Word: barbours
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When TIME reported two weeks ago that Hong Kong interests used a U.S. shell corporation to guarantee a $2.2 million loan to a G.O.P. think tank, ex-party chairman Haley Barbour (the think tank's head) denied knowledge of foreign backing. But a secret memo obtained by TIME shows that a year before Young Bros. Development-USA collateralized the 1994 loan, Barbour was advised of plans to seek overseas funds for the National Policy Forum. Last week the G.O.P. refunded $122,400 in Young Bros. campaign money, conceding its illegal Hong Kong origins. Democrats, smelling blood after months of battering...
...soft money given to the R.N.C. Former party chairman Haley Barbour, who engineered the loan guarantee, has insisted that the G.O.P.'s white knight is all-American. Last week, however, R.N.C. spokeswoman Mary Crawford backed off that assertion. While the party has "nothing in our records" to indicate that Young Brothers Development--USA is foreign-owned, she said, R.N.C. lawyers will investigate the issue, and money will be returned if it was generated overseas. She hastened to draw whatever party distinctions were left: "We have never had an orchestrated program to solicit funds from foreigners...
...Young's associates came forward last week to clarify how the loan guarantee evolved. An overture for the guarantee came in mid-1994 at a dinner with Barbour as host for Young at Sam & Harry's, a Washington haunt popular with politicians. Barbour said the G.O.P. think tank would use the loan to pay back its start-up money to the R.N.C., which was then gearing up for the midterm election. Indeed, the think tank transferred $1.6 million to the R.N.C. three weeks before the triumphant G.O.P. takeover of Congress. Young received a taste of the victory in a meeting...
...Barbour told TIME last week that the guarantee and settlement were "perfectly legal and totally appropriate." He was less charitable when describing the Democrats' foreign fund raising last fall. Two weeks before the election, Barbour criticized the Clinton White House for trying to "cover up this well-organized scheme of foreign contributions and influence peddling...
...Taipei and sits on the board of an aerospace company close to the ruling Nationalist government. He is known as "the man to see" if you want to get a hearing in Asian aerospace circles. Little else about him is publicly available--at least not yet. Last Friday, Haley Barbour received a new subpoena, this one asking for all records relating to the National Policy Forum. With Washington's investigations widening to include Republican backers, the well-guarded anonymity of Ambrous Tung Young may be coming...