Brothers, Bad Blood and the Blackwater Tangle
Key Excerpts from Article on Website of New York Times
Posted: November 25th, 2007
They were smart, scrappy brothers who rose from modest circumstances in Baltimore to become lacrosse stars at Princeton, succeed in business and land big government jobs. Now the Krongard brothers who have carried childhood nicknames, Buzzy and Cookie, through long careers are tied up in the tangled story of Blackwater, the security contractor accused in the deaths of at least 17 Iraqis while guarding a State Department convoy in Baghdad. The shorthand version boils their involvement down to that Washington catchall conflict of interest. The full story appears more complicated. Alvin [Buzzy] Krongard, 71, ... left a $4 million-a-year job in investment banking to serve in top posts at the Central Intelligence Agency from 1998 to 2004. Buzzy Krongard spoke [to the New York Times] in his 15,000-square-foot Georgian mansion, Torch Hill, north of Baltimore. After rising to the helm of Alex. Brown & Sons, the venerable Baltimore investment banking firm, Buzzy Krongard oversaw its acquisition by Bankers Trust in 1997 and left the next year for the C.I.A., as a counselor to George J. Tenet, then the director of central intelligence. He became executive director, the No. 3 post, in 2001 and helped design the agencys secret detention program after the Sept. 11 attacks. Buzzy Krongard vigorously defends Blackwaters record in Iraq. Its very easy to second-guess them when youre sitting back in an air-conditioned office, he said.
Note: Buzzy Krongard took quite a cut in pay to move from Bankers Trust to the comparatively modest salary of even a high-ranking CIA position. Bankers Trust was purchased by the same company that placed the highly unusual and suspicious "put options" on United Airlines stock just days before 9/11. For a powerful summary of similarly strange, unexplained facts related to 9/11, click here.