Secrets of an Iran Contra Insider
by Al Martin
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by Al Martin
(This new feature column by Al Martin will be updated weekly with information about Washington you won't find in the mainstream media)
What will it be like with George Bush Jr. as president?
It will be a return to the "Bush" form of government -- namely a government of shadowy cliques, secret commissions and de facto star chambers.
The new Bush Administration will probably accelerate the pace of re-arming China to make China the new boogeyman because nobody makes any money unless there's a boogeyman.
The Bush Administration will then use that as an excuse to pump up defense spending, to wit, all defense contractors have given very generously to the Republican Party. Consequently, years later, a new Bush Administration will institute tax cuts for the wealthy and try to eliminate estate taxes which Bush has talked about in the past.
By the end of the first term of a new Bush Administration, all the surplus which is supposed to be used to reduce the national debt and repay the money his father swiped from social security would in fact be absorbed in new spending and tax cuts.
You have to look at the entire Bush Family in this context -- as if the entire family ran a corporation called "Frauds-R-Us."
Each member of the family, George Sr., George Jr., Neil, Jeb, Prescott, Wally, etc., have their own specialty of fraud.
George Jr.'s specialty was insurance and security fraud.
Jeb's specialty was oil and gas fraud.
Neil's specialty was real estate fraud.
Prescott's specialty was banking fraud.
Wally's specialty was securities fraud.
And George Sr.'s specialty?
All of the above.
People ask me -- what about all the heat regarding the National Heritage deal recently profiled on "60 Minutes"?
It's another fraud. The genesis of the fraud is that a partnership was formed to purchase Heritage Life Insurance for $4 million. This partnership involved all of the Bush Brothers, including, by the way, John Gotti. John Gotti was also a member of the partnership.
How did it happen? On a Friday night, this partnership purchased Heritage Life. They proffered a check for four million dollars. The check was worthless. It was no good.
Over the weekend Heritage turned over the keys to its offices in Boca Raton, Florida, all its files. Everything. Over the weekend this new partnership proceeds to transfer $4 million dollars of Heritage Life's reserve capital into its own accounts to cover the check that it had written to buy it.
It's a true story. Then they proceeded to turn Heritage Life into a fraud center. They perpetuated a variety of fraud, specializing in and concentrating in HUD fraud, They would buy busted out HUD properties for $500,000, then list their value on the Heritage books as $5 million dollars. The other four and a half million dollars would simply go into the partnership's pockets. And they did this repeatedly.
Andrew Cuomo, through his father Mario's influence, was hired on as a consultant to the corporation. He was also a member of the Board of Trustees of Heritage Life at $50,000 per year.
When Andrew became Director of HUD, Andrew helped cover up Heritage's scams vis-a-vis HUD. Heritage in turn not only buys up HUD property, but it also becomes its own insurer of HUD property. For example, it would claim that the insurance premium on XYZ property was $1 million a year, when in fact the insurance was only $100,000 a year.
Heritage Life insurance Company was part and parcel of Heritage Financial Group, Heritage Credit Group, Heritage Securities Group, Heritage Banking Group. It was much more than just an insurance company. Heritage was a consolidated financial group involving securities, banking, and insurance.
One of the principals of the company was John Gotti. Among the directors was George Sr., George Jr., Jeb, Neil, etc. These were the directors of the holding company which was called Heritage Group International.
Because of the relationship (Gotti's involvement) Richard Brenneke and the National Brokerage Group become involved in selling Heritage policies and securities.
Richard Brenneke was very close to John Gotti and more importantly was very close to Gotti's superior, Paul Castellano. When it came to pass, Brenneke was head of National Brokerage Group which had a primary securities relationship with Blinder Robinson, Meyer Blinder, the old con artist. National Brokerage Group in turn marketed Heritage product, Heritage insurance, Heritage annuities, Heritage securities and Heritage partnerships, etc.
Andrew Cuomo will become another Franklin Pearce, another scapegoat.
The missing $59 billion dollars from HUD coffers is probably a record, but only in terms of public disclosure.
You know I talked to my shrink today.
I'm practicing my therapy again.
I'm taking blank pieces of paper and putting them through my shredder.
He calls it "relaxation therapy"...
People ask me what should they invest in.
I remember in 1985-86, Secord owned the Canon franchise in Washington DC. It supplied paper shredders to the US Government. True story.
I say invest in Canon because with George Bush in office, it will be black ops and illegal covert operations heaven.
It also reminds me of Ollie North who had lapel pins made up. He thought it was a humorous knock-off of the 1950s slogan, "Better Dead than Red," so he freshened it up.
Remember the Motto of the Day...
Better Shred Than Read.
Beltway Bandits: Amazing Adventures of the Bush Brothers
Keep checking this space regularly for more details...
©2000, 2001, 2002 Al Martin Raw All Rights Reserved