The headline you read above is an actual headline from a news story from January 5, 2005.
You may dimly remember when this story came out, but if you're like most of us you do not. The United States media probably never reported on it.
But yes, in case you're wondering why, after all this time, a 6-foot 7-inch Saudi arab on the run in Pakistan, in constant need of a dialysis machine, has never been apprehended by, well, anyone, perhaps you need to look no farther than this.
Because the third in command of the CIA said: "You can make the argument that we’re better off with him (at large),"
Do you feel better off with Osama Bin Laden at large?
One of the Big News Stories of today is that Osama is about to release another videotape -- and he may release it on September 11, the day that transformed the George W. Bush administration from a joke that nobody took seriously into the "savior of the free world". The day when George Bush and Dick Cheney suddenly found themselves with more power than any leader has arguably ever had. What a glorious day it was for them! Bush admitted that 9/11 was part of "hitting the trifecta".
As I started looking back into the reasons why Osama bin Laden has never been captured, I stumbled across the story of A.B. "Buzzy" Krongard, one of the most influential and connected investment bankers in the world before George Tenet tapped him to be third in command at the C.I.A., in a specially position created just for him.
Former Marine A.B. "Buzzy" Krongard was an investment banker -- albeit the kind of banker who punched a great white shark, trained occasionally with a police SWAT team and practiced martial arts -- until 1998, when his friend, then director of Central Intelligence George Tenet, brought him into the CIA to fill a specially created position, counsel to the director. In 2001, Krongard was made executive director of the CIA, becoming the third-highest-ranking official in the agency.
What qualifications does an investment banker have for being a powerful mucky-muck in the C.I.A. you might ask? Well ... the CIA has a long history of collaboration and cross-pollination between itself and Wall Street. Here are just a few examples:
Clark Clifford - The National Security Act of 1947 was written by Clark Clifford, a Democratic Party powerhouse, former Secretary of Defense, and one-time advisor to President Harry Truman. In the 1980s, as Chairman of First American Bancshares, Clifford was instrumental in getting the corrupt CIA drug bank BCCI a license to operate on American shores. His profession: Wall Street lawyer and banker. John Foster and Allen Dulles - These two brothers "designed" the CIA for Clifford. Both were active in intelligence operations during WW II. Allen Dulles was OSS station chief in Berne, Switzerland, where he met frequently with Nazi leaders and looked after U.S. investments in Germany. John Foster went on to become Secretary of State under Dwight Eisenhower and Allen went on to serve as CIA Director under Eisenhower and was later fired by JFK. Their professions: partners in the most powerful - to this day - Wall Street law firm of Sullivan, Cromwell. Bill Casey - Ronald Reagan's CIA Director and OSS veteran who served as chief wrangler during the Iran-Contra years was, under President Richard Nixon, Chairman of the Securities and Exchange Commission. His profession: Wall Street lawyer and stockbroker. David Doherty - The current Vice President of the New York Stock Exchange for enforcement is the retired General Counsel of the Central Intelligence Agency. George Herbert Walker Bush - President from 1989 to January 1993, also served as CIA Director for 13 months from 1976-7. He is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, which also shares joint investments with the bin Laden family.
Clark Clifford - The National Security Act of 1947 was written by Clark Clifford, a Democratic Party powerhouse, former Secretary of Defense, and one-time advisor to President Harry Truman. In the 1980s, as Chairman of First American Bancshares, Clifford was instrumental in getting the corrupt CIA drug bank BCCI a license to operate on American shores. His profession: Wall Street lawyer and banker.
John Foster and Allen Dulles - These two brothers "designed" the CIA for Clifford. Both were active in intelligence operations during WW II. Allen Dulles was OSS station chief in Berne, Switzerland, where he met frequently with Nazi leaders and looked after U.S. investments in Germany. John Foster went on to become Secretary of State under Dwight Eisenhower and Allen went on to serve as CIA Director under Eisenhower and was later fired by JFK. Their professions: partners in the most powerful - to this day - Wall Street law firm of Sullivan, Cromwell.
Bill Casey - Ronald Reagan's CIA Director and OSS veteran who served as chief wrangler during the Iran-Contra years was, under President Richard Nixon, Chairman of the Securities and Exchange Commission. His profession: Wall Street lawyer and stockbroker.
