While no doubt dying to talk about something other than Macaca , this isn't exactly what he had in mind. It seems that Virginia Senator George Felix Allen is now facing rumors about impropriety at a tech company on whose board of directors he formerly sat.
In the late 90s, Allen was intimately involved with Xybernaut, now in bankruptcy and facing several shareholder lawsuits. What happened?
Xybernaut clearly engaged in questionable activities – and did plenty of business with questionable characters – while Allen was a director with a responsibility to protect shareholders' interests. Xybernaut's rise, indeed, was driven by some of the financial industry's seediest bottom-feeders – questionable stock touters, offshore front groups involved in money laundering, and foreign financiers linked to short-selling, securities fraud, and, in 2005, the collapse of a major Wall Street brokerage firm. Driving Xybernaut upward as well were the determined efforts of its officers to promote and sell the company's stock to unwitting small investors, even as the company's fundamentals spiraled ever more out of control.
Allen has not been named in any of the shareholder lawsuits, yet since the man calls the US Senate "the best board of directors in the world", I think it is only fair that we consider his tenure on other boards as well…right cowboy?
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