Posted on 01/10/2002 6:17:17 PM PST by Liz
WASHINGTON - "Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall." --SNIP---
Enron had the best brains that money could buy, but gave the word "ethics" a whole new meaning. The cowboys of Dumpty Enron talked up a storm about ethics; but only a few at the top realized that "ethics" was an acronym for "Enron thinks how income can (be) stolen."
That's a stretch; but look at their 1994 sales team - Clinton, Gore and the late Ron Brown - a trio unlimited and uncontrolled in their cunning and greed.
In what seems to be eons ago, before Gov. Bill Clinton became president, the late, much loved and little lamented Ron Brown was Clinton's good friend and a power broker in the National Democratic Party. Ron Brown had a friend, a congressman from Houston, the late Mickey Leland, who died in 1989. Until his passing, Leland was a shining light in the Congressional Black Caucus and a dedicated socialist, who was one of the Institute for Policy Studies' delights.
From 1984, when Enron was conceived, Brown and Leland were there snapping up unconsidered trifles of money for use in their campaigns against the free market. Mickey was able to ease a lot of Enron's early problems through the Houston City Council by playing his "equal opportunity card." He had also become an African expert who initially took the Enron message to that continent, a chore that was taken on by Ron Brown, Clinton's secretary of commerce, before the latter met his untimely death in a highly controversial plane crash in Croatia. (Untimely, because had Secretary Brown lived, he would have faced multiple criminal indictments that could have precipitated an even earlier fall for Bill Clinton and his gang.)
Now we get to that old puzzle about chickens and eggs, and what came first! Ron Brown, Al Gore and Bill Clinton introduced Enron to market managers in Russia, China, Indonesia and India. In India, Enron quickly became involved in one of that country's most massive corruption investigations, contracts were canceled and Enron was out.
On the other hand, Enron introduced the Clinton team to Lippo Industries and thence to China's People's Liberation Army (a wonderful source of political cash), to John Huang, another good provider and to nameless, numberless Arabs who never arrived with empty pockets. If we look at a list of those attending coffee klatches at the White House, we can learn why a storm of doubtful deals enabled Enron to quickly control one-quarter of the world's electricity and natural gas. But, that wasn't enough. The ever-so-greedy Dumpty moved in to water deals in Massachusetts and Europe, paper mills in Canada, gas pipe lines throughout the world, fiber optics, television, mutual funds and information gathering. In turn, that led to risk analysis, a name that those clever Texans quickly changed to "reward realization!"
The rewards were good! Enron, with sales assistance from Tony Lake, then Clinton's national security adviser, persuaded the impoverished, war-torn country of Mozambique to sign a $770 million electric power contract. Mozambique signed because Tony's salesmanship was persuasive. If the Mozambicans didn't sign, he indicated that their congressionally approved $44 million U.S. aid payment would never be made.
And there was the Croatian caper. In the days when Franjo Tudjman was Croatia's dictator and pretending to be both a reformed communist and best friend of America in the Balkans, poor Franjo had a problem. He and some of his very best friends were wanted as war criminals by the Hague's International Court of Justice. Enron wanted a power contract with Croatia. Enron offered a deal to Tudjman. Sign up with us and we will use our gang in Washington to make sure you and your friends don't go to jail.
Tudjman signed. Enron made a heap of money. Nobody went to jail. Everyone was happy - until Tudjman died of cancer. Then the lid was off, his Croatian Democratic Union was defeated and the new boys in power in Zagreb could not believe how much of their budget went to pay the electricity bills from Enron.
Somebody - probably another Dr. Spock child eager to tell on his peers - prattled! Under quiet pressure from the Croats, another deal was made and a couple of guys were charged as war criminals. Electricity costs went down (but not to the consumers) and as a part of the deal nobody talked, except about the wonderful vacations that they were enjoying in the Caribbean.
This could be called a "cautionary tale." There are two cautions. The first: Beware of the Spock babies now that they are nearing retirement and losing whatever sense they had. The second: Investigators all, beware, as you look into the depths and shallows of Enron you may, if you are truly unlucky, find the truth. And, if you do, these truths won't make you free, just well informed.
"Dateline D.C." is written by a Washington, D.C.-based British journalist and political observer.
The entire process of Enron's Dabhol deal was corrupted from start to finish. The corruption between Enron and local authorities had a lot to do with local opposition to the project and calls for Enron to split, even if it wasn't mentioned in the BBC report that you cited.
The corruption in the setup of Enron for this project is well documented and I concur. However, the local opposition says more about India's ongoing preference towards socialism by many than it does about corruption and was not the result of corruption, unless you have proof about that you'd like to share.
The calls for them to split had to do with residents and businesses not wanting to pay the power fees as a result of Enron's demanded tariffs. If you think about it, it totally goes against the corruption argument....
Enron demands a higher tariff than their sole customer wants to pay. The customer refuses and counters with a lower tarrif acceptable to them. Enron says no way and eventually leaves siting irreconcilable differences ,after having made a tremendous investment in the project. They spent a huge sum of money and were relying on a steady stream of income to help pay it off and to make it profitable.
They got screwed and were perhaps very foolish for believing India would go through the necessary market changes to become a free market. India didn't, still hasn't and probably won't for a very long time. Why? Because many in India still believe in the marxist doctrine. That, Black Jade is the only story regrding Enron's exit.
Like I said to Liz (who never answered my challenge), if you have proof to the contrary- put it up.
FYI, the assorted socialist/marxists of India who made trouble for the ruling BJP on this and many other issues make up an assortment of parties, including the Communist Party of India-Marxists, Communist Party of India, Communist Party of India-Marxists Lenninist, Forward Bloc, Nationalist Congress Party, and others.
Don't bother to ping me with crap.
more garbage from the same Indian marxists
No marxists in India, huh Black Jade? Educate thyself... And no connection at all to the Maharashtra state gov's refusal to pay the tarrifs. Nope, no marxists, no evidence. Nothing but tinfoil coming from me. Get a clue, bro!
Here's some more education, more clues for you....
Crucial DF meet to decide Enron, PPA fate
Wednesday, July 4 101 14:56 Hrs (IST)
Mumbai: The crucial coordination committee meeting of the eight-party Democratic Front (DF) government in Maharashtra on July 4 is expected to finalise its stand on the controversial Enron power project and related issues pertaining to its Power Purchase Agreement (PPA).
The meeting, which will be held at the state government-owned Sahayadri Guest House at Malabar Hill here, will follow the Cabinet meeting. According to the DF government sources, the main agenda will be the demand for a judicial probe into the controversial project put forth by alliance partners such as Peasants and Workers Party, Janata Dal (Secular), Samajwadi Party and Communist Party of India and Communist Party of India (Marxist).
Enough? Or would you like more??????????? barf...
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