Geithner & Kissinger Associates–pt. 2

by Chris Sturr | November 28, 2008

From Bob Feldman:

Treasury Secretary Designate Geithner’s Kissinger Associates Connection–Part 2

Between 1986 and 1989, U.S. Treasury Secretary-Designate Timothy Geithner was employed at Henry Kissinger, Brent Scowcroft and Lawrence Eagleburger’s Kissinger Associates influence-peddling firm, which also employed George W. Bush’s former special envoy to Iraq, L. Paul Bremer, during the early 1990s. Commerce Secretary-Designate Bill Richardson also is a former employee of Kissinger Associates.

Among the political influence-peddling firms in the United States, “Mr. Kissinger and his associates are by all accounts the most successful of this new breed of former senior Government officials,” according to the April 20, 1986 New York Times Magazine article, titled “Kissinger Means Business: Corporate America is eagerly seeking Henry Kissinger’s insight and celebrity.”

The “Kissinger Means Business” article also implied that the motive of these former and current senior Government officials for moving back-and-forth between U.S. foreign policy-determination roles and private influence-peddling position was generally a mercenary one, asserting that “many of these former Government leaders asked themselves, why not capitalize on our stardom, international contacts and insider knowledge to make large incomes on our own.”

In 1986, U.S. Treasury Secretary-Designate Geithner’s former colleagues at Kissinger Associates—Kissinger, Scowcroft and Eagleburger—peddled their special influence to 25 to 30 corporate clients in exchange for payments from their clients that totaled $5 million in Kissinger Associates gross income. Each political influence-purchaser paid Geithner’s former employer between $150,000 and $420,000 per years for its services because, as former New York Times national security correspondent Leslie Gelb observed in 1986: “The super-star international consultants were certainly people who would get their telephone calls returned from high American Government officials and who would also be able to get executives in to see foreign leaders.”

When I telephoned the Kissinger Associates office in Manhattan in early 1991 to ask who some of its clients were at that time, a spokesperson for Kissinger Associates replied: “That’s all confidential.” The April 20, 1986 New York Times Magazine article indicated, however, that besides the Kuwaiti government-owned Midland Bank of Britain, the Kissinger Associates client list–at the time Treasury Secretary-Designate Geithner was employed by Kissinger Associates–included H.J. Heinz, American Express/Shearson Lehman, Fiat, Volvo, ASEA, L.M. Ericsson of Sweden, Montedison of Italy, the International Energy Corporation, Atlantic Richfield/ARCO and the Fluor Corporation.

Although Henry Kissinger was the sole owner of Kissinger Associates when Geithner was employed by his firm, former National Security Affairs Adviser Brent Scowcroft and former Deputy Secretary of State Lawrence Eagleburger each received hefty salaries when they worked as Kissinger’s partners in influence-peddling, prior to assuming their influential posts in the Bush I Administration in 1989.

To further attract foreign government-owned corporations like Midland Bank of Britain as influence-purchasing clients, Kissinger Associates also established a board of directors that included the following international corporate establishment figures around the time that Treasury Secretary-Designate Geithner was employed by Kissinger Associates: former U.S. Treasury Secretary William Simon; former Citibank Chairman of the Board Edward Palmer; former U.S. Under-Secretary of State William D. Rogers; then-S.F. Warburg Chairman Lord Roll; then-Atlantic Richfield/ARCO Chairman Robert O. Anderson; then-Volvo Chief Executive Office Pehr Gyllenhammar and former Japanese government foreign minister Saburo Okita. (end of part 2)

–bf

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