A Matter of Character: on Corporations


Dick Cheney: Donates $100,000s from Halliburton, so not compensation

When Cheney said in September 2003 that he had no interest in Halliburton, Senator Tom Daschle asserted Cheney needed to reconcile his statement with the fact that he continued to receive hundreds of thousands of dollars in deferred compensation from his former employer. In response, Cheney’s office said the vice president had taken out a $15,000 insurance policy that would guarantee the deferred payments even if Halliburton went under. Cheney was donating the deferred compensation, after taxes, to charity. Cheney also legally deferred his Halliburton stock options to a charity. Thus, he had no financial interest in Halliburton’s fortunes.

The news was that Cheney had taken out the insurance policy. Instead, nourishing the conspiracy theories about Cheney and Halliburton fostered by the Democrats, newspapers said Cheney “defended” his assertion that he had no financial ties to Halliburton “even though he still receives deferred compensation from the Houston-based energy conglomerate.”

Source: A Matter of Character, by Ronald Kessler, p.230 Aug 5, 2004

  • The above quotations are from A Matter of Character: Inside the White House of George W. Bush, by Ronald Kessler.
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