Cheney and HAL

The American people were sold a bill of goods, when Karen Hughes said that the people shhould feel good about their new top officials., both accomplished CEOs.

What a bunch of crap!

Cheney and HAL:

A rather different story is told by a class-action investor lawsuit against Halliburton, recently revived after languishing for four years. It describes Cheney as not much different from other corporate titans ensnared by accusations of fraud. Brushing aside facts and subordinates' warnings, CEO Cheney made a series of daring but wrong decisions that were disastrous for the company. The managerial incompetence was compounded by fraudulent accounting gimmicks that concealed the company's true condition. Cheney, however, relentlessly issued bullish assurances, hiding the losses and pumping up the stock price.

Eventually, the truth caught up with the company--its stock tanked--but Cheney was already off to Washington, $40 million richer and running the country. He sold his shares at the top. HAL, the Halliburton stock symbol, began falling a few months after his resignation, from $53 to an eventual low of $8. By then Bush/Cheney were rolling out another bold venture--the invasion of Iraq.