina, to building detention facilities in the U.S.
snip>
“It is unseemly,” noted Lautenberg, “for the Vice President to continue to benefit from this company at the same time his administration funnels billions of dollars to it.”
Another issue that could be explored by Waxman’s committee is the content of the Energy Task Force meetings during the early days of the Bush administration. Though ordered by a federal judge to release the task force records completely, the administration heavily redacted the 13,500 pages of documents.
Before turning the records over to the Natural Resources Defense Council as ordered by the judge, the administration removed extensive portions of information. “Some pages were empty,” said the NRDC. “Whole strings of correspondence were stripped to just a few words.”
Nevertheless, the records revealed that energy industry lobbyists played a pivotal role in developing the administration’s national energy strategy, and actually wrote much of it themselves.
“The administration sought the advice of polluting corporations early and often and then incorporated their recommendations into its policy, sometimes verbatim,” according to the NRDC.
snip>
Oil Fields
Though most attention on the Energy Task Force has focused on the perceived impropriety of oil companies dictating national energy policy, another concern is that the energy companies may have influenced the administration’s decision to invade Iraq.
In 2004, reporter Jane Mayer disclosed a National Security Council document dated Feb. 3, 2001. It instructed NSC officials to cooperate with Cheney’s Energy Task Force, explaining that the task force was “melding” two previously unrelated areas of policy: “the review of operational policies towards rogue states” and “actions regarding the capture of new and existing oil and gas fields.”
Mayer’s discovery suggests that the Bush administration in its first days recognized the linkage between ousting the likes of Saddam Hussein and securing oil reserves for future U.S. consumption. In other words, the Cheney task force appears to have had a military component to “capture” oil fields in “rogue states.”
The NSC document reinforced allegations made by Bush’s first Treasury secretary, Paul O’Neill, who described a similar early linkage between invading Iraq and controlling its vast oil reserves.
In Ron Suskind’s The Price of Loyalty, O’Neill described the first NSC meeting at the White House only a few days into Bush’s presidency. An invasion of Iraq was already on the agenda, O’Neill said. There was even a map for a post-war occupation, marking out how Iraq’s oil fields would be carved up.
O’Neill said even at that early date, the goal of invading Iraq was clear. The message from Bush was “find a way to do this,” according to O’Neill, who was forced out of the administration in December 2002.
Combined with the Downing Street Minutes, O’Neill’s account provides substantial evidence that the Bush administration had decided early on to invade Iraq, and simply decided on weapons of mass destruction as the most convenient pretext for war.
snip>
Words of Caution
Another investigation-worthy topic about the run-up to war is how the Bush administration dismissed and rejected words of caution from knowledgeable sources inside and outside the U.S. government.
Although many Bush defenders now claim that no one could have foreseen what a disaster the war would turn out to be, there were those who urged caution before the invasion, including members of Bush’s own administration.
Brent Scowcroft, national security adviser under George H.W. Bush and chairman of the Foreign Intelligence Advisory Board under George W. Bush from 2001 to 2005, said a strike on Iraq “could unleash an Armageddon in the Middle East.”
Also, retired Gen. Anthony Zinni, who served as a Middle East envoy for George W. Bush, warned in October 2002 that by invading Iraq, “we are about to do something that will ignite a fuse in this region that we will rue the day we ever started.”
America’s closest ally in the invasion, the United Kingdom, also had strong reservations. Although publicly British officials supported Bush’s calls to forcibly “disarm” Iraq, behind the scenes, they worried that the war was poorly conceived, possibly illegal and potentially disastrous.
Internal government documents disclosed in 2005 by British journalist Michael Smith indicate that British officials foresaw a host of problems, including weak intelligence on Iraq, lack of public support for war and poor planning for the aftermath of military action.
The investigations by John Conyers and Henry Waxman – both armed with subpoena powers – could connect the dots linking Cheney's Energy Task Force, oil companies, Halliburton, pre-war deceptions and poor post-invasion planning.
The results of that investigation might shock the American people, adding to public pressure for impeachment.
Off the Table?
Though incoming House Speaker Nancy Pelosi has declared impeachment of Bush and Cheney “off the table,” it's unclear what would happen if the White House chooses to stonewall congressional oversight or if investigations turn up damaging evidence of grave abuses of power.
Already, there are those such as former Nixon administration counsel John W. Dean who argue that Bush-Cheney’s crimes are worse than Richard Nixon’s and are grounds for impeachment.
There is also a fledgling grassroots movement for impeachment that could gather force in the coming months, emboldened by the Democratic victory. In Philadelphia, activists, lawyers and a former member of Congress held a forum this weekend to launch a new movement for impeaching Bush and Cheney.
Pelosi’s own constituents in San Francisco voted decisively on Election Day to endorse Bush and Cheney’s removal from office. Proposition J, which called for impeachment, passed with the 59 percent of the vote.
In his presidential news conference the day after the election, Bush was asked if he was “prepared to deal with the level of oversight and investigation that is possibly going to come from one chamber or two in Congress?”
Bush replied that the Democrats “are going to have to make up their mind about how they’re going to conduct their affairs.”
If it is left up to the likes of Conyers and Waxman, who seem to have already made up their minds, Bush might finally learn what an “accountability moment” really means.

