Final Word from Wednesday, July 24, 2002
U.S. Ambassador to Prague Craig Stapleton was one of George W. Bush's 38 partners in the 1989 buyout of the Texas Rangers baseball club. Bush is coming under attack in the U.S. for the profit he made on the 1998 sale of the team. He paid $606,000 for a 1.8% stake, but he earned $14.9m from the sale. Bush got an extra 10% from his partners for putting the deal together and co-managing the club. Critics see this as an example of crony capitalism and claim that Bush got the extra stake in return for future political favors. Bush's defenders say the 10% was agreed in advance and was contingent on success. The sale was very successful. In the CR, Stapleton and other representatives of U.S. interests have encouraged the country to realize its full potential as a free-market democracy. Financial scandals at home make their job abroad all that more difficult.