George H. W. BushGeorge Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States (1989–1993). Previously, he had served as U.S. congressman from Texas (1967–1971), ambassador to the United Nations (1971–1973), Republican National Committee chairman (1973–1974), director of the CIA (1976–1977), and the 43rd Vice President of the United States under President Ronald Reagan (1981–1989). He is the father of the current president George W. Bush. Youth, educationGeorge Herbert Walker Bush was born to Prescott Bush and Dorothy Walker. His father served as a U.S. Senator from Connecticut and was a partner in the prominent investment banking firm Brown Brothers Harriman. George Bush began his formal education at the Greenwich Country Day School in Greenwich, Connecticut. Bush attended Phillips Academy in Andover, Massachusetts from 1936 to 1942, where he demonstrated early leadership, captaining the baseball team, and was a member of an exclusive fraternity called the A.U.V, or "Auctoritas, Unitas, Veritas" – Latin for "Authority, Unity, Truth". His roommate at the boarding school was a young man named Edward G. Hooker. It was at Phillips Academy that Bush learned of the surprise attack on Pearl Harbor on December 7, 1941. World War II: decorated naval aviatorGeorge H. W. Bush met Babe Ruth as a student at Yale.After graduating from Phillips Academy in June, 1942, he joined the U.S. Navy on his 18th birthday to become an aviator. After completing the 10-month course, he was commissioned as an ensign in the U.S. Naval Reserve on June 9, 1943, several days before his 19th birthday, which made him the youngest naval aviator to that date. After finishing flight training he was assigned to Torpedo Squadron (VT-51) as photographic officer in September 1943. As part of Air Group 51, his squadron was based on U.S.S. San Jacinto in the spring of 1944. San Jacinto was part of Task Force 58 that participated in operations against Marcus and Wake Islands in May, and then in the Marianas during June. On June 19 the task force triumphed in one of the largest air battles of the war. On his return from the mission Bush's aircraft made a forced water landing. A submarine rescued the young pilot, although the plane was lost as well as the life of his navigator. On July 25 Bush and another pilot received credit for sinking a small cargo ship off Palau. After Bush's promotion to Lieutenant Junior Grade on August 1, San Jacinto commenced operations against the Japanese in the Bonin Islands. On September 2, 1944, Bush piloted one of four aircraft from VT-51 that attacked the Japanese installations on Chichi Jima. For this mission his crew included Radioman Second Class John Delaney and Lieutenant Junior Grade William White, who substituted for Bush's regular gunner. During their attack four TBM Avengers from VT-51 encountered intense antiaircraft fire. While starting the attack, Bush's aircraft was hit and his engine caught on fire. He completed his attack and released the bombs over his target, scoring several damaging hits. With his engine on fire, Bush flew several miles from the island, where he and one other crew member on the TBM Avenger bailed out of the aircraft. However, the other man's parachute did not open, and he fell to his death. It was never determined which man bailed out with Bush. Both Delaney and White were killed in action. While Bush anxiously waited four hours in his inflated raft, several fighters circled protectively overhead until he was rescued by the lifeguard submarine U.S.S. Finback. For this action Bush received the Distinguished Flying Cross. During the month he remained on Finback Bush participated in the rescue of other pilots. Bush subsequently returned to San Jacinto in November 1944 and participated in operations in the Philippines. When San Jacinto returned to Guam, the squadron, which had suffered 50 percent casualties of its pilots, was replaced and sent to the United States. Through 1944 he had flown 58 combat missions for which he received the Distinguished Flying Cross, three Air Medals, and the Presidential Unit Citation awarded aboard the San Jacinto. Because of his valuable combat experience, Bush was reassigned to Norfolk Navy Base and put in a training wing for new torpedo pilots. He was later assigned as a naval aviator in a new torpedo squadron, VT-153. With the surrender of Japan, he was honorably discharged in September 1945 and then entered Yale University. Post war: Yale, family, oil businessWhile at Yale, he joined the Delta Kappa Epsilon fraternity and was elected President. As a Senior he was, like his son George W. Bush (1968) and his father Prescott S. Bush (1917), inducted into the Skull and Bones secret society in 1948, helping him to build friendships and political support. Joining the Skull and Bones a year after him at Bush's request was William Sloane Coffin, a fellow classmate from the Phillips Academy. Throughout their lives, they remained friends despite political disagreement, as Coffin became a notable anti-war activist of the political left. He married Barbara Pierce on January 6, 1945. Their marriage produced six children: George W., Pauline Robinson ("Robin") (1949–1953, died of leukemia), John (Jeb), Neil, Marvin, and Dorothy Walker. The family has built on Bush's political successes, and those of his father Sen. Prescott Bush, with his son George W. Bush's Governorship of Texas and subsequent election as president, and his son Jeb Bush's election as Governor of Florida. The Bush political "dynasty" has been compared to that of John Adams and the Kennedy family. Bush's maternal grandfather was George Herbert Walker Sr., the founder of G.H. Walker & Co. Bush's uncle George Herbert Walker, Jr. is the current head of the company. Bush's first cousin George Herbert Walker III is the U.S. ambassador to Hungary. Bush ventured into the highly speculative Texas oil exploration business after World War II with considerable success. He secured a position with Dresser Industries. His son, Neil Mallon Bush, is named after his employer at Dresser, Neil Mallon, who