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Cornyn Took Caribbean Junket On Stanford's Dime
So we already knew that Allen Stanford -- the Texas banker charged by the SEC today with running an $8 billion "fraud of shocking magnitude" -- had some pretty impressive political contacts with both parties.
But it looks like his relationship with one of his home-state senators, Republican John Cornyn, may have been especially cozy.
According to Cornyn's Senate disclosure reports -- posted on the site Legistorm.com, which tracks privately financed trips by members of Congress -- the Stanford Financial Group paid for the Texas senator and an unnamed companion to take a November 2004 trip down to Antigua and Barbuda, the tiny Carribean nation where the company has its headquarters.
The three day trip is described by Legistorm as a "financial services industry fact-finding mission hosted by constituent company with substantial operations on site."
The site adds:
Sen. Cornyn discloses expenses for himself and a companion, but does not disclose the identity of the companion.
The total cost of the trip: $7,441.00
It would be hard to blame Cornyn if financial regulation wasn't the only thing on his mind while he was in Antigua. The trip occurred right after the November 2004 election, during which Cornyn was working hard for George W. Bush. And just last Sunday, the New York Times travel section described Antigua as a group of "famously paradisiacal islands that actually lives up to the hype."
The paper continued:
An array of über-luxurious resorts have cashed in on the lush surroundings, and provide their well-heeled guests with so many hedonistic diversions that many never emerge to see what lies beyond the resort gates.
Sounds like just the spot for some fact-finding!
We've told you all about Stanford's generous record of contributions to lawmakers from both sides of the aisle -- and especially to those with authority over the banking sector. The New York Times has gone further, reporting that Stanford's contributions appear to focus "particularly on legislators considering bills that would change offshore banking rules."
Cornyn this year became a member of the Senate Finance committee, though in 2004 he was not a member.
We've put in a call to Cornyn's office to ask what he learned on the "fact-finding mission" Stanford paid for -- and who his mystery companion was -- and will update with anything we learn.
Thanks to reader B.K. for the tip.
Late Update: It looks like Cornyn's spokesman was asked by the Center for Public Integrity back in 2006 about the identity of Cornyn's companion, and responded that it was Cornyn's wife.
Interestingly, CPI said the trip was "to tour the offices of trip sponsor Stanford Financial Group."
Thanks to commenter Snig for pointing that out.
Josh
Zachary
Sounds dodgy to me.
Looks like Cornyn likes to pal around with corrupted bankers.
February 17, 2009 2:41 PM | Reply | Permalink
Why is it that occasionally someone gets indited for offering a congressperson a bribe, but the congressperson is never indited for accepting that same bribe?
February 17, 2009 2:53 PM | Reply | Permalink
Never? Uh, Ted Stevens?
February 17, 2009 4:36 PM | Reply | Permalink
Looking forward to THAT response! (crickets?)
This one looks like a pretty interesting one Zach. What kind of 'facts' was he hoping to find and to what end? How did the results of his 'fact-finding' serve his constituents or the country, or aid in the crafting of legislation? With whom did he share the results of his 'findings'? Could these 'facts' have been 'found' by making phone calls or sending e-mails? Where exactly did he stay... a hotel, resort, a friend's house??? Did he pack snorkle gear? (Maybe the facts were hidden in the reef - you never know!)
February 17, 2009 2:45 PM | Reply | Permalink
Oh, and be sure to ask Cornyn if he recalls seeing $8bil lying around anywhere.
February 17, 2009 2:47 PM | Reply | Permalink
"The three day trip is described by Legistorm as a "financial services industry fact-finding mission hosted by constituent company with substantial operations on site.'"
Translation: the booze was top-notch and the hookers were plentiful.
February 17, 2009 2:48 PM | Reply | Permalink
Heh.
The real scandal is the operation itself - it's more substantial than many other US corporate presences, yet still manages to consist solely of a PO box and a voicemail account(no actual phone or machine).
February 17, 2009 5:01 PM | Reply | Permalink
The sex angle, if there is one, is the only thing the MSM would focus on if this amounts to anything. There have to be pictures somewhere.
February 17, 2009 2:53 PM | Reply | Permalink
Isn't that the ugly truth .... if it's just about bribes adnd "pay to play" it is not news worthy!
Judging from the times I have heard Cornyn speak in the senate ... my opinion of him is that he is a brainless follower doing what he is told. He has no respect for the constituents that put him in office and is in it for the $$$$$$$$!
February 18, 2009 11:13 AM | Reply | Permalink
Meanwhile back at the ranch...Cornyn is kicking the "Indian" taxpayers in the nuts by fighting any kind of "stimulus" (and "busting" Union jobss with wild abandon) for the middle class and the poor...remember Newt Cingrich outraged cry against the "Welfare Queens".. What do you call those thieves on Wall Street, (and crooked people like you and Cornyn..etc,) now recieving "bail-out welfare"...? Campaign donors...? Your "base", maybe...?
February 17, 2009 3:07 PM | Reply | Permalink
Financial services industry fact-finding mission? I imagine that means they were down there checking out the status of their offshore accounts!
February 17, 2009 3:13 PM | Reply | Permalink
I'm so glad Cornyn's my senator. Arggh!! Why can't Texas catch a break?
February 17, 2009 3:17 PM | Reply | Permalink
Good heavens. John Connally, both Bushes, John Tower, Phill Gramm, Kay Bailey Hutchinson and Rick Perry. Looks like Texas has been making its own bad breaks.
February 17, 2009 3:23 PM | Reply | Permalink
"Big John..."
February 17, 2009 4:07 PM | Reply | Permalink
... Big BAD John....
