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| For Immediate Release | |
| Mar 4, 2001 | Contact: Press Office 202-646-5172 |
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Conflict of Interest Could Cause Problems For America’s Foreign Policy in Middle East and Asia (Washington, D.C.) Judicial Watch, the public interest law firm that investigates and prosecutes government abuse and corruption, called on former President George Herbert Walker Bush to resign immediately from the Carlyle Group, a private investment firm, while his son President George W. Bush is in office. Today’s New York Times reported that the elder Bush is an “ambassador” for the $12 billion private investment firm and last year traveled to the Middle East on its behalf. The former president also helped the firm in South Korea. The New York Times reported that as compensation, the elder Bush is allowed is allowed to buy a stake in the Carlyle Group’s investments, which include ownership in at least 164 companies throughout the world (thereby by giving the current president an indirect benefit). James Baker, the former Secretary of State who served as President George W. Bush’s point man in Florida’s election dispute, is a partner in the firm. The firm also gave George W. Bush help in the early 1990’s when it placed him on one of its subsidiary’s board of directors. “This is simply inappropriate. Former President Bush should immediately resign from the Carlyle Group because it is an obvious conflict of interest. Any foreign government or foreign investor trying to curry favor with the current Bush Administration is sure to throw business to the Carlyle Group. And with the former President Bush promoting the firm’s investments abroad, foreign nationals could understandably confuse the Carlyle Group’s interests with the interests of the United States government,” stated Larry Klayman, Judicial Watch Chairman and General Counsel. “Questions are now bound to be raised if the recent Bush Administration change in policy towards Iraq has the fingerprints of the Carlyle Group, which is trying to gain investments from other Arab countries who would presumably benefit from the new policy,” stated Judicial Watch President Tom Fitton. Judicial Watch noted that even the Clinton Administration called on the Rodham brothers to stop their business dealings in Georgia because those dealings started to destabilize that country. |
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