became a close family friend. Dresser Industries, decades later, merged with Halliburton, whose former CEOs include Dick Cheney, George H. W. Bush's Secretary of Defense and, as of 2005, Vice President of the United States. Rise in politicsVice President Bush in a meeting with President Reagan in 1984.In 1964, Bush ventured into conventional politics by running against Texas' Democratic Senator Ralph Yarborough, making an issue of Yarborough's support of the Civil Rights Act of 1964. At the time many Southern politicians (including the Republican Sen. John Tower of Texas) opposed the legislation. Bush called Yarborough an "extremist" and a "left wing demagogue" while Yarborough said Bush was a "carpetbagger" trying to buy a Senate seat "just as they would buy a seat on the New York Stock Exchange". Bush lost in the 1964 Democratic landslide. He was later elected in 1966 and 1968 to the House of Representatives from the 7th District of Texas. He later lost his second attempt at a Senate seat in 1970 to Democrat Lloyd Bentsen who defeated the incumbent Yarborough in the Democratic primary. Bentsen proceeded to become the Democratic Party nominee for Vice President in the 1988 presidential election, and Secretary of the Treasury in the Clinton Administration. Throughout the 1970s, under Presidents Richard Nixon and Gerald Ford, Bush briefly served in a number of positions, including Chairman of the Republican National Committee, United States Ambassador to the United Nations (1971-1973), US Envoy to Communist China, Director of the Central Intelligence Agency and board member of the Committee on the Present Danger. Bush has since commented that he did not paticuarly enjoy this string of jobs, saying he never wanted to be a "career bureaucrat." However, had Bush not received the succession of appointments after his Senate defeat in 1970, it is unlikely he would have risen to a level of national prominence in politics. Vice PresidentIn 1980, Bush ran for President, losing the Republican Party nomination to Ronald Reagan, the former Governor of California. After nearly choosing former President Gerald Ford as his running mate, Reagan selected Bush as his Vice President, placing him on the winning Republican Presidential ticket of 1980. Bush had been many things Reagan had not been - a life-long Republican, and an internationalist with UN, CIA, and China experience. Bush was also more moderate in his economic positions and political philosophy than Reagan. In the nomination fight against Reagan, Bush referred to Reagan's supply side-influenced plans for massive tax cuts as "voodoo economics." The Reagan/Bush ticket won again in 1984, against the Democrats' Walter Mondale/Geraldine Ferraro ticket. During his second term as Vice President, Bush had the distinction of becoming the first Vice President to become Acting President when, on July 13, 1985, President Reagan underwent surgery to remove polyps from his colon. Bush served as Acting President for approximately eight hours, most of which he passed playing tennis. Chief Justice William Rehnquist administering the oath of office to President George H. W. Bush during Inaugural ceremonies at the United States Capitol. January 20, 1989.In 1988, after 8 years as Vice President, Bush ran for President. Though considered the early frontrunner for the nomination, Bush came in third in Iowa, beaten by winner U.S. Senator Bob Dole and runner-up televangelist Pat Robertson. However, Bush went on to win New Hampshire and the nomination. Leading up to the 1988 Republican National Convention, there was much speculation as to Bush's choice of running mate. In a move anticipated by few and later criticized by many, Bush chose little-known U.S. Senator Dan Quayle of Indiana. On the eve of the convention, Bush trailed Democratic nominee Michael Dukakis, then Massachusetts governor, by double digits in most polls. Bush, often criticized for his lack of eloquence compared to Reagan, surprised many by giving possibly the best speech of his public career, widely known as the "Thousand points of light" speech[1] for his use of that phrase to describe his vision of American community. Bush's acceptance speech and a generally well managed Convention catapulted him ahead of Dukakis in the polls, and he held the lead for the rest of the race. The campaign was noted as particularly bitter compared to previous ones and became famous for its highly negative advertisements. One advertisement run by the Bush campaign showed Dukakis awkwardly riding in a U.S. Army tank. Another, produced and placed by an independent group supporting Bush, referred to murderer Willie Horton who committed a rape and assault while on a furlough from a life sentence being served in Massachusetts. The Horton case, and Dukakis's unconditional opposition to the reinstatement of capital punishment in the United States, played a role in creating the impression that Dukakis was "soft on crime." These images helped enhance Bush's stature as a possible Commander-in-Chief compared to the Massachusetts governor. The Bush-Quayle ticket beat Michael Dukakis and Lloyd Bentsen soundly in the Electoral College, by 426 to 111 (Lloyd Bentsen received one vote). Although his victory was a landslide, Bush in 1988 was the last Republican to carry certain states, including Maryland, Illinois, Pennsylvania, and California, which have since gained the reputation as "blue states" that favor the Democratic Party in presidential elections. Presidential Campaign
In 1992, "Sources close to the former president [said] Karl Rove was fired from the ... campaign after he planted a negative story with columnist Robert Novak about dissatisfaction with campaign fundraising chief and Bush loyalist Robert Mosbacher, Jr. It was smoked out, and he was summarily ousted" (Esquire Magazine, January 2003). Novak provided some evidence of motive in his column describing the later firing of Mosbacher by former Senator Phil Gramm, "Also attending the session was political consultant Karl Rove, who had been shoved aside by Mosbacher". Novak and Rove deny that Rove was the leaker of the information to discredit Mosbacher, but Mosbacher maintains that "Rove is the only one with a motive to leak this." PresidencyForeign policy drove the Bush presidency from its first days. In his January 20, 1989 Inaugural Address upon taking the Presidency, Bush said:
