Tuesday, March 11, 2008

When Former Attorney Generals Soar

$52 Million-Plus Payday for Christie's Old Boss

"Former U.S. Attorney General John Ashcroft was one of five private attorneys whom Christie hand-picked to monitor the implant makers. Now Ashcroft's D.C.-based firm is poised to collect more than $52 million in 18 months, among the biggest payouts reported for a federal monitor.

Disclosed in SEC filings, the arrangement calls for Zimmer Holdings of Indiana to pay Ashcroft Group Consulting Services an average monthly fee between $1.5 million and $2.9 million. The figure includes a flat payment of $750,000 to the firm's "senior leadership group," individual legal and consulting services billed at up to $895 an hour, and as much as $250,000 a month for expenses including private airfare, lodging and meals."

Today: Ashcroft Claims 'No Conflict' in $50M No-Bid Contract
"There is not a conflict," Ashcroft said. "There is not an appearance of conflict."

And, he did it, we assume, with a straight face.
"Ashcroft said that outside monitors, which have been used increasingly in corporate fraud cases in recent years, save taxpayers money by avoiding costly prosecutions and forcing companies to follow the law.

"This hearing cost far more in tax dollars than my monitorship will cost, because it did not cost taxpayers one thin dime," Ashcroft testified. Under the arrangements, the cost of the monitoring is borne by the company, which agrees to pay to avoid criminal prosecution."

Boy, how does someone, not in the Bush Grindhouse, get a gig like this?

Bonus Ashcroft

BBC: Ashcroft rallies troops with song

YouTube - Let the Eagle Soar - Music and Lyrics by John Ashcroft

(And wait until you get to the refrain!)

Before the drapes ... And the wink-and-nod payout

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