Posted on 12/31/2001 2:06:48 PM PST by GeneD
Enron is likely to move from the business pages to the front pages the more that the capital scrutinizes the largest corporate bankruptcy in history. And lawmakers and regulators are sure to look very closely indeed.
At least four congressional committees, the Justice and Labor Departments and the Securities and Exchange Commission are investigating. This is on top of the many corporate inquiries that are ongoing. Washington is also bracing for political fall-out. And that could end up being quite extensive. The imbroglio could turn into a political scandal for the Bush administration.
Enron and its chairman, Ken Lay, are George W. Bush's largest campaign contributors, giving nearly $2 million since 1993. Two senior White House advisers, economic aide Larry Lindsey and U.S. Trade Representative Bob Zeolick were once employed by Enron, and until recently Republican National Chairman Marc Racicot lobbied for the company. What's more, Lay was one of the few energy industry CEOs to meet with Dick Cheney as the Veep was formulating the Bush energy plan.
So far, no one's found any link between Bush and Enron misdeeds. In fact, no one has yet officially found any Enron misdeeds at all. But if something were found, and a Bushie were part of the act, then brace yourselves for months of televised hearings. The Bush Whitewater. In the meantime, the labyrinth of connections has Democrats salivating. Democratic National Committee Chairman Terry McAuliffe says that he plans to highlight Enron in rallies designed to portray Bush and the GOP as fiscally irresponsible and overly favorable to corporations. "The collapse of Enron is an apt metaphor for how Republicans have cooked the federal books and don't take care of workers," McAuliffe says.
This will be the Democratic battle cry and is a reason why the Democratic-controlled Senate was so willing to abandon the stimulus legislation. It might not have gotten a bill but it did get an issue (giveaways to corporate special interests). Enron fits right in. Then again, the Democrats aren't completely clean in this matter. The Center for Responsive Politics lists Democratic Senators Chuck Schumer of New York, John Breaux of Louisiana, and Jeff Bingaman of New Mexico--chair of the Senate Energy Committee--among the top beneficiaries of Enron's political donations. No. 20 on the Enron money list since 1989 is the Senate's leading Democrat, Tom Daschle of South Dakota.
Most importantly, the bulk of Enron's alleged chicanery had to have happened during the Clinton administration. In those days, Lay golfed with Bill Clinton, hired the firm of Clinton's former chief of staff Mack McLarty, and retained as his top D.C. lobbyist Linda Robertson, a Democrat who worked for the Clinton Treasury Department. The DNC's McAuliffe asserts that "Enron equals Republican," but the math might not work out that way. Much of 2002 will deal with keeping score. And Happy New Year!
Published: Sept 1,1997 Author: MICHAEL WEISSKOPF
September 01, 1997 THE WHITE HOUSE THAT INVISIBLE MACK SURE CAN LEAVE HIS MARK BY MICHAEL WEISSKOPF/WASHINGTON Time Magazine In Part:
For a man who had supposedly vanished from the corridors of power, MACK MCLARTY was the man to see in 1996. BILL CLINTON's former chief of staff, now a White House counselor tucked away in the basement, provided assistance to businessmen who ponied up $1.5 million for the Democrats in the last election. On Nov. 22, 1995, for example, Clinton scrawled an FYI note to McLarty, enclosing a newspaper article on Enron Corp. and the vicissitudes of its $3 billion power-plant project in India. McLarty then reached out to Enron's chairman, KEN LAY, and over the next nine months closely monitored the project with the U.S. ambassador to New Delhi, keeping Lay informed of the Administration's efforts, according to White House documents reviewed by TIME. In June 1996, four days before India granted final approval to Enron's project, Lay's company gave $100,000 to the President's party. Enron denies that its gift was repayment for Clinton's attention, and White House special counsel LANNY DAVIS says McLarty acted out of concern for a major U.S. investment overseas.
Nevertheless, there does seem to be a McLarty pattern. At Clinton's request, he met with international oil consultant ROGER TAMRAZ and asked the Energy Department if the Administration could not be more supportive of his Caspian Sea pipeline proposal (Tamraz' contribution: $200,000). And last week the Washington Post reported that Davis says McLarty acted "appropriately" in every case.