As President, Bush is perhaps best known for leading the United Nations coalition in the 1990–1991 Gulf War. In 1990, led by Saddam Hussein, Iraq invaded its oil-rich neighbor to the south, Kuwait. The broad coalition sought to remove Iraqi forces from Kuwait and ensure that Iraq did not invade Saudi Arabia. Bush's position was summed up succinctly when he said, "This aggression will not stand," and "this is not a war for oil. This is war against aggression." In a foreign policy move that would later be questioned, President Bush achieved his stated objectives of liberating Kuwait and forcing Iraqi withdrawal, then ordered a cessation of combat operations —allowing Saddam Hussein to stay in power. His Secretary of Defense Dick Cheney noted that invading the country would get the United States "bogged down in the quagmire inside Iraq." [2] Bush later explained that he did not give the order to overthrow the Iraqi government because it would have "incurred incalculable human and political costs... We would have been forced to occupy Baghdad and, in effect, rule Iraq". [3][4] In explaining to Gulf War veterans why he chose not to pursue the war further, he said, "whose life would be on my hands as the commander-in-chief because I, unilaterally, went beyond the international law, went beyond the stated mission, and said we're going to show our macho? We're going into Baghdad. We're going to be an occupying power — America in an Arab land — with no allies at our side. It would have been disastrous." fas.org President Bush's popularity rating in America soared during and immediately after the apparent success of the military operations, but later fell due to an economic recession. President Bush posing with four previous Presidents during his termThe tail end of the late 1980s recession, that had dogged most of Bush's term in office, was a contributing factor to his defeat in the 1992 Presidential election. Several other factors were key in his defeat, including siding with Congressional Democrats in 1990 to raise taxes despite his famous "Read my lips: No new taxes" pledge not to institute any new taxes. In doing so, Bush alienated many members of his conservative base, losing their support for his re-election. Another major factor, which may have helped Bill Clinton defeat Bush in the 1992 election was the candidacy of Ross Perot. Perot won 19% of the popular vote, and Clinton, still a largely unknown quantity in American politics, won the election. The official White House portrait of President George H.W. BushBush's last controversial act in office was his pardon of six former government employees implicated in the Iran-Contra scandal on December 24, 1992, most prominently former Secretary of Defense Caspar Weinberger. Weinberger had been scheduled to stand trial on January 5, 1993 for lying to Congress regarding his knowledge of arms sales to Iran and concealing 1700 pages of his personal diary detailing discussions with other officials about the arms sales. As Weinberger's private notes contained references to Bush's endorsement of the secret shipments to Iran, some believe that Bush's pardon was an effort to prevent an order for Bush to appear before a grand jury or possibly to avoid an indictment. Weinberger's indictment stated that Weinberger's notes contradicted Bush's assertions that he had only peripheral knowledge of the arms for hostages deal. Lawrence Walsh, the Independent Counsel assigned to the case, charged that "the Iran-contra cover-up, which has continued for more than six years, has now been completed." Walsh likened the pardons to President Nixon's Saturday Night Massacre. Bush responded that the Walsh probe constituted an attempt to criminalize a policy dispute between the legislative and executive branches. In addition to Weinberger, Bush pardoned Duane R. Clarridge, Clair E. George, Robert C. McFarlane, Elliott Abrams, and Alan G. Fiers Jr., all of whom had been indicted and/or convicted of charges by the Independent Counsel. Despite his defeat, George H.W. Bush left office in 1993 with a 56 percent job approval rating. [5] CabinetSupreme Court appointmentsBush appointed the following Justices to the Supreme Court of the United States:
Post-presidencyFive presidents and first ladies attended the funeral of Richard Nixon on April 27, 1994, in Nixon's hometown of Yorba Linda, California. From left: Bill and Hillary Clinton, George H.W. and Barbara Bush, Ronald and Nancy Reagan, Jimmy and Rosalynn Carter, Gerald and Betty Ford. Former presidents Bush and Bill Clinton at Super Bowl XXXIX in 2005.Since his final election campaign, Bush has largely retired from public life and still hates broccoli, an old joke from his days in the Oval Office. The Bushes live in Houston, Texas and their summer home in Kennebunkport, Maine. He holds his own fishing tournament in Islamorada, an island in the Florida Keys. Bush has never written a memoir of his political life, and says he does not plan to. He has, however, published a book containing a series of collected letters (All The Best, George Bush, 1999), and co-authored a book on recent foreign policy issues with his former National Security Advisor, Brent Scowcroft (A World Transformed, 1998). He has given a number of paid speeches and participated in business ventures with the Carlyle Group. The George Bush Presidential Library and Museum is located on the Southwest corner of the campus of Texas A&M University in College Station, Texas. George Bush Intercontinental Airport in Houston, Texas was renamed after the former president in 1997. The tenth Nimitz-class aircraft carrier will be named USS George H. W. Bush when it is launched in 2009. In 2000, he became the first president since John Adams to be father of another president when George W. Bush, his son, then Texas governor, was elected president of the United States. During his term of office, George H. W. Bush was simply known as President George Bush, since his son had never held elective office and was not especially well-known to the public. He is now referred to by various nicknames and titles, including "Former President Bush," "Bush the Elder," "the first President Bush," "Bush 41," "Papa Bush," or simply "41" in order avoid confusion between his presidency and that of his son. Although the names of the two men are similar, they are not identical—George W. Bush lacks his father's middle name Herbert—so they are not known as "senior" and "junior." Bush, along with his son President George W. Bush, his daughter-in-law, Laura, and another former president, Bill Clinton, pay their respects to Pope John Paul II before the pope's funeral.
