George Walker, GW's great-grandfather, set up the takeover of the Hamburg-America Line, a cover for I.G. Farben's Nazi espionage unit in the United States. In Germany, I.G. Farben was most famous for putting the gas in gas chambers; it was the producer of Zyklon B and other gasses used on victims of the Holocaust. The Bush family was not unaware of the nature of their investment partners. They hired Allen Dulles, the future head of the CIA, to hide the funds they were making from Nazi investments and the funds they were sending to Nazi Germany, rather than divest. It was only in 1942, when the government seized Union Banking Company assets under the Trading With The Enemy Act, that George Walker and Prescott Bush stopped pumping money into Hitler's regime. (1)
George W. Bush, second appointed president of the United States.
-- 1979-83: Fifty Bush family investors and friends, led by uncle Jonathan, a New York Republican Party official and an investment manager, fork over $4.7 million to set up young Bush in a company called Arbusto. It's a flop, and in 1982 gets a new name: Bush Exploration.
-- 1984: Spectrum 7 Corporation, an Ohio oil exploration outfit owned by Dubya's Yalie pal William DeWitt Jr., buys out Bush Exploration, setting up young Bush as CEO at $75,000 a year and giving him 1.1 million shares of the firm's stock. Another flop. The company's fortunes soon sink, with $400,000 in losses and a debt of $3 million.
-- 1986: In the nick of time, Bush and partners merge the failing Spectrum with Harken Oil, a Dallas exploration company, with a $2 million stock purchase. Bush puts up about $500,000 and gets a $120,000 annual consulting fee along with $131,250 in stock options. Harken is a small outfit, looking for oil opportunities within the U.S. Then out of the blue comes Harvard Management Corporation, an investment adviser for Harvard University's endowment portfolio. It pumps millions into the venture.
-- 1990: Although Harken has no international expertise, it gets the attention of the Bahrain National Oil Company, which unexpectedly appears on the scene and bypasses big oil's Amoco and Chevron to sign a production agreement with the little Texas concern. The contract grants Harken exclusive rights to what seems to be a promising offshore area squeezed between two productive tracts owned by Saudi Arabia and Qatar. The Wall Street Journal speculates Bahrain was trying to cozy up to Daddy Bush, who was plotting an assault on Iraq after Saddam Hussein seized Kuwait.
Bass Enterprises Production Company finances the Bahrain drilling with $25 million, and Harvard Management raises its investment. A couple of members of the Fort Worth Bass family have places on Team 100, an elite business group contributing to the Republican National Committee.
In June, Harken drills two dry holes in Bahrain. The future looks bleak. Dubya dumps two-thirds of his Harken holdings (212,140 shares), for $848,560. He uses some of this money to buy into the Texas Rangers baseball club. This is a lot of stock to dump on the market all at once, and brokers say it was purchased by an unnamed institutional investor.
That August, Harken posts a loss of $23 million.
-- January 1991: Daddy Bush attacks Iraq.-- February 1991: Dubya, as the official in charge at Harken, reports his big stock sale to the SEC--eight months late.
-- April 1991: The SEC begins an investigation into Harken dealings. Chairman Richard Breeden, who had been appointed by the senior Bush and served him as an economic policy adviser, hails from Baker & Botts, a big Texas oil law firm where he was a partner. Inside the SEC, James Doty, general counsel and the official in charge of any litigation that might come out of the Harken investigation, is another alumnus of Baker & Botts. And as a private attorney, before joining the government, Doty represented the younger Bush in matters related to Dubya's ownership of the Rangers.
-- 1993: The SEC ends its Harken investigation following perfunctory interviews. The good people of Baker & Botts continued looking out for Shrub. Since 1993, Breeden, Doty, and other lawyers there have given him $182,050 for his various political campaigns, making the firm one of his biggest supporters.(12)
Upon appointment as president, Bush appoints 6 Iran-contra defendants to his staff, (13) fills the upper levels of the White house and pentagon with senior members of the PNAC (14) including his speech writer, chief advisor, secretary of defense, and vice president. Uses the terrorist attacks of 9-11 (16) to illegally invade and occupy Iraq under the false pretense of imminent threat (15) and reaps billions for Cheney's Halliburton, Rumsfeld's Bechtel, and his own family's Carlyle group.
"Bush - Nazi Dealings Continued Until 1951" - Federal Documents
Karl Rove's grandfather was Karl Heinz Roverer, the Gauleiter of Oldenburg. Roverer was Reich-Statthalter- --Nazi State Party Chairman---for his region. He was also a partner and senior engineer in the Roverer Sud-Deutche Ingenieurburo A. G. engineering firm, which built the Birkenau death camp,
Still, that's ancient history. Surely bush wouldn't be repeating the actions of fascist dictators. Or would he?
Behind George W, there are four generations of Bushes and Walkers devoted first to using political networks to pile up and protect personal fortunes and, latterly, to using absolutely any means to gain office, not because they want to do good, but because they are what passes in American for hereditary aristocrats.