I purchased this from the archives of Time magazine and have removed all references to the other funding Mack obtained from non Oil industries. The terms listed in the times archive purchase agreement have been met. I am only displaying a portion of the article and for non commercial purposes.
Pls note that Clinton knew Mr Lay for four years prior to Enron’s implosion. Why did not the democrats secure the pensions of the employees? Hmmmm?
Good points. And the Dems whine about how we should "move on" regarding Clinton, but they're the party who ran against Herbert Hoover for a good fifty years!
Let's see. Which Savings and Loan (under the control of friends of W.) did Bush borrow money from to invest in Enron, and exactly how much government money went to bail out depositors of that Savings and Loan when Bush failed to pay the loan on the otherwise mismanaged investment?
Has there even been a hint of a political contribution to Bush for political favors in this whole Enron mess?
Bush Whitewater, indeed. MAJOR BARF.
I would bet that Enron gave him lots of money .
Most Americans know how important our remaining energy companies are. Enron should have been a sure thing. The people wanted to drill at ANWR. The House passed the energy bill allowing for further exploration. The President campaigned, rallied, sent his requests to the House and Senate...Daschle's own Dem. majority energy committee wanted the energy bill to come to the floor. The Senate had the votes to pass it. What more does it take than the attack on 9-11 to illustrate the danger of our dependence on anti-American nations for our energy needs?
Enron should have been a sure thing.
Daschle, in spite of the President, the House, the Senate, the Will of the People, the citizens of Alaska, the Unions, Seniors, Hispanics...chose the even more powerful enviral lobby and pulled the bill off the floor completely. Anderson pulls out of Enron. Enron calls for bankruptcy.
Daschle, Gephardt and Gray Davis pay a Dec. 3rd weekend visit to Fox in Mexico. Fox starts the new year by stating that he's joining OPEC in cutting oil production. Partisan politics at its most dangerous.
We still need every American energy company to handle our needs. Could it be that Daschle, Gephardt and Davis are hoping that the private sector fails and that their personal (and party) power will be assured if the government is forced to step in and "rescue" the energy industry?
Enron was irresponsible, but Daschle most definitely pulled the plug on Enron, ANWR and our national security. The press RATs have been guarding the pol RATs, but Americans are not buying the lies. We are at war.
:-(
Have garlic, silver bullets and a Constitution handy? (^:
There's that criminal name again...McAuliffe; yep - if only the sheeple could find out about all of bastard McAuliffe's felonies!
(thanks for this important ping Cowgirl/bttt)
BTW, Jeff...any chance of you and some folks road-tripping up from Georgia and elsewhere to join a Major Double-Secret FReep of DNC Chairman Terry McAuliffe?! I know where he lives and am sure he'd just love a visit from FReepers accross the Nation...especially if we let FoxNewsChannel in on the ScoopOfTheMonth!!
Heh heh heh...time to go into Attack Mode and stay there until next November!! The Vast, RightWing Conspiracy shall be heard from in '02...mark my words.
"Dan's Bake Sale" FReegards...MUD
Just today at work I heard two liberals talking about "Bush Enronomics". It made me sick to my stomach. They're already starting their sloganeering about it.
We may be too late to stop this garbage from steamrolling into a created scandal. Admit it, the liberal media is going to milk this thing for as much anti-Bush venom as possible. They've been looking for anything to pin on Dubya since he was elected! You know they will be complicit in the DemocRAT lies and spread them as truth to the sheeple.
I think I'm going to be sick to my stomach again...
Where was the Securties and Exchange Commission when the top brass at these companies bailed with millions and the little people like me were left with a worthless stock that had been selling at 70 to 140 a share just a short time earlier?
No, I'm afraid they are going to concentrate on Enron and the losses there and forget about the much larger hosing we all took earlier.
www.motherjones.com has a searchable database of contributors to political campaigns. The Mother Jones 400.
I understand why the LEFT does not want investigating but when so many on the RIGHT put on the clothing of APATHY....it really bothers me.
Thanks ChaseR. AND Good one Ragtime Cowgirl.
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