Kaptur Wants Investigation of Possible Conflict of Interest in Ports Deal

[LiberalHeart]

Congresswoman Marcy Kaptur (Ohio) is calling for an investigation of Treasury Secretary John Snow's connection to the ports deal recently approved by the White House. She sniffs a possible conflict of interest -- and this story spells out why she's concerned (Snow stands to potentially make big bucks from the deal):

http://wtol.com/Global/story.asp?S=4545028

[oasis]

1. Slimy GOP bastards would sell their grandmas to make a quick buck.

:grr:

[LiberalHeart]

2. I just heard on local TV that Snow "welcomes" an investigation...

Yeah, right. Snow is a former Toledoan, so Marcy is going after someone from her own hometown.

[oasis]

3. He's not going to volunteer any information. That much I can guarantee.nt

:eyes:

[wordpix2]

4. just as suspected, Snowjob's got a fat pension in this deal and more

WHAT A SLIMY BUCKET OF DEAD WORMS!

snip:
Congresswoman Kaptur said she's concerned because Secretary Snow used to be the CEO of the CSX Corporation which, in 2004, was acquired by Dubai Ports World. She tells News 11 Snow has a deferred compensation package with CSX worth millions of dollars. She said the package includes a special retirement pension.

News 11 asked the US Treasury Department about Kaptur's concerns. They gave us this response: "Secretary Snow has no contact or financial interests with CSX. He is not involved in the review of the transactions" surrounding the CSX deal or the sale of the ports. Treasury also told us, "...in this particular case there were no security issues involved. Homeland Security took part in the review and has more of a role about security."

The Treasury Department also says the review of this sale didn't require Secretary Snow's review and never involved his vote on the issue.

[LiberalHeart]

5. The more I'm finding on this, the worse it looks....

Just found this Kos:

Former Snow employee Sanborn left his gig at Dubai Ports two weeks ago to accept the job as Assisstant Secretary of Transportation - Maritime Administration. Introduced to the Senate, by the way, by his good buddy, Senator George Allen.

Link for the above and more: http://www.dailykos.com/story/2006/2/20/17574/4805

[LiberalHeart]

6. Here's some more about Snow and Sanborn...

http://www.nydailynews.com/front/story/393375p-333478c.html

[seafan]

7. Al Franken said today that Snow stands to make a killing on this deal,

according to his research. He referred to pending deferred stock options, and $72.5 Million in compensation when he left CSX in 2002/early 2003, as Carlyle Group was buying up a chunk of the company.

Al said he personally called the Treasury Department, asking about how much of a bundle Snow will make off this port sale deal, and Treasury has not returned his call.


It's obscene, the kind of money this is.

[wordpix2]

8. re: Carlyle Grp---Poppy is no longer senior advisor so what's his connec-

tion now? Anyone know?

[LiberalHeart]

9. Here's some info on Carlyle's investment in CSX

http://www.findarticles.com/p/articles/mi_m0EIN/is_2002_Dec_17/ai_95538572

Daddy Bush would have still been involved with Carlyle in 2002. I think he stepped down in 2003. It's amazing how money just keeps moving into the same hands.

[LiberalHeart]

10. Sheik from UAE contributed at least $1 million to Bush Library

News report:

A sheik from the United Arab Emirates contributed at least $1 million to the Bush Library Foundation, which established the George Bush Presidential Library at Texas A&M University in College Station.

[LiberalHeart]

11. Video of Kaptur (re Snow)

The Kaptur link has been updated today to include video of Congresswoman Marcy Kaptur talking about the Snow situation: http://wtol.com/Global/story.asp?S=4545028