a medal to Juanita Moody of the National Security Agency Product Organization staff. [fn 63]
During his year at Langley, Bush was especially forthcoming towards Wall Street, above all
towards the family firm. On at least one occasion, Bush gave an exclusive private briefing,
including forecasts on the future development of the world energy market, for partners and
executives of Brown Brothers, Harriman. Such an incident, it is superfluous to point out, entails the
gravest questions of conflict of interest. On another occasion, Bush gave a similar briefing to theboard of directors of the Chase Manhattan Bank. [fn 64]
As always, Bush had special attention for Leo Cherne, the source of so much of the policy he
implemented at the CIA. On November 8, Bush had called Cherne's attention to a small item in US
News and World Report which suggested that "US assessments have so underrated Russia'sstrategic buildup that a top-secret study is under way to decide whether to strip the CIA of
responsibility for the estimates and give it to an independent office answerable directly to the
President." Another leak on Team B! Bush told Cherne that "the attached is the kind of publicity
that I am sure you would agree is very damaging. I really don't think there is much we can do about
it at this point, but I worry about it."
Bush left Langley with Carter's inauguration, leaving Knoche to serve a couple of months as acting
DCI. In early February Bush wrote again to Leo Cherne, with whom he was now on a first-name
basis:
Thanks for that lovely letter you sent me on Feb. 2nd. I aleaving for Houston a week from today. [...] lready miss our contacts a lot. I will be
Should you get down that way it would be great to see you. I am joining a couple of Boards that
will bring me East from time to time. I hope to keep up my interest in foreign affairs and in national
politics. It is quite unclear at the moment how to do these things.
The past has been fantastic; but now I am determined to look to the future. I know it will be full of
challenge. I hope it holds frequent contacts with Leo Cherne.
I will follow with interest the President's decisions on PFIAB. Holler if I can ever be of help to you.I value our friendship.
Sincerely, George [fn 65]
Carter abolished PFIAB and fired Cherne from the IOB. George Bush now turned to his familybusiness of international banking.
Return to the Table of Contents
NOTES:
- Nathan Miller, Spying for America, (New York, 1989), p. 399.
- Gerald R. Ford Library, Richard B. Cheney Files, Box 5.
- See Loch K. Johnson, A Season of Inquiry:The Senate Intelligence Investigation (University
Press of Kentucky, 1985), pp. 108-109. - Johnson, A Season of Inquiry, pp. 115-116.