A Washington Bank, A Global Mess (Riggs Bank, the GOP and Terrorism)

[mobuto]

For those of you who don't live in Washington, the Riggs National Bank is controlled by the Houston-based Allbritton family, which has for decades been virtually synonymous with the Republican Party. They provide much better service than the national chains, which is why I have my accounts there, but then of course I don't receive the service afforded Saudi terrorists or African dictators. Joe Allbritton owns a media empire of local television affiliates, and is a longtime close, personal friend of George H. W. Bush.
---


EACH January, in honor of Gen. Robert E. Lee's birthday, a group of Washington's movers and shakers gather to rub elbows at the Alfalfa Club dinner. Wizened, impressive and until recently entirely male, the Alfalfa roster includes presidents, politicians, diplomats and business impresarios, all bound together by being either formidably influential or fabulously rich.

Attendees have included luminaries like Prince Bandar bin Sultan, Saudi Arabia's ambassador to the United States; Jack Valenti, the president of the Motion Picture Association of America; and others with surnames like Greenspan, Kissinger and Rehnquist. President Bush and Vice President Dick Cheney made their first joint public appearance after the Sept. 11 terrorist attacks at the Alfalfa gathering in 2002.

--snip=--

Until late February, Riggs managed $360 million worth of Equatorial Guinean accounts that federal investigators say were controlled by that country's dictator. The accounts were largely funded by proceeds from deals with Exxon Mobil, the oil company. Federal investigators say they are scrutinizing those accounts to see if they involve the proceeds of political graft or were used to bribe executives of any American companies, according to an individual with direct knowledge of the investigation. The problems with the Equatorial Guinean accounts also prompted the Office of the Comptroller of the Currency last month to warn Riggs that it plans to label it a "troubled" institution, meaning that the bank would have to cede significant managerial authority to the government.

--snip--

Until the Sept. 11 attacks, Saudi officials often rolled into a Riggs branch on a Friday and withdrew millions of dollars for, say, a weekend splurge in London, according to individuals familiar with the transactions. Even after the attacks, when Saudi institutions were criticized by federal officials for possibly financing terrorism, it took Riggs more than a year to begin tightening its oversight. A year ago, the bank says, it cautioned the Saudis, as well as embassies from other countries, that the no-questions-asked era was coming to an end.

--continued--

http://www.nytimes.com/2004/04/11/business/yourmoney/11riggs.html

[boobooday]

1. Where the deals go down

And where women are still mostly excluded, and where the cancerous cells gather to multiply their toxins.

We need a major shakedown of our corporate system. Nothing else will restore democracy in this country.

http://www.wgoeshome.com

[cosmicdot]

6. "We need a major shakedown of our corporate system"

it's the gating issue of all issues as far as I'm concerned -- you're absolutely spot on ...... but, will it be? I'm not holding my breath after watching the candidate I felt most able to confront America's problems ... marginalized (and, more) by the Media, 'New' Democrats and the whole campaign financing obstacle

[sam sarrha]

2. and no chance of "RICO" showing up either i bet.

[ultramega]

3. Another "Ruthless dictator"? (Obiang)

Isn't this the kind of dictator whom we like to depose?

What is the difference between a good dictator and a bad dictator? One who does everything as Bush want's it, as opposed to one who considers selling oil in euros.

[mobuto]

4. There are good dictators as well

who do business with Riggs.

From the article:

Until the Sept. 11 attacks, Saudi officials often rolled into a Riggs branch on a Friday and withdrew millions of dollars for, say, a weekend splurge in London, according to individuals familiar with the transactions. Even after the attacks, when Saudi institutions were criticized by federal officials for possibly financing terrorism, it took Riggs more than a year to begin tightening its oversight. A year ago, the bank says, it cautioned the Saudis, as well as embassies from other countries, that the no-questions-asked era was coming to an end.

[DulceDecorum]

7. Saddam was a good dictator

The Shah of Iran was a good dictator.
Adolf Hitler was the best dictator,
but
Dubya may supersede them all.

Incidentally, up until Jonathan Bush of Riggs was told to part with all the money paid into Obiang's account (minimum 300 million CASH)
the president of Equatorial Guinea was a good dictator.
Now he is just "a gonad-eating cannibal."

[cosmicdot]

5. how many of Poppy's trustees were there? Albritton? Valenti?

Poppy Bu$h Presidential Library Foundation - Trustees
(do they all get an annual retainer fee?)

* Member of the Board of Directors

Don A. Adam
Bryan, Texas

Joe L. Allbritton
Washington, D.C.

Thomas Ludlow Ashley *
Washington, D.C.

