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President's uncle cashes in on Iraq war

03/10/05 | by [mail] | Categories: culture/news

William HT BushWilliam H.T. "Bucky" Bush, uncle of the president and youngest brother of former President George H.W. Bush, cashed in ESSI stock options last month with a net value of nearly half a million dollars.

"Uncle Bucky," as he is known to the president, is on the board of the company, which supplies armor and other materials to U.S. troops. The company's stock prices have soared to record heights since before the invasion, benefiting in part from contracts to rapidly refit fleets of military vehicles with extra armor.
(Read the whole story - LA Times)

William Bush still owns over two million dollars worth of stock in Engineered Support Systems Inc. The company claims that having Bush on the board hasn't helped them get any of its lucrative no-bid contracts. Even if that's true, it's worth noting that that a close relative of the president is making a huge profit off of the war that Bush conducted.

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