David Doherty - The current Vice President of the New York Stock Exchange for enforcement is the retired General Counsel of the Central Intelligence Agency.
George Herbert Walker Bush - President from 1989 to January 1993, also served as CIA Director for 13 months from 1976-7. He is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, which also shares joint investments with the bin Laden family.
You get the idea. So the special friend and counsel to the head of the CIA came right out and told us that it was basically a bad idea to capture Bin Laden:
If the world’s most wanted terrorist is captured or killed, a power struggle among his Al-Qaeda subordinates may trigger a wave of terror attacks, said AB "Buzzy" Krongard, who stepped down six weeks ago as the CIA’s third most senior executive. "You can make the argument that we’re better off with him (at large)," Krongard said. "Because if something happens to Bin Laden, you might find a lot of people vying for his position and demonstrating how macho they are by unleashing a stream of terror." Krongard, a former investment banker who joined the CIA in 1998, said Bin Laden’s role among Islamic militants was changing. "He’s turning into more of a charismatic leader than a terrorist mastermind," he said. "Some of his lieutenants are the ones to worry about."
If the world’s most wanted terrorist is captured or killed, a power struggle among his Al-Qaeda subordinates may trigger a wave of terror attacks, said AB "Buzzy" Krongard, who stepped down six weeks ago as the CIA’s third most senior executive.
"You can make the argument that we’re better off with him (at large)," Krongard said. "Because if something happens to Bin Laden, you might find a lot of people vying for his position and demonstrating how macho they are by unleashing a stream of terror."
Krongard, a former investment banker who joined the CIA in 1998, said Bin Laden’s role among Islamic militants was changing.
"He’s turning into more of a charismatic leader than a terrorist mastermind," he said. "Some of his lieutenants are the ones to worry about."
So when you see this "new" videotape of Bin Laden this September 11, you'll know why he's still out there making tapes.
And Krongard? What's he up to now? Well you might say he's landed on his feet since leaving with Tenet:
DLA Piper Rudnick Gray Cary US LLP has named A.B. "Buzzy" Krongard to its global board of directors. The law firm -- the world's third-largest in number of lawyers -- was formed by two mergers. Piper Rudnick, based in Baltimore and Chicago, merged late last year with California's Gray Cary Ware & Freidenrich. The merged firm then joined with London-based powerhouse DLA effective Jan. 1. DLA Piper's board of directors includes chairman and former United States Senator George J. Mitchell, a partner in the firm; DLA Piper's three co-CEOs; an executive director; and four partners each from the former DLA and the former Piper Rudnick. Krongard will be the board's outside director from the United States, while an outside director from the United Kingdom will be named later.
DLA Piper Rudnick Gray Cary US LLP has named A.B. "Buzzy" Krongard to its global board of directors.
The law firm -- the world's third-largest in number of lawyers -- was formed by two mergers. Piper Rudnick, based in Baltimore and Chicago, merged late last year with California's Gray Cary Ware & Freidenrich. The merged firm then joined with London-based powerhouse DLA effective Jan. 1.
DLA Piper's board of directors includes chairman and former United States Senator George J. Mitchell, a partner in the firm; DLA Piper's three co-CEOs; an executive director; and four partners each from the former DLA and the former Piper Rudnick. Krongard will be the board's outside director from the United States, while an outside director from the United Kingdom will be named later.
Oh, one other thing about Krongard. Remember those put options on American and United Airlines just before 9/11? The ones that made it look like somebody had foreknowledge of the attacks and planned to actually cash in on the drop in the stock price? Well, turns out one of the firms used to buy these put options was Krongard's old company:
Further details of the futures trades that netted such huge gains in the wake of the hijackings have been disclosed. To the embarrassment of investigators, it has also emerged that the firm used to buy many of the "put" options – where a trader, in effect, bets on a share price fall – on United Airlines stock was headed until 1998 by "Buzzy" Krongard, now executive director of the CIA.
But I'm sure that's just a coincidence.
And I'm sure it's just a coincidence that Three days after Bin Laden's new tape is scheduled to hit our media, on September 14, the Air Force will halt all flights of fighters and bombers in the United States to allow for a review of procedures.
Then there's Who Bets a Billion that the Market will Crash? diary from right here at Dailykos, and by golly people wonder why Ambien is such a big seller.
Sweet dreams.
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