Final Word from Monday, February 2, 2009
Barack Obama has had a bit of trouble getting some of his nominees for cabinet posts confirmed, due to tax and other ethics issues. One appointee who sailed through is George Mitchell, Obama's special envoy for Arab-Israeli affairs. This emissary post didn't require Senate confirmation. If it had, Mitchell might have needed to answer questions about his oil investment in Azerbaijan with Viktor Kožený. The "Pirate of Prague" has been charged with larceny and with violating the Foreign Corrupt Practices Act but claims his investors knew that bribes were part of the deal. Omega Advisors, with whom Mitchell was associated, agreed to settle with Kožený two weeks ago, apparently so its CEO wouldn't have to field awkward questions in court. Kožený is scheduled to face charges in New York in June. If the trial goes forward, big-mouthed Kožený could cause both Mitchell and Obama a bit of trouble.[Czech Republic United States of America Middle East Advisers Oily Rock Group Ltd.]
Glossary of difficult words
to sail through - to succeed easily at something, such as an examination;
George Mitchell - former Senator who was vice chairman of Kožený's investment vehicle, Oily Rock Group Ltd. (Kožený was chairman);
envoy/emissary - a person sent on a special mission, usually as a diplomatic representative;
larceny - theft of personal property;
Foreign Corrupt Practices Act - law that bans bribes by U.S. citizens or residents;
CEO - chief executive officer;
Omega Advisors - a money manager headed by Leon Cooperman;
to field - to deal with (a difficult issue).