Friday, December 03, 2004

The 9/11 Profit Centre

Once upon a time, all right-thinking pundits were outraged at the idea that someone in government during 9/11 could make money from the experience. For instance, Richard Clarke was the White House's anti-terrorism coordinator in the runup to 9/11 and earlier this year published a book critical of his own role but more generally of the entire White House in failing to prevent the attack. America spoke, as it always does, through the voice of NBC's Tim Russert:

MR. RUSSERT: The book is dedicated to those who were murdered on September 11 and you apologize to the families. Would you consider giving the royalties or profits from the book to the children of those families who were murdered?

MR. CLARKE: Tim, long before Senator Frist said what he said [that Clarke was capitalising on the tragedy], I planned to make a substantial contribution, not only to them but also to the widows and orphans of our Special Forces who have fought and died in Afghanistan and Iraq. And when we see the results of the book sales, we'll know how much we have to make donations


So with that principle well established, it's surely only a matter of time before Rudy Giuliani gets asked the same question. Because 9/11 has been very very good to him:

Only weeks after leaving office, Mr. Giuliani set up a consulting firm with a dozen of his former City Hall aides. In two years, the firm has earned tens of millions of dollars by assembling an extremely broad range of clients, jumping almost immediately into the ranks of the nation's most prestigious consulting firms, according to two industry guides ...

Mr. Giuliani's consulting firm, Giuliani Partners L.L.C., announced today that it was forming a new investment banking firm that will acquire Ernst & Young's investment banking practice for an undisclosed price.

The new investment banking firm, to be called Giuliani Capital Advisors L.L.C., will advise companies on deals like acquisitions and restructurings.


Surely Rudy won't object to sharing the same percentage as Clarke with the victims' families?

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