In any case, this is all just intellectual masturbation. Our ranting will not affect anything one way or another. Particularly when you realize that politicians will do whatever the hell they feel like anyways as long as all the right people are kept happy.
Monday, November 7, 2005 6:08:32 PM
Then you might say there is a possibility that if the company went bankrupt it would be unable to make the deferred payments. That raises the theoretical possibility of a conflict of interest -- if the public interest somehow demanded that Cheney take action that would hurt Halliburton it could conceivably end up costing him money personally. So to insulate himself from that possible conflict, Cheney purchased an insurance policy (which cost him$14,903) that promises to pay him all the deferred compensation that Halliburton owes him even if the company goes bust and refuses to pay. The policy does contain escape clauses allowing the insurance company to refuse payment in the unlikely events that Cheney files a claim resulting "directly or indirectly" from a change in law or regulation, or from a "prepackaged" bankruptcy in which creditors agree on terms prior to filing. But otherwise it ensures Cheney will get what Halliburton owes him should it go under. Everyb
Monday, November 7, 2005 6:06:24 PM
Okay, I will concede that he got $398,548 in office as part of his deferral if you concede that that money was actually made by him in 2000 (before he was elected VP), and therefore did not create a conflict of interest. Also, legally, Halliburton can't increase or reduce the amount of the deferred compensation no matter what Cheney does as vice president. So Cheney`s deferred payments from Halliburton wouldn`t increase no matter how much money the company makes, or how many government contracts it receives.