Hushang Ansary
Houston, Texas

James A. Baker, III
Houston, Texas

Dexter Baker
Allentown, Pennsylvania

Perry R. Bass
Fort Worth, Texas

Sam Bamieh
San Mateo, California

Bruce Benson
Denver, Colorado

Griffin B. Bell
Atlanta, Georgia

Katherine E. Boyd
Hillsborough, California

Jack Blanton
Houston, Texas

Daniel B. Burke
New York, New York

Nicholas F. Brady
Easton, Maryland

Jonathan J. Bush
Killingworth, Connecticut

Governor John Ellis Bush *
Miami, Florida

Neil M. Bush
Houston, Texas

Marvin P. Bush
Alexandria, Virginia

William H.T. Bush
St. Louis, Missouri

Prescott S. Bush, Jr.
Greenwich, Connecticut

John T. Cater
Houston, Texas

James W. Cicconi *
Washington, D.C.

William P. Clements
Dallas, Texas

Tony Coelho
Alexandria, Virginia

Lodwrick M. Cook *
Los Angeles, California

Dan W. Cook, III
Dallas Texas

Mr. & Mrs. Earle Craig
Midland, Texas

Edwin L. Cox
Dallas, Texas

Trammell Crow
Dallas, Texas

Harlan Crow
Dallas, Texas

Barbara Fish Daniel
Houston, Texas

Walter Curley
New York, New York

William H. Draper
Atherton, California

Robert A. Day
Los Angeles, California

Nancy Ellis
Boston, Massachusetts

Archie W. Dunham
Houston, Texas

Max M. Fisher
Detroit, Michigan

William S. Farish, III
Versailles, Kentucky

Craig L. Fuller
McLean, Virginia

Laurie Firestone
Newport Beach, California

Richard L. Gelb
New York, New York

Brad M. Freeman
Los Angeles, California

C. Boyden Gray
Washington, D.C.

H. Laurance Fuller
Chicago, Illinois

Adele Hall
Shawnee Mission, Kansas

Preston M. Geren, Jr.
Fort Worth, Texas

Mr. & Mrs. Henry Hillman
Pittsburgh, Pennsylvania

Michel T. Halbouty
Houston, Texas

Bobby Holt *
Midland, Texas

John M. Hennessy
New York, New York

Ray L. Hunt
Dallas, Texas

Eric Hilton
Los Angeles, California

Dorothy Bush Koch *
Bethesda, Maryland

Roy M. Huffington
Houston, Texas

Jack Laughery
Rocky Mount, North Carolina

Donald M. Kendall
Purchase, New York

J. Hugh Liedtke
Houston, Texas

Terri Lacy *
Houston, Texas

John H. Lindsey *
Houston, Texas

Kenneth L. Lay
Houston, Texas

Cary Maguire
Dallas, Texas

Carl H. Lindner, III
Cincinnati, Ohio

Frederic V. Malek
Washington, D.C.

Donald B. Marron
New York, New York

Louis Marx
New York, New York

Lynn Martin
Chicago, Illinois

Frederick D. McClure *
Dallas, Texas*

Elvis Mason
Dallas, Texas

G.V. "Sonny" Montgomery
Meridian, Mississippi

William A. McKenzie
Dallas, Texas

William P. Moss
Dallas, Texas

Robert Mosbacher
Houston, Texas

Edward N. Ney
New York, New York

Brian Mulroney
Canada (Honorary)

Gerald L. Parsky
Los Angeles, California

Fred M. Zeder
Rancho Mirage, California

Sigmund Rogich
Las Vegas, Nevada

Dan Quayle
Scottsdale, Arizona (Honorary)

Roy Ryu
Seoul, South Korea

Susan Porter Rose
McLean, Virginia

Arnold Schwarzenegger
Santa Monica, California

William A. Schreyer
Plainsboro, New Jersey

Peter Secchia
Grand Rapids, Michigan

Brent Scowcroft *
Washington, D.C.

Samuel K. Skinner
Chicago, Illinois

Melvin F. Sembler
St. Petersburg, Florida

Alex Spanos
Stockton, California

Joshua Smith
Potomac, Maryland

Robert H. Stewart
Dallas, Texas

Jacob Stein
Hicksville, New York

John H. Sununu
Washington, D.C.

Robert S. Strauss
Washington, D.C.

Robert Waltrip
Houston, Texas

Jack Valenti
Washington, D.C.

John F. Welch
Fairfield, Connecticut

Jerry Weintraub
Burbank, California

Richard D. Wood
Indianapolis, Indiana

Gary Winnick
Beverly Hills, California

Gordon Zacks
Columbus, Ohio

Stephen A. Wynn
Las Vegas, Nevada

John D. Macomber
Washington, D.C.

http://www.georgebushfoundation.org/bush/asp/OverView/Trustees.asp

[BostonTeaParty04]

8. Wonder if this bank is mentioned in the missing 28 pages?

I really wonder.

What was it that bush said? Follow the money????

[mobuto]

9. Well, Riggs bankrolled the Mexican-American War...

[amandabeech]

10. Well, "they" all had to go somewhere after BCCI closed.

Anyone know what's going on with the investigation in the U.K.?