Among the sub-plots boiling under the Bush administration's management of the Iraq war is the disturbing connection between Dick Cheney and Halliburton Co.

Cheney was Halliburton's chief executive for the five years before he signed on as George Bush's running mate in the 2000 presidential election. Halliburton is the company that was given - without much explanation by the Bush administration - an exclusive, no-bid contract to clean up after the Iraq war.

It's been a sweet deal for Halliburton. Recent government documents show Halliburton has received more than $1.7 billion in U.S. taxpayers' money to start putting things right in Iraq. Now, the Congressional Research Service has issued a report showing Cheney still has financial ties to Halliburton.

Cheney received more than $450,000 in deferred compensation from the company for 2001 and 2002 - after he quit and became vice president. The Research Service report also indicates Cheney has retained 433,000 in Halliburton stock options.

A spokesperson for Cheney denied that the vice president has any remaining financial connections to the company, and that all proceeds from the stock options have been irrevocably assigned to charities. There was no mention of which charities would benefit.

But the Office of Government Ethics makes it clear that stock options and/or deferred salary are links to a former employer. Like it or not, Cheney still has a financial interest in the company that now is reaping windfall benefits from its work for the government that Cheney helps oversee.

The vice president should either step down from office or sever his connection to Halliburton.

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Sept. 29, 2003