Much has been written over the past month about President George W. Bush’s activities while at Harken Energy. This is, indeed, a significant history: in the early 1990s Bush made thousands of dollars in an offer that reeks of the same insider trading and accounting fraud the chief executive now promises to oppose.

15 million that now constitutes the larger part of his personal fortune. If anything, this story is more revealing even. 600,000 investment in the Rangers was 2,400 percent. Where does all this money come from and what did Bush do to get it? Much of the story plot was first reported nationally by Joe Conason in a February 2000 article for Harpers Magazine. A written report from the public-interest group, Center for Public Integrity, and recent columns on July 16 in the New York Times by Paul Krugman and Nicholas Kristof have loaded in some of the facts. 500,000 loan from a bank or investment company on whose plank of directors he had once served.

Bush used the arises from his doubtful sale of Harken stock to settle this loan. Bush’s formal title was “managing partner.” He served essentially as a public face, whose main responsibility was to wait the true home football video games. Edward Rose, another wealthy Texas Rainwater’s, and investor associate, were responsible for the actual business procedures of the team. The top priority for the new Rangers owners in increasing the value of their holdings was to acquire a new stadium. That they had no intention of spending money on the stadium themselves, so they threatened to move the united team if the town of Arlington did not foot the bill. The city government readily agreed to a generous deal.

190 million. The remainder was raised through a solution surcharge. Thus, local baseball and taxpayers fans financed the entire cost of the stadium. 5 million per year. The syndicate was also given a property tax exemption and sales tax exemption on products purchased for use in the stadium. City residents finished up subsidizing these tax breaks for the Rangers owners by paying higher local rates. This plan was sold to Arlington voters with Bush’s help.

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200 million without placing down a penny of their own money. However the boondoggle didn’t end there. Within the deal, the Rangers syndicate got a sizable chunk of land in addition to the stadium. This land naturally increased in value as a result of the stadium’s construction.

On November 8, 1993, with the stadium being readied to open up the following spring, Bush announced that he would be running for governor. Thomas Hicks is a wealthy Texas financier and leveraged buyout specialist. Among the wealthiest individuals in Texas, he is chairman and chief executive of Hicks, Muse, Tate & Furst, a conglomerate that invests in a variety of companies.