Barr was personally promoted by Trump
But like other swamp creatures, the web is complex
He has long been a fool not to play both sides of the coin
And he comes at a crucial time in the 2020 campaign
Two seemingly contradictory things were announced
First, at least 500,000 fake tickets were found
The second is that he thinks the results should be recognised for any amount of cheating
Now Trump has decided to fire him
It was a relief for both sides
Forbes reports on Barr’s tens of millions of dollars
NPR reports Barr was fired just before Christmas
President Donald Trump announced on Twitter Monday afternoon: He fired someone again! Attorney General William Barr will step down before Christmas.
William Barr, an establishment Republican, served as attorney general to presidents George H.W. Bush and Donald J. Trump. But as the man who led the Justice Department and earned a lifetime of modest salaries, he made a fortune out of the office, earning more than $50 million as an executive director of some of the nation’s largest companies.
Barr, who declined to comment on the story, was listed by Forbes as having a net worth of $40 million after a series of official setbacks. That is, his income after taxes, personal expenses and modest investment returns.
Forbes found this figure to be more accurate than Barr’s Public Financial Disclosure Report, which only covers what he claimed, but which still shows assets worth between $24 million and $74 million.
Barr started saving money around 1993, when Bush senior left the White House and secretary Barr went into the pot. In his second year with the big business, Barr became general counsel of telephone giant GTE. When GTE merged with Bell Atlantic to form Verizon in 2000, Barr remained with the company as executive vice president and general counsel. From 2001 to 2007, he received an average annual salary and bonus of $1.7 million, according to his filings with the Securities and Exchange Commission. Mr. Barr also received valuable stock options, some of which he traded while at the company, and made about $3 million in after-tax gains from 2003 to 2007.
This is Secretary Barr’s net worth distribution of $40 million
Cash and investments make up the bulk
Mr Barr, who is well-connected in government and a boss at private Verizon, has clearly enjoyed other benefits that the average American cannot. Starting in the second month, Mr. Barr received a $31,000 flexible spending allowance, about $10,000 for financial planning, and an additional $10,000 for personal use of the large company’s aircraft.
The biggest benefit, however, turns out to be retirement. According to a securities and Exchange Commission filing, Barr received a whopping $17.1m from Verizon’s revenue deferral programme at the end of 2008. On top of that, company filings detail barr’s additional $10.4 million severance package…
The global economy was in a tailspin. The world, especially the United States, is going through an economic crisis and workers are losing their jobs… Barr’s exit plan has become the target of intense scrutiny over the bizarre pay packages of corporate bosses. An independent research firm called Corporate Library rates Verizon a “D,” citing “high governance risks” and “great concerns” and “very questionable” executive pay. In a judicial inquiry document, Verizon was singled out for Barr’s murky compensation scheme in connection with the review.
Ironically, retirement doesn’t mean Barr is done working. A year after leaving Verizon, he immediately joined the boards of Dominion Resources and Time Warner, two public companies. From 2009 to 2018, Mr Dominine paid Mr Barr $1.2m in cash and later awarded him another $1.1m reward, according to securities and Exchange Commission filings. Note that by this time Mr. Barr is already the Attorney general of the Trump administration!
This Dominican Republic is exactly the company behind the automatic voting machine system for the 2020 US presidential election… This? We don’t even dare to taste!
Forbes reported how much Money Dominine gave Barr
Can you imagine which side Barr is on
It is also a microcosm of America’s corrupt bureaucracy
So in 2016 and earlier, Trump became president by criticizing the “swamp of corruption in Washington,” and Time Warner, Trump’s enemy, then merged with AT&T to pay Secretary Barr
$970,000 in cash
and
A $1 million equity award
. Must be thumb up 666…
The deal was clearly lucrative for Barr, who reported a $1.7 million gain in financial statements. (Yes, American politicians do disclose their wealth, but… That doesn’t stop them from continuing to profit from contacts and positions). But the mega-merger with Time Warner upset Trump, who told the Justice Department to block the merger as much as possible. At a judicial hearing confirmed by the president, Barr promised to step down as attorney general.
In addition, Mr Barr served on the board of Och Ziff Capital Management, whose subsidiary pleaded guilty in the same year to conspiracy to violate the Foreign Corrupt Practices Act. Ochziv agreed to pay a $412 million fine. The company also paid Barr $190,000 in cash and $530,000 in stock awards between 2016 and 2018.
Although no longer on the boards of Och-Ziff, Dominion Resources or Time Warner, The attorney general has reaping the rewards of the process.
Trump has fired a succession of attorneys general and wants them to help him “fight evil and get to the bottom of corruption”… But where did it end up? Melons all over the world saw it!
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