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Saturday, January 03, 2004

Neil Bush: where is the outrage?

Neil Bush: where is the outrage?

Neil Bush makes one-day profit over $170,000
President's brother exercised stock options in firm he advised
Friday, January 2, 2004 Posted: 5:32 PM EST (2232 GMT)

WASHINGTON (AP) -- President Bush's brother Neil made at least $798,218 on three stock trades in a small U.S. high-tech company where he had been a consultant, according to his tax returns, including $171,370 buying and selling the company's shares in a single day.

Neil Bush's big paydays in the stock of Kopin Corp. of Taunton, Massachusetts, included the July 19, 1999, purchase and quick sale of stock as the company announced good news about a new Asian client that sent its stock value soaring.

Bush said he did not have any inside information from Kopin, and simply acted on a recommendation from his financial adviser.

"Any increase in the price of the stock on that day was purely coincidental, meaning that I did not have any improper information," Bush said in e-mails to The Associated Press. "My timing on this transaction was very fortunate."

The AP obtained Bush's tax returns for the years 1997 through 2001 from a source familiar with his finances.

Bush noted that he lost $287,722 on Kopin stock after the market in high-tech stocks crashed.

Unlike the ordinary investor who buys at the market price, however, Bush benefited from the fact that his stock purchase costs in some cases were minimal because he got a bargain, paying $13 a share when he exercised stock options that were part of his consulting compensation from Kopin. The company's stock price was selling for many times that amount during much of the time Bush was trading. The company granted him 20,000 stock options.

So, when Hillary Clinton made $10K on cattle futures, it was some hidden payoff. Here we have Neil, who has mystery whores sleep with him, makes deal with the Chinese government and engages in a nasty divorce, and there are no outraged columns from MoDo, no carping from Tweety and the rest of the guilty Washington Catholic set.

Yet, all they write about is how Howard Dean is "negative".

Uh, the President's brother is a Chinese agent, in deed if not name and no one seems concerned. Oddly enough, no calls of treason, no Regnery books on how Neil Bush is betraying America with his deals. Nope. Not a word.

Why do conservatives hate America?

posted by Steve @ 1:42:00 AM

1:42:00 AM

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