Humanitarian effortsOn January 3, 2005, President George W. Bush named him and Bill Clinton to lead a nationwide campaign to help the victims of Asian tsunamis. They both appeared on the Super Bowl XXXIX pregame show on Fox in support of their effort to raise money for relief of the 2004 tsunami in southeast Asia through the USA Freedom Corps, an action which Bush described as "transcending politics." Thirteen days later, they both traveled to the affected areas to see how the relief efforts were going. Despite their history as political opponents in the 1992 United States Presidential Election, the two former presidents have become friends. In June 2005 Bush had Clinton over as a guest, and the two even spent a weekend together in Maine boating. [6] In the wake of Hurricane Katrina and the devastation it wrought over the Gulf coast, Bush and Clinton have again teamed up to respond to this disaster. TriviaBush was nearly 6 feet, 3 inches tall in his prime, making him one of the tallest U.S. presidents to date. He was the first President to have two middle names, and the first President to be born in June. Further reading
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He was the first President to have two middle names, and the first President to be born in June. The Mercantile Bank was acquired in 1959 by HSBC. presidents to date. The Mercantile Bank of India, London and China was established in October 1853 in Bombay (now Mumbai). Bush was nearly 6 feet, 3 inches tall in his prime, making him one of the tallest U.S. Formerly the British Bank of the Middle East. In the wake of Hurricane Katrina and the devastation it wrought over the Gulf coast, Bush and Clinton have again teamed up to respond to this disaster. Demirbank TAS was acquired by HSBC in 2001 following a default of Demirbank. [6]. Crédit Commercial de France is a wholly owned subsidiary of HSBC, and HSBC is listed on the Paris Stock Exchange. In June 2005 Bush had Clinton over as a guest, and the two even spent a weekend together in Maine boating. was known to be involved in money laundring operations, and participated in the infamous Fobaproa, which rescued the banks in the 1994 crisis, at the cost of the Mexican's taxes. Despite their history as political opponents in the 1992 United States Presidential Election, the two former presidents have become friends. Though the purchase was legal, Banco Internacional, S.A. They both appeared on the Super Bowl XXXIX pregame show on Fox in support of their effort to raise money for relief of the 2004 tsunami in southeast Asia through the USA Freedom Corps, an action which Bush described as "transcending politics." Thirteen days later, they both traveled to the affected areas to see how the relief efforts were going. Banco Internacional, S.A., Mexico's fifth largest bank was acquired by HSBC by 2003, changing the company's name to HSBC México, S.A., with presence nationwide. Bush named him and Bill Clinton to lead a nationwide campaign to help the victims of Asian tsunamis. HSBC is expanding the Household International high-cost consumer financial model to Brazil, India and elsewhere, as reported-on in detail in this weekly HSBC Watch Report by the Fair Finance Watch organization. On January 3, 2005, President George W. Household International's CEO William Aldinger became the highest-paid director in the United Kingdom, before announcing his departure in February 2005. Bush lacks his father's middle name Herbert—so they are not known as "senior" and "junior.". states. Although the names of the two men are similar, they are not identical—George W. The acquisition was controversial: Household International had, in October 2002, settled for $486 million charges of predatory lending by attorneys general in 46 U.S. He is now referred to by various nicknames and titles, including "Former President Bush," "Bush the Elder," "the first President Bush," "Bush 41," "Papa Bush," or simply "41" in order avoid confusion between his presidency and that of his son. On March 28, 2003 Household International was acquired by HSBC. Bush was simply known as President George Bush, since his son had never held elective office and was not especially well-known to the public. Today, the venue is known as the HSBC Arena. W. Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. During his term of office, George H. The tallest building in Buffalo also carries the HSBC name, and is noted for its open entry level, under which the Buffalo Metro Rail passes. Bush, his son, then Texas governor, was elected president of the United States. Completed in 1967, this 52-story, 688 ft (209.7 m) highrise provides 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive "Noguchi's Cube" sculpture at its entrance. In 2000, he became the first president since John Adams to be father of another president when George W. Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. Bush when it is launched in 2009. There was a branch office on the ground floor of the World Trade Center in New York City. W. There are some 400 HSBC branches throughout New York State in addition to some 20 to 25 branches in other states, including Florida and California. The tenth Nimitz-class aircraft carrier will be named USS George H. After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from the HSBC Center in Buffalo to 452 Fifth Avenue, New York City — although the official headquarters are in Wilmington, Delaware. George Bush Intercontinental Airport in Houston, Texas was renamed after the former president in 1997. