September 11 Commission Report - Gnostic Liberation Front

scandal. The Bush enterprise was able to legalize investments and aid in Azerbaijan, thus
enabling them to continue their standard pump and dump practice of oil stocks. Equally
important, it allowed the Bush enterprise to push billions of US taxpayer dollars from Aid
for International Development, the Overseas Private Investment Corp. and the Export
Import Bank through the Riggs Bank, where they were taking their percentage whether
the investments paid off or not.
It seems as though the Bush family had been setting up its own international banking
pipeline to compete with the Deutschebank. This would prove to be the Riggs Bank,
with its small set of global offices providing banking services to nearly every foreign
embassy in the US.
“CAMBRIDGE, MA – January 1, 2005 – On December 31st, the Wall Street Journal's Glenn Simpson
reported that Riggs Bank, currently under federal investigation for failure to comply with anti-money
laundering laws, has longstanding ties to the CIA. Riggs is being investigated for failing to report
suspicious transactions involving the accounts of Saudi Ambassador Prince Bandar, former Chilean
dictator Augusto Pinochet, and Teodoro Obiang, the current President of Equatorial Guinea. The
relationship was significant enough that top Riggs executives received U.S. government security
clearances; Simpson also noted that both Pinochet and Prince Bandar have worked with the CIA in the
past. However, the nature of the bank's relationship with the CIA is largely unknown.” [The Public
Accountability Initiative]
“On July 21st, following the revelation that Riggs had also aided dictator Augusto Pinochet in hiding
money looted from the Chilean national treasury, Bush stated, "It's important for the facts to be en la
mesa, as we say, on the table...Riggs Bank is being fully investigated, and they'll be investigated in a
very open way."
Press reports have also noted that George W. Bush's uncle, Jonathan Bush, heads a subsidiary of the
bank. However, other significant ties between the Bush administration, federal banking regulators, and
Riggs officials have never been publicly disclosed Riggs & Co. Vice Chairman and Director J. Carter
Beese is a close associate of George W. Bush and the Bush family. He was a Bush Pioneer in 2000 and
a leading donor to the Bush Florida recount effort. He holds a presidential appointment and has
served as a confidential advisor to George W. Bush on the nomination of high-level regulators at the
Securities and Exchange Commission. In 1992, following more than a decade of service to the Bush
family's political endeavors, George H. W. Bush appointed Beese to the post of SEC Commissioner.
Beese also helped to found the Carlyle Group, a conglomerate with historical ties to the bin Laden
family and George H. W. Bush. While serving as an executive at Alex. Brown, Beese was mentored
closely by A. B. Krongard, appointed by George W. Bush as Executive Director of the CIA, the third
highest-ranking position at the Agency.” [New Evidence in the Riggs Case: The Bush
Administration's Links to the "Bank of Presidents"A Public Accountability Initiative Report,
10/15/2004]
“Beginning in administration of George H.W. Bush, Riggs forged an unorthodox financial relationship
with the Department of Treasury. As a major contractor, Riggs provides data processing, account
management and software development services for the Federal government. Through a partnership
with the Treasury Department's Financial Management Service, Riggs manages the Federal
government's financial flow and reconciles its accounts. The bank has collected an estimated $3
million per year in fees from the Federal government for the service and beat out many larger banks to
win the account.” [New Evidence in the Riggs Case: The Bush Administration's Links to the "Bank of
Presidents" A Public Accountability Initiative Report, 10/15/2004]
“Under the Bush Administration, Riggs has also been a major recipient of Federal assistance through
the Eximbank. Over the past four years, Riggs has received Federal-backed financing for export
transactions to nations such as Bulgaria, Venezuela, Nigeria and Brazil.39.”[New Evidence in the
THE SEPTEMBER 11 COMMISSION REPORT Page 313