Let's hear McAuliffe

Washington Times ^ | 9/12/02

[kattracks]

The intensifying investigation by the House Energy and Commerce Committee into the bankruptcy of once-highflying Global Crossing appears to be targeting Gary Winnick, the firm's billionaire chairman who cashed out nearly $750 million before the firm collapsed. The bankruptcy cost stock investors more than $50 billion and bond investors billions and billions more. Democratic National Committee Chairman (DNC) Terry McAuliffe exited early, pocketing a reported $18 million profit from a $100,000 investment and millions more trading Global Crossing options.

[Nuke'm Glowing]

It will never happen. That would require the Republicrats in the House to grow something none of them have.

[Humidston]

I'm sorry to say, I totally agree with you.

[Russell Scott]

Yeah, it would be horrible for them to have overwhelming majoritys in both houses by actually doing the right thing.

[Nuke'm Glowing]

Too bad they all are cowards. We could really have exposed Klintoon's corruption in the financial world too. I guess those missing FBI files had plenty of time to be copied and distributed to the DNC.

[kcvl]

Hamilton, Bermuda - September 15, 1999 - Global Crossing Ltd. (Nasdaq: GBLX), which is building and operating the world's most advanced global IP-based fiber optic network, announced today that it has acquired 96 strands of fiber throughout the New York area through a definitive agreement with Telergy, Inc., a leading provider of integrated communication services in New York State and the northeastern United States. The agreement provides Global Crossing with an ownership position in Telergy, and representation on Telergy's board of directors

[kcvl]

Global Crossing is another “Republican enterprise” according to the Chairman of the Democratic Party who defies disclosure in an obscene—nearly impossible—profit from GCL stock. Terry McAuliffe, says GCL Chairman Gary Winnick is a Republican. Terry says it, the leftist media believe it, that settles it. Global will remain Republican in the eyes of the New York Times, the Associated Press, CBS, NBC, ABC, you get the picture.

However, a tiny pulling back of the sheets of history discloses some conflicting evidence. Experience teaches that when a belief is made public, a belief supporting an underlying denial, another reality may be most likely. Bill Clinton’s denials come to mind as do OJ Simpson’s and Usama bin Laden’s. Arafat’s peace proclamations cover his real intentions.


It never ends. McAuliffe was a board member of Telergy, a communications company based in upstate New York, that is going through a Chapter 7 dissolution. Telergy was a private firm, so there are no SEC filings detailing McAuliffe’s involvement. Of course there are no SEC filings available on his involvement with GCL either.

Winnick donated $1 million to the Clinton Presidential Library after McAuliffe arranged a golf game between these two hackers. So, just on the tiny information available, it appears GCL provided the Democrats with $22.7 million; $18 million to McAuliffe, $1 million to Clinton (his library funds have already been used to purchase the Clinton winter home), $1.2 to the Democrats and $2.5 to the one individual who could have investigated GCL’s potential monopoly but did not. Bingaman received, according to the CRP, the largest check from a corporation to a lobbyist in 1999.

So, here’s GCL, a “Republican company” run by a man who gives millions on the table to Democrats. And he’s friends with Democratic criminals as we’ve reported such as Ivan Boesky, Michael Milken and Marc Rich. It would appear without further investigation GCL is not a “Republican company”--lo-and-behold--but a Democratic corporation holding certain values and practices projected by Democrats onto Republicans, most notably “pay offs.” Further, Winnick’s closely held Pacific Capital Group donated $250,000 to the Democratic National Committee and not a penny to the Republican National Committee. The conclusion can be nothing other than Global Crossing is a Democratic company, not Republican. It is therefore not subject to the same media and Senate scrutiny as Enron.

But what is a Democratic corporation? Some as we will see tomorrow, are environmental firms. How can a Democratic company hire a high profile government anti-trust lawyer to protect the firm’s monopoly? The questions are endless. But perhaps there’s a new fire breather, and a spectacularly deceptive one, Democratic Big Business.

[cartoonistx]

Do you mean a spine or what?

[Nuke'm Glowing]

Lower.

[Political Junkie Too]

It will never happen.

I've been hearing this so much that I'm now thinking that I've been hearing this so much that it's been going on for 5, 6, 8 years now. I'm inclined to think that this is about to end and that the American people are cluing into what what is going on.

I sense a whiff of change in the air.

Democrats are losing or struggling. If the "machine" is going to save them, they will have to defy logic in order to do so.

-PJ

[cartoonistx]

Don't I make a great straight man?

[Nuke'm Glowing]

Right down the middle of the plate, lol.

[Libloather]

Mr. McAuliffe served on the board of directors of now-bankrupt Telergy, a Syracuse-based telecom that engaged in revenue-hyping capacity swaps with Global Crossing.

Another good one for the archives...

[Mudboy Slim]

Yep...McAuliffe's fig leaf of a defense is that he had no insider knowledge of the goings-on at Global Crossing, yet his Directorship of Telergy allowed him insider knowledge that the "revenue" GX was claiming was fictitious.

And this is the first I've heard about his trading of GX options...what's that all about?

FReegards...MUD

[Liz]

Huge red flag......and if McAwful had any part in the clearly fraudulent IRU schemes via Telergy, get ready for Terry's perp walk.

[Liz]

............ping..............

[copycat]

In August 1999, Mr. McAuliffe became a Telergy director. In September, Global Crossing invested $40 million in Telergy, a transaction that generated a payoff of $1.2 million to Mr. McAuliffe for, as Telergy put it, "assisting us in raising capital." It was during that same month that Telergy and Global Crossing began participating in the highly questionable practice of capacity swaps.

Anyone remember what month Terry gave the clinton's the money for their house in Chappaqua?

[Magnolia]

Excellent analysis kcvl. Thanks!

[Liz]

In August 1999, Mr. McAuliffe became a Telergy director. In September 1999, Global Crossing invested $40 million in Telergy, a transaction that generated a payoff of $1.2 million to Mr. McAuliffe for, as Telergy put it, "assisting us in raising capital."

Hmmmm. I have a question. Terry's probably calling it a finder's fee. But (depending on the circumstances in which he pocketed the pay-off), might the $1.2M perhaps be termed an "illegal gratuity?"

[Liz]

Here's the original thread on "The Art of Big Business by Democrats" from the Washington Dispatch last February.


http://www.freerepublic.com/focus/news/756450/posts