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA. The George Bush Presidential Library and Museum is located on the Southwest corner of the campus of Texas A&M University in College Station, Texas. HSBC acquired a 51% shareholding in Marine Midland banks of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. He has given a number of paid speeches and participated in business ventures with the Carlyle Group. HSBC Canada is the only Canadian bank with headquarters in British Columbia. He has, however, published a book containing a series of collected letters (All The Best, George Bush, 1999), and co-authored a book on recent foreign policy issues with his former National Security Advisor, Brent Scowcroft (A World Transformed, 1998). HSBC has a strong presence in overseas Chinese communities especially in Vancouver and Toronto in Canada. Bush has never written a memoir of his political life, and says he does not plan to. to purchase an 11% stake in Bank of Shanghai (HSBC paid USD 62.6 million for an 8% stake) and USD 733 million for a 10% stake in Ping An Insurance. He holds his own fishing tournament in Islamorada, an island in the Florida Keys. A year earlier, HSBC had joined with Hong Kong's Shanghai Commercial Bank, Ltd. The Bushes live in Houston, Texas and their summer home in Kennebunkport, Maine. Industry considered this move giving HSBC a lead in the race to grab pieces of mainland China's banking market. Since his final election campaign, Bush has largely retired from public life and still hates broccoli, an old joke from his days in the Oval Office. At the time of the announcement, Bank of Communications was China's fifth-largest bank and the investment by HSBC was eight times bigger than any previous foreign investment in a Chinese bank. Bush appointed the following Justices to the Supreme Court of the United States:. On 6 August 2004, HSBC announced to pay USD 1.75 billion for a 19.9% stake in Shanghai-based Bank of Communications. Bush left office in 1993 with a 56 percent job approval rating. Its activities were mainly in inward remittances and export bills until the economic reforms of the late 1970s. Despite his defeat, George H.W. In April 1955, HSBC handed over this office to the Communist government, and its activities were continued in rented premises. Fiers Jr., all of whom had been indicted and/or convicted of charges by the Independent Counsel. HSBC was historically housed in one of the largest and most impressive buildings on The Bund, Shanghai's boulevard formerly known as the Wall Street of the Orient. McFarlane, Elliott Abrams, and Alan G. Aside from the period 1941-1945, in which Japan forced HSBC and other foreign-invested banks to leave the local market, it has had a continuous presence in the city. George, Robert C. HSBC established its Shanghai branch office on 3 April 1865. Clarridge, Clair E. The Hang Seng Index for stock prices in Hong Kong is named after the Hang Seng Bank. In addition to Weinberger, Bush pardoned Duane R. HSBC acquired a controlling interest in the local Hang Seng Bank in 1965 during a crisis of the latter. Bush responded that the Walsh probe constituted an attempt to criminalize a policy dispute between the legislative and executive branches. HSBC is one of the three banks which issues banknotes for Hong Kong (the other two being the Bank of China (Hong Kong) and Standard Chartered Bank). Lawrence Walsh, the Independent Counsel assigned to the case, charged that "the Iran-contra cover-up, which has continued for more than six years, has now been completed." Walsh likened the pardons to President Nixon's Saturday Night Massacre. It was designed by British architect Norman Foster, and was the most expensive building in the world for the usable floor area when it was built. Weinberger's indictment stated that Weinberger's notes contradicted Bush's assertions that he had only peripheral knowledge of the arms for hostages deal. The Hong Kong headquarters of the HSBC are in Central, Hong Kong, in the HSBC Hong Kong headquarters building. As Weinberger's private notes contained references to Bush's endorsement of the secret shipments to Iran, some believe that Bush's pardon was an effort to prevent an order for Bush to appear before a grand jury or possibly to avoid an indictment. It once adopted a shorthand of "HongkongBank", which is still a widely used jargon in Hong Kong today. Weinberger had been scheduled to stand trial on January 5, 1993 for lying to Congress regarding his knowledge of arms sales to Iran and concealing 1700 pages of his personal diary detailing discussions with other officials about the arms sales. Prior to diversifying its business into a worldwide financial institution as it is known today through a series of alliances and acquisitions, the business of the Bank was concentrated in the Asian region, particularly in Hong Kong. Bush's last controversial act in office was his pardon of six former government employees implicated in the Iran-Contra scandal on December 24, 1992, most prominently former Secretary of Defense Caspar Weinberger. By the 1880s, the bank was acting as banker to the Hong Kong government under British rule. Perot won 19% of the popular vote, and Clinton, still a largely unknown quantity in American politics, won the election. HSBC was first established in Hong Kong in March 1865. Another major factor, which may have helped Bill Clinton defeat Bush in the 1992 election was the candidacy of Ross Perot. HSBC also owns the rail leasing company HSBC Rail (formerly Forward Trust Rail). In doing so, Bush alienated many members of his conservative base, losing their support for his re-election. In traditional City jargon the bank is known as "Honkers and Shankers". Several