:wow:

[DemReadingDU]

31. Tis a very good article!

Thank you for finding this!

[Joe Chi Minh]

32. I don't think this moment, this "tempus", of accountability, is going to "fugit"

for them very quickly AT all; for a who-o-o-o-o-le slew of 'em.

[Buttercup McToots]

27. Wanta Funds

Can someone explain to me in English, about the Wanta Funds?
:think:

[conscious evolution]

28. The story I heard

Can not vouch for the accuracy of story though.

Reagon gave Ambassador Leo Wanta Several Billion $$$ to fight Soviets in Afghanistan.It was put in secret accounts but little was ever spent.Now Wanta wonts to give it back to US treasury.Others are trying to prevent it so they can steal it.Bushco is supposedly up to their eyeballs in it.

That is the way I heard it but I am probably way off the mark.Googleing it turns up so much strange stuff concerning the matter that it is hard to figure out what is really going on.

[Subdivisions]

29. Keep up the good work, Dave! eom

[goforit]

37. Outstanding !! Hats off to Smith!

[lonestarnot]

38. Right on GCA! I did miss it, and it's a gem! Thanks.

[Buttercup McToots]

39. Good Mornin`

:)

[G_Leo_Criley]

40. good mornin'

:-)

glc

[Buttercup McToots]

41. Good Nicht ...

Sleep weel...
I'll be back soon...

[DraftJenna]

42. Imagine how much more money we can recover!

Liquidate Halliburton and Bectel!!!!

This would be an excellent way to set our economy back on track.

I bet we could get some money back from Ken Lay as well. He still owes California Billions.

[CorpGovActivist]

44. Enron and the California Dems

"I bet we could get some money back from Ken Lay as well. He still owes California Billions."

I have it on good authority that the California Dems - along with a few suprise GOP votes from the delegation - plan to push for a full investigation into Enron.

- Dave

[DemReadingDU]

45. "Gentlemen, start your retainers."

One sector of big-money Washington is eager for a reinvigorated Congress: White-collar defense lawyers.

"Nearly every committee of Congress likely will participate in oversight on a broad array of issues," the memo predicts, "including those that are well anticipated, like Iraq redevelopment fraud, and those that are sometimes overlooked by the press, such as hedge fund oversight. Importantly, while the popular press will focus on high-profile actions like subpoenaing senior government officials or investigating Bush Administration failures, a broad range of private sector companies also will face scrutiny."

The new Congress will be busy ferretting out "sweetheart contracts, administrative cost overruns, waste and fraud, and narrow appropriations earmarks," the slick marketing piece predicted. Also at risk are "ompanies that played a role in what are perceived as Bush Administration failures or abuses" like Katrina and the president's warrantless wiretapping program. And even though Enron was a long time ago, Covington also sees "corporate abuses" as a target area.

Are you an executive at a telecom involved in the NSA's wiretapping program? Did your company get a sweet no-bid contract in Iraq? Well, Covington's soon-to-be booming "congressional investigations practice" boasts such luminaries as Lanny Breuer, who was President Clinton's Special Counsel during impeachment proceedings, and Robert Kelner, who has represented the RNC in the New Hampshire phone jamming case.
http://www.tpmmuckraker.com/archives/002052.php

click to read the 4-page memo
http://www.talkingpointsmemo.com/docs/covington-oversight/?resultpage=1&

[Buttercup McToots]

43. Good Mornin`

:)

[DemReadingDU]

46. Bump up!

:)