Monday, October 3, 2011

Funding a Republican near you

In a development that would make Ronald Reagan proud, it turns out that some of the wealth that has bankrolled the Tea Party and other conservative causes comes from sales of petrochemical capital to Iran. Bloomberg reports
A Bloomberg Markets investigation has found that Koch Industries -- in addition to being involved in improper payments to win business in Africa, India and the Middle East -- has sold millions of dollars of petrochemical equipment to Iran, a country the U.S. identifies as a sponsor of global terrorism.

Internal company documents show that the company made those sales through foreign subsidiaries, thwarting a U.S. trade ban. Koch Industries units have also rigged prices with competitors, lied to regulators and repeatedly run afoul of environmental regulations, resulting in five criminal convictions since 1999 in the U.S. and Canada.

From 1999 through 2003, Koch Industries was assessed more than $400 million in fines, penalties and judgments. In December 1999, a civil jury found that Koch Industries had taken oil it didn’t pay for from federal land by mismeasuring the amount of crude it was extracting. Koch paid a $25 million settlement to the U.S.
The Bloomberg article goes on to describe how Koch industries has stolen, lied, polluted, bribed and killed. One of Koch's employees called it, "the Koch method."

KochPAC has been a major contributor to Rick Perry, Michelle Bachmann, and other Republicans. Don't hold your breath, however, waiting for any of them to give any of that money back.

2 comments:

Preston said...

You seem to uncritically approve of the Blomberg article you cite. Others are more questioning: here for example, or here, or, most recently, here. Truth, like beauty and contact lenses is in the eye of the beholder.

Dave Ribar said...

Preston:

How are these cites relevant to what I posted. The first focuses on whether Koch Industries' sales to Iran were illegal. I never wrote that they were. Does that make the Koch's Iranian windfall any better or more acceptable for you?

Are you arguing that Koch Industries hasn't sold anything to Iran (the company admits doing so), hasn't stolen (a civil jury disagrees and Koch has paid a hefty fine), hasn't lied (Koch Industries pleaded guilty to a federal charge), hasn't illegally polluted (numerous examples where Koch has paid fines and been convicted), hasn't bribed (company admits this happened but blames it on rogue employees), and hasn't killed (a Texas jury found otherwise)?

Remember, these are folks who are arguing that we don't need none of that guvmint regulation, we can regulate ourselves. They sold to Iran, stole, lied, polluted, bribed and killed WITH the guvmint watching them. Imagine what they would do without those constraints.