other factors were key in his defeat, including siding with Congressional Democrats in 1990 to raise taxes despite his famous "Read my lips: No new taxes" pledge not to institute any new taxes. Its shares are one of the largest components of the FTSE 100 Index. The tail end of the late 1980s recession, that had dogged most of Bush's term in office, was a contributing factor to his defeat in the 1992 Presidential election. HSBC is one of the five largest banks in the United Kingdom, along with Barclays, Royal Bank of Scotland / Natwest, Lloyds TSB and HBOS. President Bush's popularity rating in America soared during and immediately after the apparent success of the military operations, but later fell due to an economic recession. . It would have been disastrous." fas.org. Andrew, the patron saint of Scotland, was crucified upon. We're going to be an occupying power — America in an Arab land — with no allies at our side. The HSBC logo is derived from the Scottish flag which is the angular cross St. [3][4] In explaining to Gulf War veterans why he chose not to pursue the war further, he said, "whose life would be on my hands as the commander-in-chief because I, unilaterally, went beyond the international law, went beyond the stated mission, and said we're going to show our macho? We're going into Baghdad. It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by tier 1 capital [3]. We would have been forced to occupy Baghdad and, in effect, rule Iraq". Before moving the headquarters to London in early 1990s, it was headquartered in Hong Kong. His Secretary of Defense Dick Cheney noted that invading the country would get the United States "bogged down in the quagmire inside Iraq." [2] Bush later explained that he did not give the order to overthrow the Iraqi government because it would have "incurred incalculable human and political costs.. Nearly 40% of its earnings is from operations in Hong Kong. In a foreign policy move that would later be questioned, President Bush achieved his stated objectives of liberating Kuwait and forcing Iraqi withdrawal, then ordered a cessation of combat operations —allowing Saddam Hussein to stay in power. It reports its numbers in US dollars as 70% of its earnings come from outside the UK. This is war against aggression.". The bank is the third largest corporation in terms of assets ([2]). Bush's position was summed up succinctly when he said, "This aggression will not stand," and "this is not a war for oil. Its founding member is The Hongkong and Shanghai Banking Corporation Limited, a bank established by the Scot Thomas Sutherland to finance British trade in the Far East in 1865. The broad coalition sought to remove Iraqi forces from Kuwait and ensure that Iraq did not invade Saudi Arabia. It is headquartered in London, with its head office based in the HSBC Tower, London, a part of the Canary Wharf development in the London Docklands. In 1990, led by Saddam Hussein, Iraq invaded its oil-rich neighbor to the south, Kuwait. HSBC Holdings PLC (NYSE: HBC, LSE: HSBA, HKSE: 005, Euronext: HSBC), is one of the largest banking groups in the world. As President, Bush is perhaps best known for leading the United Nations coalition in the 1990–1991 Gulf War. 2004 - acquisition of 19.9% of the Bank of Communication of Shanghai, China. In his January 20, 1989 Inaugural Address upon taking the Presidency, Bush said:. 2004 - acquisition of Marks & Spencer Retail Financial Services Holdings Ltd.;. Foreign policy drove the Bush presidency from its first days. 2004 - acquisition of The Bank of Bermuda Limited of Bermuda; shares are traded on a fifth stock exchange, the Bermuda Stock Exchange;. Novak and Rove deny that Rove was the leaker of the information to discredit Mosbacher, but Mosbacher maintains that "Rove is the only one with a motive to leak this.". 2003 - November 20, a bomb blast in Istanbul destroyed the bank's head office in Turkey causing several deaths and hundreds of injuries. Novak provided some evidence of motive in his column describing the later firing of Mosbacher by former Senator Phil Gramm, "Also attending the session was political consultant Karl Rove, who had been shoved aside by Mosbacher". 2003 - acquisition of Household International of the United States. It was smoked out, and he was summarily ousted" (Esquire Magazine, January 2003). of Mexico. campaign after he planted a negative story with columnist Robert Novak about dissatisfaction with campaign fundraising chief and Bush loyalist Robert Mosbacher, Jr. de C.V. In 1992, "Sources close to the former president [said] Karl Rove was fired from the .. 2002 - acquisition of Grupo Financiero Bital, S.A. Although his victory was a landslide, Bush in 1988 was the last Republican to carry certain states, including Maryland, Illinois, Pennsylvania, and California, which have since gained the reputation as "blue states" that favor the Democratic Party in presidential elections. 2001 - acquisition of Demirbank TAS of Turkey. The Bush-Quayle ticket beat Michael Dukakis and Lloyd Bentsen soundly in the Electoral College, by 426 to 111 (Lloyd Bentsen received one vote). 2000 - acquisition of Crédit Commercial de France; shares are traded on a fourth stock exchange in Paris. The Horton case, and Dukakis's unconditional opposition to the reinstatement of capital punishment in the United States, played a role in creating the impression that Dukakis was "soft on crime." These images helped enhance Bush's stature as a possible Commander-in-Chief compared to the Massachusetts governor. 1999 - acquisition of Republic New York; shares are traded on a third stock exchange, the NYSE, as American Depositary Receipts or ADRs. Another, produced and placed by an independent group supporting Bush, referred to murderer Willie Horton who committed a rape and assault while on a furlough from a life sentence being served in Massachusetts. de Inversiones of Argentina and Banco Bamerindus of Brazil. Army tank. 1997 - acquisition of Roberts S.A. One advertisement run by the Bush campaign showed Dukakis awkwardly riding in a U.S. 1992 - acquisition of Midland Bank in the United Kingdom. The campaign was noted as particularly bitter compared to previous ones and became famous for its highly negative advertisements. 