Where the wealthy ride out the storm.

September 24, 2008 1:16 AM

Where does Dick Cheney have his money now? I remember a couple years ago reading about how Cheney was 'shorting' the dollar (betting against it's continued good health). It struck me at the time as cynical, sure, but also indicative of better financial advice than I get. So, where's he squirelling away his money now? How to find out?
posted by From Bklyn to Work & Money (5 answers total)

I'd be somewhat surprised if a VP or President had his money in anything other than a blind trust. If that's the case, Cheney isn't making any investment calls.
posted by zippy at 2:18 AM on September 24, 2008

Lucy Komisar has the scoop
posted by hortense at 2:46 AM on September 24, 2008 [1 favorite]

Response by poster: Sorry, I looked through the Lucy Komisar site and saw little to nothing about Cheney.

Here's, well, not the original place I read the claim, but what I could find via Google - "Cheney betting against the dollar?"

And really, what I'm looking for is an update on that. Thanks.
posted by From Bklyn at 6:45 AM on September 24, 2008

Here's the actual article on Cheney from Kipplingers.
posted by jdfan at 8:44 AM on September 24, 2008

Try looking at Halliburton:"Of course, perhaps the most common use of offshore subsidiaries is to launder profits, conceal activity, and avoid taxes. After Halliburton set up its offshore system under Cheney, Halliburton went from paying $302 million in company taxes in 1998 to receiving an $85 million dollar tax refund in 1999. This was before it took a massive charge against profits for expected liability related to the legal claims by victims of asbestos manufactured by Dresser Industries, which it bought in 1998. It booked its more than $4.0 billion U. S. in losses from 2002 through 2004."
btw Dresser Industries started with GHB and one of his pals from college, it was absorbed by Halliburton in 98 profit laundry!
posted by hortense at 11:38 PM on September 24, 2008