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October 03, 2011

Noted Liberal Rag Bloomberg Levels Serious Charges at Koch Industries

Posted in: Uncategorized

Bloomberg, the news organization for patchouli-burning, Birkenstock-wearing hippies everywhere, has a long story alleging that Koch Industries traded with Iran, paid bribes to win contracts, stole oil, and engaged in “violations of criminal law,” according to the company’s own internal documents.

“Those activities constitute violations of criminal law,” Koch Industries wrote in a Dec. 8, 2008, letter giving details of its findings. The letter was made public in a civil court ruling in France in September 2010; the document has never before been reported by the media [...]

A Bloomberg Markets investigation has found that Koch Industries — in addition to being involved in improper payments to win business in Africa, India and the Middle East — has sold millions of dollars of petrochemical equipment to Iran, a country the U.S. identifies as a sponsor of global terrorism [...]

From 1999 through 2003, Koch Industries was assessed more than $400 million in fines, penalties and judgments. In December 1999, a civil jury found that Koch Industries had taken oil it didn’t pay for from federal land by mismeasuring the amount of crude it was extracting. Koch paid a $25 million settlement to the U.S.

Phil Dubose, a Koch employee who testified against the company said he and his colleagues were shown by their managers how to steal and cheat — using techniques they called the Koch Method.

You’d need only add some story about Charles or David Koch personally tying down a damsel in distress to train tracks to come up with a more damning portrait of what amounts to a super-villain.

Because this story appears in such a commie broadsheet like Bloomberg, it will surely be dismissed. OK, tongue out of cheek. This is an extremely serious piece of journalism, detailing numerous crimes from a corporate actor that has gotten wildly rich in spite of – because of – the crimes. There are details in here of Koch Industries negligence in a pipeline gas explosion that killed two teenagers. There are details of Koch employees told by superiors to falsify data on cancer-causing benzene. There are details of trading with Iran and illicit payments to get contracts and all sorts of violations of the Foreign Corrupt Practices Act. There are details of a number of different indictments and settlements and court orders and plea agreements. The portrait painted is frankly of a criminal enterprise.

The time frame for the article is mostly but not at all limited to the 1996-2003 period. But despite a spokesbot’s claims that the company has reformed its ways, it strains credulity to believe that Koch Industries now complies with all relevant regulatory laws.

The article is hard to summarize because there are so many charges; so just go read it. If you want to know why we’re seeing a wave of protests against corporatism in this country, I would offer this article as Exhibit A.


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