1991 - HSBC Holdings is established; shares are traded on the London and Hong Kong stock exchanges. Bush's acceptance speech and a generally well managed Convention catapulted him ahead of Dukakis in the polls, and he held the lead for the rest of the race. 1980s - Move into Canadian and Australian markets. Bush, often criticized for his lack of eloquence compared to Reagan, surprised many by giving possibly the best speech of his public career, widely known as the "Thousand points of light" speech[1] for his use of that phrase to describe his vision of American community. 1965 - Purchase of a controlling interest in Hang Seng Bank of Hong Kong. On the eve of the convention, Bush trailed Democratic nominee Michael Dukakis, then Massachusetts governor, by double digits in most polls. 1959 - acquisition of The British Bank of the Middle East and the Mercantile Bank (based in India). Senator Dan Quayle of Indiana. It is incorporated in Hong Kong by special dispensation from the British Treasury under the Hongkong and Shanghai Bank Ordinance 1866. In a move anticipated by few and later criticized by many, Bush chose little-known U.S. 1865 - The Hongkong and Shanghai Banking Corporation Limited is established in Shanghai to finance the growing trade between China and Europe. Leading up to the 1988 Republican National Convention, there was much speculation as to Bush's choice of running mate. However, Bush went on to win New Hampshire and the nomination. Senator Bob Dole and runner-up televangelist Pat Robertson. Though considered the early frontrunner for the nomination, Bush came in third in Iowa, beaten by winner U.S. In 1988, after 8 years as Vice President, Bush ran for President. Bush served as Acting President for approximately eight hours, most of which he passed playing tennis. During his second term as Vice President, Bush had the distinction of becoming the first Vice President to become Acting President when, on July 13, 1985, President Reagan underwent surgery to remove polyps from his colon. The Reagan/Bush ticket won again in 1984, against the Democrats' Walter Mondale/Geraldine Ferraro ticket. In the nomination fight against Reagan, Bush referred to Reagan's supply side-influenced plans for massive tax cuts as "voodoo economics.". Bush was also more moderate in his economic positions and political philosophy than Reagan. Bush had been many things Reagan had not been - a life-long Republican, and an internationalist with UN, CIA, and China experience. After nearly choosing former President Gerald Ford as his running mate, Reagan selected Bush as his Vice President, placing him on the winning Republican Presidential ticket of 1980. In 1980, Bush ran for President, losing the Republican Party nomination to Ronald Reagan, the former Governor of California. Bush has since commented that he did not paticuarly enjoy this string of jobs, saying he never wanted to be a "career bureaucrat." However, had Bush not received the succession of appointments after his Senate defeat in 1970, it is unlikely he would have risen to a level of national prominence in politics. Throughout the 1970s, under Presidents Richard Nixon and Gerald Ford, Bush briefly served in a number of positions, including Chairman of the Republican National Committee, United States Ambassador to the United Nations (1971-1973), US Envoy to Communist China, Director of the Central Intelligence Agency and board member of the Committee on the Present Danger. Bentsen proceeded to become the Democratic Party nominee for Vice President in the 1988 presidential election, and Secretary of the Treasury in the Clinton Administration. He later lost his second attempt at a Senate seat in 1970 to Democrat Lloyd Bentsen who defeated the incumbent Yarborough in the Democratic primary. He was later elected in 1966 and 1968 to the House of Representatives from the 7th District of Texas. Bush lost in the 1964 Democratic landslide. Bush called Yarborough an "extremist" and a "left wing demagogue" while Yarborough said Bush was a "carpetbagger" trying to buy a Senate seat "just as they would buy a seat on the New York Stock Exchange". John Tower of Texas) opposed the legislation. At the time many Southern politicians (including the Republican Sen. In 1964, Bush ventured into conventional politics by running against Texas' Democratic Senator Ralph Yarborough, making an issue of Yarborough's support of the Civil Rights Act of 1964. Bush's Secretary of Defense and, as of 2005, Vice President of the United States. W. Dresser Industries, decades later, merged with Halliburton, whose former CEOs include Dick Cheney, George H. His son, Neil Mallon Bush, is named after his employer at Dresser, Neil Mallon, who became a close family friend. He secured a position with Dresser Industries. Bush ventured into the highly speculative Texas oil exploration business after World War II with considerable success. ambassador to Hungary. Bush's first cousin George Herbert Walker III is the U.S. is the current head of the company. Bush's uncle George Herbert Walker, Jr. Walker & Co. Bush's maternal grandfather was George Herbert Walker Sr., the founder of G.H. The Bush political "dynasty" has been compared to that of John Adams and the Kennedy family. Bush's Governorship of Texas and subsequent election as president, and his son Jeb Bush's election as Governor of Florida. Prescott Bush, with his son George W. The family has built on Bush's political successes, and those of his father Sen. Their marriage produced six children: George W., Pauline Robinson ("Robin") (1949–1953, died of leukemia), John (Jeb), Neil, Marvin, and Dorothy Walker. He married Barbara Pierce on January 6, 1945. Throughout their lives, they remained friends despite political disagreement, as Coffin became a notable anti-war activist of the political left. Joining the Skull and Bones a year after him at Bush's