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October 24, 2006
Bush profits
The LA Times ran a front-page article Sunday with the headline Bush’s Family Profits From “No Child” Act . President Bush’s brother, Neil, runs the company and his parents (Bush 41) are investors.
The implication seems to be that it’s bad for Neil Bush to run a company that sells products that help school districts reach the goals laid out by the “No Child” act.
It is consistent with the pervasive view that if there is a connection between for profit companies and government officials, there has to be something illegal or unethical happening behind the scenes. No proof is required to establish guilt, only an association.
Why?
Most of us in business prefer to do business with friends and people we know. It makes sense. I certainly support full prosecution of those who benefit illegally, but I’m offended that association equals guilt.
I believe the Times, knowing most readers will read the headline only, should be more responsible – or wait until they have proof that Neil Bush profited illegally – before running a headline like this on the front page.
After Katrina, Barbara Bush made a large donation (maybe $30,000) for relief. She earmarked the entire sum for Neil Bush's company.
There does seem to be a pattern in this family of propping up the business failures of their kin, such as GWB's Arbusto oil enterprise. That's all to the good, as long as it's their own money being circulated internally. When the taxpayers get involved, it becomes something else. I recall the Texas taxpayers getting a bum ride on the Rangers and their stadium, for example, when it became clear that GWB did not have the acumen to make a success of that franchise.
Posted by: Upstart at October 28, 2006 09:41 AM