The CIA's contacts with big business quickly spread. The agency showed a preference for international companies, public relations firms, media companies, law offices, banks, financiers and stockbrokers. The CIA didn't limit its activities to recruiting businessmen; sometimes the CIA bought or created entire companies outright. One benefit of co-opting big business was that the CIA was able to create a secret source of funds other than from government. With stock portfolios multiplying their profits, it's impossible now to say just how flush the CIA really is. If Congress ever cut off funds for a mission, the business fraternity could easily replace them, either by donations or even by setting up profitable businesses in the target country. In fact, this is precisely what happened during the Iran/Contra scandal.
By allying itself with the business community, the CIA received the funds and thus the ability it needed to remove itself from democratic oversight and control.
The Media and the CIA
Journalism is a perfect cover for CIA agents. People talk freely to journalists, and few think suspiciously of a journalist aggressively searching for information. Journalists also have power, influence and clout. Not surprisingly, the CIA began a mission in the late 1940s to recruit American journalists on a wide scale, a mission it dubbed Operation MOCKINGBIRD. The agency wanted these journalists not only to relay any sensitive information they discovered, but also to write anti-communist, pro-capitalist propaganda when needed.
The instigators of MOCKINGBIRD were Frank Wisner, Allan Dulles, Richard Helms and Philip Graham. Graham was the husband of Katherine Graham, the former publisher of the Washington Post. In fact, it was the Post's ties to the CIA that allowed it to grow so quickly after the war, both in readership and influence.8
MOCKINGBIRD was extraordinarily successful. In no time, the agency had recruited at least 25 media organizations to disseminate CIA propaganda. At least 400 journalists would eventually join the CIA payroll, according to the CIA's testimony before a stunned Church Committee in 1975. (The committee felt the true number was considerably higher.) The names of those recruited reads like a Who's Who of journalism:
Philip and Katharine Graham (Publishers, Washington Post)
William Paley (President, CBS)
Henry Luce (Publisher, Time and Life magazine)
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