Friday, December 10, 2010

It's Okay if You Are A Republican- Dick Cheney Edition

Here's an amusing story, via Think Progress:

"Halliburton May Pay $500 Million To Nigerian Government To Settle Case And Keep Cheney Out Of Jail...GlobalPost goes on to note that “Cheney and three other top executives could face sentences of three years in a Nigerian prison if convicted of the charges in the 16-count indictment.” One has to wonder how the employees and stockholders of the company feel about it possibly sacrificing half a billion dollars to keep Cheney and other executives out of jail."

Just to give some perspective on this amount, Halliburton's average annual tax payments to our country over the last five years are $301.2 million.  The $500 million amount of this bribe is over a quarter of Halliburton's annual income.

I have spoken before about executives' supposed fiduciary responsibility to stockholders, which seems to go out the window when the executives have a chance to dip their hands in the corporate trough.  Can there be a worse example of this criminal behavior?  Of what possible value is it to the shareholders of Halliburton to keep this washed up crook, who nearly bankrupted the company when he ran it, out of a Nigerian jail? 

Still, watch.  The bribe will be paid, Cheney will go free, and not one of our Washington pundits will see a thing wrong with the whole thing.

1 comment:

Poll P. said...

Wose, they'l write the bribe off as a necessary busines expense,a nd save paying taxes on the income.