Self liquidating loan wiki
Rescue came in 1986 in the form of Harken Energy, just in the nick of time.
Instead of criticizing reporters, the president might more wisely begin listening to those in government who have watched his sons with mounting worry.
A year ago, I sat across a desk from a Secret Service agent who had been assigned to Bush-family security. We can’t stop these kids from associating with someone they want to be with.
Such lavish executive compensation would suggest a company doing quite well indeed.
But in reality, Harken had little going for itself.
Under Quasha, Harken suddenly absorbed Junior’s struggling Spectrum 7 in 1986.
The merger immediately opened a financial horn of plenty and reversed Junior’s fortunes.
One Wall Street analyst called Harken’s web of insider stock deals and mounting debt “a lot of jiggery-pokery.” Harken was not making money and could not have continued into 1990 without at least some means of convincing lenders and investors that the company would soon find a lot of oil.
Suddenly, in January 1990, Harken Energy became the talk of the Texas oil industry.
Like the business dealings of his brothers, George’s company was not a success, and it was rescued in 1983 by another oil company, Spectrum 7, run by several staunch and well-heeled Reagan-Bush supporters.