Daily Revolt

May 13, 2007

In Private Sector, Giuliani Parlayed Fame Into Wealth

Little discussed surrounding the myth of Giuliani is his using 911 "fame" to cash in. It is a classic example of how politicians use public service to line their pockets. This raises the question of how much baggage the presidential candidate brings to the campaign. Is he another Cheney, using his office to promote policies that his wealthy friends and undermine national security:
The letter he dispatched to the city Conflicts of Interest Board that day asked permission to begin forming a consulting firm with three members of his outgoing administration. The company, Giuliani said, would provide "management consulting service to governments and business" and would seek out partners for a "wide-range of possible business, management and financial services" projects.

Over the next five years, Giuliani Partners earned more than $100 million, according to a knowledgeable source, who spoke on the condition of anonymity because the firm's financial information is private. And that success helped transform the Republican considered the front-runner for his party's 2008 presidential nomination from a moderately well-off public servant into a globe-trotting consultant whose net worth is estimated to be in the tens of millions of dollars.

Sounds a lot like the Bushies:
Famously loyal, Giuliani chose as his partners longtime associates, including a former police commissioner later convicted of corruption, a former FBI executive who admitted taking artifacts from Ground Zero and a former Roman Catholic priest accused of covering up sexual abuse in the church.

Giuliani, grounded in the intricately connected world of New York politics, has been more than adept at making the system work for his clients. They have included a pharmaceutical company that, with Giuliani's help, resolved a lengthy Drug Enforcement Administration investigation with only a fine; a confessed drug smuggler who hired Giuliani to ensure his security company could do business with the federal government; and the horse racing industry, eager to recover public confidence after a betting scandal.

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