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Tuesday, Oct 25, 2005

Shame on You!



As the US government puppets attack George Galloway, the UK Member of Parliament for allegedly profiting from the Iraqi Oil for Food Programme, perhaps they ought more properly to widen their campaign for honesty and justice and look more carefully at their own internal affairs.


The Carlyle Group, closely connected with the Bush family and Haliburton, not to mention Bechtel Corporation have all profited from the illegal invasion of a sovereign state. Look here:


One of the largest problems in current Western government, is the level of sheer corruption and the incestuous links between big business and politicians.


Let’s go back in time: Margaret Thatcher and Ronald Reagan conspired to send Freddy Laker’s transatlantic Skytrain airline into bankruptcy! Why? Since Thatcher wanted British Airways to be the darling of her privatisation policy. Laker’s low-cost business model, later adopted by all airlines, including BA, under the “Go!” brand, became the norm. However, at the time, his presence threatened BA’s float.


She persuaded Reagan, to persuade McDonald Douglas to cancel Laker’s line of credit on his fleet of DC10s. His strategic mistake, was to base his revenue stream in pounds sterling but oblige himself to debt service and repay capital in US dollars. As the US dollar zoomed against a weak pound, he was crushed in a financial vise!


Interestingly, he later sued, under the Sherman Anti-Trust law, and received an undisclosed (multi-million US dollar) sum in damages.


Examine the record of one Jeb Bush: interesting!


Now, let’s fast forward: most of the oil, emerging from the Oil for Food programme, finished up with the majors: US majors! If Galloway is prosecuted, then so ought the CEOs and directors of the refiners! No chance, since they are locked in, cheek-by-jowl with Dubya’s closet advisers.


Research the legacy of US oil trader, Marc Rich: it makes interesting reading! Look here:


Whether or not Mr Galloway profited from any illegal act, I know not: personally, I don’t think he did. His mistake, was to oppose the illegal invasion of Iraq and to have the temerity to diss Congress.


We need more like him!


Michael C Feltham


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