Monday, March 09, 2009

Rep. Mike Conaway Gets Another Chance to Use CPA

A House subcommittee was formed to study Defense Department purchasing. West Texas Congressman Mike Conaway netted the ranking member slot. Conaway is a certified public accountant. That skill didn't show when he hesitated to ban naked credit default swaps. He didn't speak from his deep financial knowledge when he voted against the Wall Street bailout, before he voted for it. Maybe he'll do better in this role.

Will Carlyle's Booz, Allen, Hamilton advise Conaway, Congress or the Pentagon? Vice President Dov Zakheim sits on the Commission on Wartime Contracting. Indefinite quantity, indefinite delivery contracts became ubiquitous during the Bush administration, when Zakheim was the Pentagon's Chief Financial Officer.

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