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Bin Laden's bankers
Kerry's record in the BCCI affair, of course, contrasts sharply with Bush's. The current president's career as an oilman was always marked by the kind of insider cronyism that Kerry resisted. Even more startling, as a director of Texas-based Harken Energy, Bush himself did business with BCCI-connected institutions almost at the same time Kerry was fighting the bank. As The Wall Street Journal reported in 1991, there was a "mosaic of BCCI connections surrounding since George W. Bush came on board." In 1987, Bush secured a critical $25 million-loan from a bank the Kerry Commission would later reveal to be a BCCI joint venture. Certainly, Bush did not suspect BCCI had such questionable connections at the time. But still, the president's history suggests his attacks on Kerry's national-security credentials come from a position of little authority.
As the presidential campaign enters its final stretch, Kerry's BCCI experience is important for two reasons. First, it reveals Kerry's foresight in fighting terrorism that is critical for any president in this age of asymmetrical threats. As The Washington Post noted, "years before money laundering became a centerpiece of antiterrorist efforts...Kerry crusaded for controls on global money laundering in the name of national security."
Make no mistake about it, BCCI would have been a player. A decade after Kerry helped shut the bank down, the CIA discovered Osama bin Laden was among those with accounts at the bank. A French intelligence report obtained by The Washington Post in 2002 identified dozens of companies and individuals who were involved with BCCI and were found to be dealing with bin Laden after the bank collapsed, and that the financial network operated by bin Laden today "is similar to the network put in place in the 1980s by BCCI." As one senior U.S. investigator said in 2002, "BCCI was the mother and father of terrorist financing operations."
Second, the BCCI affair showed Kerry to be a politician driven by a sense of mission, rather than expediency--even when it meant ruffling feathers. Perhaps Sen. Hank Brown, the ranking Republican on Kerry's subcommittee, put it best. "John Kerry was willing to spearhead this difficult investigation," Brown said. "Because many important members of his own party were involved in this scandal, it was a distasteful subject for other committee and subcommittee chairmen to investigate. They did not. John Kerry did."
http://www.washingtonmonthly.com/features/2004/0409.sirota.html