request was William Sloane Coffin, a fellow classmate from the Phillips Academy. Bush (1917), inducted into the Skull and Bones secret society in 1948, helping him to build friendships and political support. Bush (1968) and his father Prescott S. As a Senior he was, like his son George W. While at Yale, he joined the Delta Kappa Epsilon fraternity and was elected President. With the surrender of Japan, he was honorably discharged in September 1945 and then entered Yale University. He was later assigned as a naval aviator in a new torpedo squadron, VT-153. Because of his valuable combat experience, Bush was reassigned to Norfolk Navy Base and put in a training wing for new torpedo pilots. Through 1944 he had flown 58 combat missions for which he received the Distinguished Flying Cross, three Air Medals, and the Presidential Unit Citation awarded aboard the San Jacinto. When San Jacinto returned to Guam, the squadron, which had suffered 50 percent casualties of its pilots, was replaced and sent to the United States. Bush subsequently returned to San Jacinto in November 1944 and participated in operations in the Philippines. During the month he remained on Finback Bush participated in the rescue of other pilots. For this action Bush received the Distinguished Flying Cross. Finback. While Bush anxiously waited four hours in his inflated raft, several fighters circled protectively overhead until he was rescued by the lifeguard submarine U.S.S. Both Delaney and White were killed in action. It was never determined which man bailed out with Bush. However, the other man's parachute did not open, and he fell to his death. With his engine on fire, Bush flew several miles from the island, where he and one other crew member on the TBM Avenger bailed out of the aircraft. He completed his attack and released the bombs over his target, scoring several damaging hits. While starting the attack, Bush's aircraft was hit and his engine caught on fire. During their attack four TBM Avengers from VT-51 encountered intense antiaircraft fire. For this mission his crew included Radioman Second Class John Delaney and Lieutenant Junior Grade William White, who substituted for Bush's regular gunner. On September 2, 1944, Bush piloted one of four aircraft from VT-51 that attacked the Japanese installations on Chichi Jima. After Bush's promotion to Lieutenant Junior Grade on August 1, San Jacinto commenced operations against the Japanese in the Bonin Islands. On July 25 Bush and another pilot received credit for sinking a small cargo ship off Palau. A submarine rescued the young pilot, although the plane was lost as well as the life of his navigator. On his return from the mission Bush's aircraft made a forced water landing. On June 19 the task force triumphed in one of the largest air battles of the war. San Jacinto was part of Task Force 58 that participated in operations against Marcus and Wake Islands in May, and then in the Marianas during June. San Jacinto in the spring of 1944. As part of Air Group 51, his squadron was based on U.S.S. After finishing flight training he was assigned to Torpedo Squadron (VT-51) as photographic officer in September 1943. Naval Reserve on June 9, 1943, several days before his 19th birthday, which made him the youngest naval aviator to that date. After completing the 10-month course, he was commissioned as an ensign in the U.S. Navy on his 18th birthday to become an aviator. After graduating from Phillips Academy in June, 1942, he joined the U.S. It was at Phillips Academy that Bush learned of the surprise attack on Pearl Harbor on December 7, 1941. Hooker. His roommate at the boarding school was a young man named Edward G. Bush attended Phillips Academy in Andover, Massachusetts from 1936 to 1942, where he demonstrated early leadership, captaining the baseball team, and was a member of an exclusive fraternity called the A.U.V, or "Auctoritas, Unitas, Veritas" – Latin for "Authority, Unity, Truth". George Bush began his formal education at the Greenwich Country Day School in Greenwich, Connecticut. Senator from Connecticut and was a partner in the prominent investment banking firm Brown Brothers Harriman. His father served as a U.S. George Herbert Walker Bush was born to Prescott Bush and Dorothy Walker. . Bush. He is the father of the current president George W. congressman from Texas (1967–1971), ambassador to the United Nations (1971–1973), Republican National Committee chairman (1973–1974), director of the CIA (1976–1977), and the 43rd Vice President of the United States under President Ronald Reagan (1981–1989). Previously, he had served as U.S. George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States (1989–1993). New York: Simon and Schuster. Hell of a Ride: Backstage at the White House Follies, 1989-1993. 1993. Podhoretz, John. New York: Harcourt Brace Jovanovic Publishers. Flight of the Avenger: George Bush at War. 1991. Hyams, Joe. Lawrence, KS: University Press of Kansas. The Presidency of George Bush. 2000. Green, John Robert. New York: Simon and Schuster. Marching in Place: The Status Quo Presidency of George Bush. Duffy, Michail & Dan Goodgame 1992. New York: Scribner. All the Best: George Bush: My Life and Other Writings. W., 1999. Bush, George H. Boston: Beacon Press. The Wimp Factor. 2004. Ducat. Stephen J. New York: Praeger Publishers, 1992. Leadership and the Bush Presidency: Prudence or Drift in an Era of Change. Stuckey, eds. and Mary E. Barilleaux, Ryan J. Tree of life publications. George Bush: The Unauthorized Biography. 2004. and Chaitkin, Anton. Tarpley, Webster G. On November 22, 2004, New York Republican Governor George Pataki named Bush and the other living former presidents (Gerald Ford, Jimmy Carter, and Bill Clinton) as honorary members of the board rebuilding the World Trade Center. The day before, he and his son both took part in eulogizing his predecessor, Ronald Reagan, at the latter's state funeral. On June 12, 2004, he went skydiving in honor of his 80th birthday, his first skydive since World War II. Clarence Thomas – 1991. David Souter – 1990. |