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Savings Experiment: Snow RemovalI thought it couldn't be done.
Israel's Prime Minister, Ehud Olmert, has been implicated in so many slippery business dealings that he would give Crisco a run for its money. But I read today that the Israel Police recommended closing the investigation into Prime Minister Ehud Olmert's conduct in what is know in Israel as the Bank Leumi Affair.
The affair runs has its ins-and-outs but in short, Olmert is suspected, when acting as as Minister of Finance in the Sharon government, of trying to influence the sale of the controlling stake in Bank Leumi in favor of an associate, Australian businessman Frank Lowy.
The Israel Police, having looked at the evidence before them, has recommended closing the case. Israel's Attorney General, Meni Mazuz, will take the police's opinion into consideration as he manages the case against Olmert.
There are currently two other investigations still underway into Olmert's affairs. One involves his purchase of a property on Cremieux Street in Jerusalem, which Olmert is suspected of buying below market value in return for promoting the developer's business interests at the Jerusalem municipality when he was mayor. Olmert is also suspected of making political appointments when he held the portfolio of the Ministry of Industry, Trade, and Labor.
Whether Olmert is actually guilty of any of these allegations is beyond the scope of this author's purview. It is amazing to watch a master politician manage all the gauntlets being thrown down before him. He may not be a good prime minister (IMHO), but he could do wonders taking over the helm of some of the beaten-down banking and mortgage companies. With all his maneuvering, he could probably steer these guys out of trouble.
Olmert for CEO of Countrywide Financial (NYSE: CFC)?
Zack Miller is the managing editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. He holds no positions in the stocks mentioned above.
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Reader Comments (Page 1 of 1)
12-02-2007 @ 11:32PM
harold horowitz said...
The cynical edge really doesn't enhance the dialogue or chances for peace in Israel.Whatever side of the political spectrum you take,we should not be jocular about Olmert's actions.
12-02-2007 @ 10:55PM
ohioman said...
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