Enron: The Democratic Battle Cry?

Fortune.com ^ | 12/27/2001 | Jeffrey H. Birnbaum

[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!

[TLBSHOW]

No. 20 on the Enron money list since 1989 is the Senate's leading Democrat, Tom Daschle of South Dakota."

[TLBSHOW]

"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.

[scooby321]

Awesome research

[LiberteeBell]

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?

I like your analysis; something has to be up with these fools. Anyone who can't see that we need to get off the foreign teat for oil has been living under a cave for some time.

[Ragtime Cowgirl]

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.

Hi Snow Bunny! Here I am a day late again (still laughing over the "my friend has lost it" comment on the Canteen thread, LOL).

Having watched the press treatment of Dems. and Reps. over the years, and especially since 9-11, I wonder who in the mainstream media would even cover the Republicans' protests (with the exception of a very few journalists). Daschle's PR pieces are picked up by AP and published with lies and spin intact, much like the Hillary Senate campaign...the Dems. know they can get away with anything, the courts and the press have seen to it over the past decades. I don't want to have to lie, cheat, steal, demonize and behave as badly as most of the Dems. do to win an election. I think Rumsfeld's manner with the press corp is the best model for dealing with the press, Dems. and the American people...calm, mature, replaying the opponents comments back at them followed by the simple, solid truth. Hugs.(^:

[Snow Bunny]

Good one, thank you !!!!!

[Askel5]

The perfect antidote ... a Black Jade post.

I'll make certain it's her "latest posts" (not latest articles) that's linked on my homepage. Enjoy!

[batter]

Thanks for the posts. We'll see if the GOP will fight back at all or just sit on their hands...

[Mudboy Slim]

"Big companies routinely play both sides of the fence in order to cover themselves no matter who ends up in power at a given time. This is so blatantly obvious that it was even part of a West Wing storyline a couple weeks ago. That's exactly how multinational firms get their way..."

That's why there should never be a Department of Commerce...we don't want the Federal Guv'ment to have the Power to Choose Winners and Losers with respect to US Corporations' Success with Overseas Sales.

See, my FRiend, accross the board, Less-Federal Guv'ment!! Works every time it's tried!!

FReegards...MUD

[Robert357]

I liked the parody, but seriously, as to folks playing both sides of an issue by funding campaign contributions to both sides. It happens a lot, but it doesn't really buy much, in my opinion. Recently I have been involved with a few elections up in Washington state. I can tell you that the candidates and their campaign committees for even local elections, read the disclosure reports for their opponents quite closely. I was shocked at how much "connect the dots" is done by campaigns and candidates (business associcates, shit-tail relatives, etc).

[spotbird]

The problem as I see it is that there are issues the media will run with which really do look bad for Bush. Ken lay spent the night in the Lincoln bedroom with Bush as president. Lay was throwing his political weight around Government agencies, not that he influenced anyone, but it looks bad considering the support he's given Bush. Bush needs to start acting as if he never respected Lay or that Lay never influenced him.

[spectre]

Warren Christopher made a trip to Buenos Aires, Argentina, February 29, 1996. He toured a Wal-Mart store, gave a speech which contained the following remark.

"Companies like Wal-Mart, GTE, and Enron are providing good jobs and great new opprtunities in both of our countries. Through our efforts to open new markets, to eliminate trade barriers, the Clinton Administration is trying to do its part to make this kind of an investment profitable and possible."

Just a tiny example of how Clinton and Enron knew each other.

sw

[tubebender]

The American public has been through to many of these failures to even notice.

Nothing to see here, move along.

[spectre]

"They knew each other VERY well".

Thank you!

sw