Wednesday, November 5, 2008

Getting Even: A Start

OK, troops, the investment guru is here to help you clear the deck of those Bush-tainted stocks.

Let’s start with the premise that companies that sold their souls to the Bush Administration will be persona non grata. Foremost among those are Halliburton and its subsidary Kellogg, Brown & Root, who, according to the Project for Public Integrity, won record amounts in contracts from the Defense Department during the Bush years. War profiteers, pure and simple. The bottom of the scum pond.

AT&T has been a huge Bush contributor, with Verizon making major soft money contributions, as have Philip Morris and UPS. Other biggies are MBNA America Bank, Fedex, the late and not so lamented Enron, Merrill Lynch, Pfizer and AOL.

The Texas-based Wylie family, which owns the Michael's stores (where I have bought art supplies in the past), among other large properties, was a big donor. Michael Dell of Dell Computers—mine just croaked and it will be replaced by something else—was a significant supporter. George David, head of defense contractor United Technologies Corp., which had $84 billion in federal contracts in 2002, is a Big Bushie.

Other large companies in the Bush camp: Credit Suisse First Boston, Citigroup's Salomon Smith Barney, Merrill Lynch, AXA Group, and Bank of America. You might note that some of those have come upon hard times. I'm so sorry.

If you’re looking to dump stock in these companies because of their support of the worst, most corrupt administration since the 19th Century, e-mail my buddy Pete Krull (pictured), whose schtick is ethical investing. That would preclude the Bushies. And it would make you feel like you’d just had a nice financial enema. (My investments, with Pete directing them, have done well throughout the current markets, by the way.) He’s at And, no, lovely people, I have nothing to gain by recommending him except for the satisfaction that the economic chickens come home to roost for people of questionable motive.

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