MEJ reader Raymond A. Orr sent me an email with the chart to the left from his own site OrderFromRandomness.com. Raymond says the following;
I’m with you that a major motive in Cheney’s mind for taking the country to war in Iraq was to fix his catastrophic mistake at Halliburton. In fact, almost anyone who makes a multibillion dollar blunder at one job and then is able to make decisions that would fix the blunder at another job, would be hard pressed to sort out motives in the decision making process. For Cheney it would be especially difficult because of his narcissistic personality disorder.As you can see in the chart Halliburton began a descent towards bankruptcy shortly after Cheney became VP, largely as a result of things that happened while Cheney was CEO, and was only able to pull out of the downward spiral after the start of the invasion of Iraq. Cheney of course profited from this and yes this would be war profiteering by any definition.
While most Americans know Cheney was associated with HAL, I estimate that only 1 in 200 knows Cheney had taken the company on an imminent path to bankruptcy and the war’s privatization contracts saved Cheney from massive public humiliation. It of course had nothing to do with increasing the value of his stock options.