February 17, 2009 4:28 PM | Reply | Permalink
I know John Cornyn is no Dennis Kucinich, but I wonder if Mr./Ms. Unidentified Companion will draw anywhere near as much attention as the Unidentified Flying Object.
February 17, 2009 3:25 PM | Reply | Permalink
As a Texan, I'm hoping that Cornyn is wrapped up tight in this scandal like a calf in a barb wire fence (as that good ole boy Cornyn would say). TPM keep digging!
February 17, 2009 3:31 PM | Reply | Permalink
"big, bad John...."
February 17, 2009 4:08 PM | Reply | Permalink
That was no companion, that was his wife.
His spokesman states this here:
http://projects.publicintegrity.org/powertrips/report.aspx?aid=472
I know, I'm as dissapointed as the rest of you.
February 17, 2009 3:41 PM | Reply | Permalink
You actually believe that it was his wife? really? you can't be that naive, can you?
February 18, 2009 12:53 PM | Reply | Permalink
Speaking of Sir Allen...isn't there a statute against knighthoods or titles of ennoblement for US citizens ?
But, did I read somewhere Stanford now holds Antiguan (in addition to US?) citizenship ?
February 17, 2009 3:44 PM | Reply | Permalink
Maybe it was, and maybe it wasn't. The Senator needs to come clean.
February 17, 2009 3:45 PM | Reply | Permalink
It would be interesting to see what documentation there was from this trip. Since this was an official trip ostensibly for the purpouse of fact finding, I would expect at least some semblance of a fact to be found.
February 17, 2009 3:50 PM | Reply | Permalink
I would expect my senator (oh, the shame) to produce paper work that shows where this GIFT is reported and he paid for his companion-wife's 3-day vacation. What facts was she a-finding?
Geez, based on that campaign video & his republican status, I thought he was gay!
(Not that there's anything wrong with that...)
February 17, 2009 4:13 PM | Reply | Permalink
Good heavens. John Connally, both Bushes, John Tower, Phill Gramm, Kay Bailey Hutchinson and Rick Perry. Looks like Texas has been making its own bad breaks.
What a bunch of empty heads we Texans have gotten, drawing from the Republican talent pool.
Will the tide turn, perhaps??
February 17, 2009 4:52 PM | Reply | Permalink
Snig says:
"That was no companion, that was his wife.
His spokesman states this here:
http://projects.publicintegrity.org/powertrips/report.aspx?aid=472 "
OH! The embarassment...a high flying, currupt polatitian actually having to marry his nookie!
Might as well take up accounting, or become a engineer.
February 17, 2009 5:14 PM | Reply | Permalink
Senator Corn-in on a fact-finding mission? At Sir Allen's place on Antigua? There's some drollery for the ages.
February 17, 2009 5:25 PM | Reply | Permalink
Oh, please let us find something on this dushbag!
February 17, 2009 5:34 PM | Reply | Permalink
Cornyn took this junket in 2004, the Stanford scam has been going on for 10+ years. Right now the Texas AG--a GOP tool named Greg Abbott--is supposedly investigating. Who was the TX AG before Abbott? John Cornyn. Perhaps "Big John" Cornyn overlooked a few things for Mr. Stanford while he was AG...
Just a line of inquiry--I cannot stand Cornyn.
February 17, 2009 5:35 PM | Reply | Permalink
As usual when Republicans from Texas are involved, the scum usually runs deeper. On Nov. 6, 2001 the [107th] congress passed H.R.1408, the Financial Services Antifraud Network Act of 2001. The bill was presented twice to the Republican controled senate and sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where the bill died. The committee was chaired by none other than Republican Phil Gramm, from Texas.
*shakes head*
February 17, 2009 8:28 PM | Reply | Permalink
Cornyn is one of the most crooked of Bush cronies to come from Texas. Texas is a wreck after his, Phil Gramm's and Perry's governance. Hopefully, his karma catches up with him soon.
February 18, 2009 2:37 AM | Reply | Permalink
Completely agree with those who would like to see Cornyn's Karma instantly implemented.
Not since "Hot Tub" Tom Delay has there been a Texan more deserving of the wages his sins might pay.
Cornyn is the quintessential corporate pawn. If his network of good-old-boy beneficiaries and backroom bubbas was ever published on one list, it would be a veritable who's who of billionaire robber barons who have dragged our nation and the world to the brink of a financial ice-age.
As the globe warms, the economy cools, and those Bush era Texans on Cornyn's list are top targets for all the finger-pointing the future will pose. When history classes of coming generations look back and try to understand the reasons we suffered this class-warfare debacle, in a supposedly equitable democracy, all eyes will be on Texas and the Cornyn's it produced.
February 18, 2009 10:27 AM | Reply | Permalink
Tom DeLay was protecting Sir Stafford before Cornyn.
What does that say?
Why is DeLay still walking around. When is his trial?
February 18, 2009 12:08 PM | Reply | Permalink
Texas gives us these bigger than life assholes because the average Texan worships the bullshit these guys shovel. Big hats big balls and teeny tiny brains is what they love in Texas..... oh I forgot JEZUZ! They LOVE JEZUZ in Texas! Not the 2000 year old dead Jew but the idea that you can rob, steal, lie, cheat, swindle, shit, and piss your way to the top. Then if any of it catches up with you, you just say the magic word JEZUZ and all is forgiven because we are all sinners and blah blah blah ....
I honestly wish we had LOST the Civil War and the whole culture of the south was not part of America. They would probably still have their slaves and be arguing with New York and California that we just didn't understand simple economics.
February 18, 2009 2:19 PM | Reply | Permalink