LYCOS RETRIEVER 
Jackson Stephens: Harken Energy
built 630 days ago
How did Jackson Stephens react to all this activity in his back yard? Well, among other things, Stephens and his Worthen National Bank invested in Harken Energy, a Texas company in which George Bush, Jr., was a board member. "The money Stephens invested came through the Swiss BCCI subsidiary" (Rachel Ehrenfeld).
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As described above, Jackson Stephens was close to Jimmy Carter and several people in his cabinet and coterie of political cronies. But Jack Stephens is ... well known for playing both sides of the fence. In 1991, Jackson Stephens contributed $100,000 to the Republican Party for Bush's presidential campaign, and Stephens Inc. "kicked in another $100,000." Stephens wife was the Arkansas co-chairman of the Bush for President campaign. (Wall Street Journal, December 6, 1991.) He and his wife were hosts to the Inaugural party for President Bush in 1989. (New York Times, Ma, 8, 1992.) In addition, Stephens brokered the deal that allowed the Union Bank of Switzerland (as mentioned above, a BCCI-connected bank, that also financed and ultimately owns the WTI incinerator project) to rescue a Harken Energy project that George Bush Jr. (son of President Bush) was involved with in 1987.
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In 1987, Stephens arranged the bail-out of a small Texas oil company, Harken Energy, from near bankruptcy. The bailout created a scandal for the Bush administration when uncovered by the Wall Street Journal in 1991. It seems Bush's eldest son, George W. Bush was a director and stockholder of Harken. During Bush's presidency, Harken won the rights to a potentially lucrative contract to drill offshore wells for the government of Bahrain, though Harken had never drilled either offshore or overseas. When Iraq invaded Kuwait, just before Harken's stock dropped drastically, George W. sold two-thirds of his stock for a significant profit. The Wall Street Journal speculated that the investors made the deal to cosy up to the President through his son.
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...An American banker named Jackson Stephens who was to ... be deeply involved in the BCCI affair moved in 1987 to invest $25 million in Harken. The transaction took place in Geneva with the money was paid through a joint venture set up between the Union des Banques Suisses and the Geneva branch of the BCCI; the financial accord was signed by both Stephens and Bakksh. Other links between Bush and Mahfouz can be found through investments in the Carlyle Group, an American investment firm managed by a board on which former president George Bush himself sat. The younger Bush personally held shares in one of the components of the Carlyle group, the Caterair company, between 1990-94. And Carlyle today ranks as a leading contributor to Bush's electoral campaign. On Carlyle's advisory board figures the name of Sami Baarma, director of the Pakistani financial establishment Prime Commercial Bank that is based in Lahore and owned by Mafouz."
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Stephens is known to play both sides of the political fence. “In 1991, Jackson Stephens contributed $100,000 to the Republican Party for Bush’s presidential campaign, and Stephens Inc. “kicked in another $100,000.” Stephens wife was the Arkansas co-chairman of the Bush for President campaign. He and his wife were hosts to the Inaugural party for President Bush in 1989. In addition, Stephens brokered the deal that allowed the Union Bank of Switzerland (a BCCI-connected bank, that ... financed and ultimately owns the WTI incinerator project) to rescue a Harken Energy project that George W. Bush was involved with in 1987. When Harken needed help, Stephens was there. A meeting in Little Rock was set up “between Harken officials and Jackson Stephens that produced an unusual rescue plan.
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