Fred Thompson, Round 1

As hard as it may be to believe, there are people out there who favorably view former Senator Fred Thompson (R-TN) entering the race for the presidency. Heck, they may actually believe that the so-called “Draft Thompson” internet campaigns are actually grass-roots in nature, rather than the carefully orchestrated political affairs that they are. Regardless, it seemed a good time to start putting out a few facts about this “New Reagan.” If Thompson does look good, it is only because of the poor company he’s keeping among Republican presidential contenders.

Thompson acted as a Washington, DC, lobbyist during the years of 1975 through 1992. He represented clients including Westinghouse, GE, and former Haitian President Jean-Bertrand Aristide. He also lobbied on behalf of the Tennessee Savings and Loan League for the deregulation of the savings and loan (S&L) industry. His recommendations were incorporated into the Garn-St. Germain Depository Institutions Act of 1982. This act was a direct factor in the S&L crisis of the late 1980s that cost US taxpayers $125 billion.

From 2004 through 2007, Thompson worked for London-based Equitas Ltd, making $760,000.00 annually to lobby his former Senate colleagues. Equitas was in a pickle over asbestos-related health claims against the company. Thompson lobbied to remove a provision in a 2005 bill that would have forced Equitas to pay out a very substantial portion of an earlier agreed to settlement with those suing for health-related damages. His efforts were successful, getting Equitas off the hook.

Other activities after his Senate career include advocating for the invasion of Iraq and the war that followed, including doing a commercial for the pro-war organization Citizens United. He also served on the advisory board of the legal defense fund for I. Lewis “Scooter” Libby, who was convicted of obstruction of justice during the investigation of the Plame scandal. (Both of these should disqualify him from contention in the race for the presidency.)

We’ll have time going forward to flesh out Thompson as a candidate. I like him as an actor, but can he possibly be taken seriously as a president? Stay tuned.

20 June 2007