Enron Probe Crosses Many Political Borders

FOXNews.com / AP contributed ^ | January 10, 2002 | Staff

[Uncle Bill]

WASHINGTON

[Uncle Bill]

Rep. Cannon: How the Senate Fixed the Impeachment "Trial"

[OKCSubmariner]

BTTT!!!!

The phrase "We have the best politicians money can buy" fits the Repubs and the Democrats.

The incestuousness of both political parties with corrupt company executives like at Enron and foreign governemnt contributors is destroying our country and clouding the judgement and wisdom of its leaders.

There are many other Enrons out there (many on a smaller but still a large scale) where auditors, regulators, bankers cook the books and get away with it because of political influence pedaling and because COngress delibereately has not passed any laws to clean up reporting requirements within 15 years that have been repeatedly requested and ignored even though urged by SEC officials.

This reminds me of the plundering of the savings and loans under HW Bush that fattened the Bushes under Silverado and the Democrats like John Glenn and others. No oversight, no regulation just the raiding of people's savings like was done at Enron despite pleas for years to Repubs and Democrats to do something. Pleas that were ignored because too many corrupt savings and loan executives bought the silence of the Repubs and Democrats with campaign contributions (the Keating five).

This is staring to look like the decay, the rot and the decline of the second Roman empire (the US) from within.

Without energy, with 17 months of declining industrial capability (including the ability to make steel and machine heavy equipment)and with record balance of trade deficits for over a decade, the American economy and standard of living could move in the direction of a third world country and her failed banking system and her corrupt politicians and her corrupt corporate executives will not be able to save her.

China must love to see this. All they have to do is keep up the pressure on the US through proxy terrorists and illegal contributions to Repubs and Democrats and through espionage, and then the Chinese can come in and pick up the pieces left of the AMerican economy for 10 cents on the dollar. THe CHinese bought up oil rigs in OKlahoma in the early 1990s for 10 cents on the dollar and these rigs can not be replaced for decades since the US no longer has the steel and fabrication capacity to do so-they were also shipped overseas.

The Chinese have had five thousand years of experince on knowing how to gut and plunder a country like America.

But GW Bush still says China is our friend and GW Bush got elected with the campaign contributions from the CHinese, from Arab terror groups and corrupt executives at Enron just like Clinton and Cheney did.

[OKCSubmariner]

BUMP! Please see reply #22.

[Deb]

Enron gave $100,000 to the Democrat party days before they went under, I notice it doesn't show up on our list. Or the contributions to Clinton.

[Deb]

Since every single Democrat Senator voted to save Clinton's fat ass and only one or two Republicans joined them, your blanket condemnation doesn't quite work.

I've gotten really sick of the "both sides" mantra.

[wooly_mammoth]

bttt

[Always Right]

Earlier this year the Houston Astros inaugurated their new Enron Field, which was financed with $180 million in public tax dollars and $100 million from Enron. In return, Enron landed tax breaks and a $200 million contract to power the stadium.

Actually, that sounds like an awesome deal for the state, IMHO.

[wooly_mammoth]

Perhap you speak the truth but Jackson Stephens (the main backer of Clintoon) also gave contributions to republicans. Should we thereby conclude that Clinton was clean? Anyway, nice to see the old screen name crawl out from under it's rock, not that there aren't at least 2 or 3 people posting under that name at different times.

[Uncle Bill]

Click me:

No energy executive made more last year than Kenneth L. Lay, chairman of Houston-based Enron Corp. Lay collected $141.6 million in salary, bonuses and stock, a 184 percent increase over 1999

THE ENRON-AROUND

The New York Post
By PAUL THARP
December 1, 2001

Failed energy giant Enron - just days away from filing for bankruptcy - is leaving pension funds and small investors out in the cold from recovering even a dime from the scandal.

Wall Street firms and banks around the world are at the front of the long line to recoup money tied up in Enron, and stand a better chance of getting back at least some of their doomed billions.

The bank with one of the largest exposures to the debacle - J.P. Morgan Chase - believes it will lose only a fraction of its $900 million invested in Enron.

J.P. Morgan loaned Enron $400 million, but that was secured with a valuable Enron gas pipeline worth in excess of $2 billion. Another $500 million of J.P. Morgan's money was invested in various securities of Enron, which could be traded out over the next several days to recover as much as half of the original $500 million pot, bank insiders said.

But mutual funds that held about one of every five shares of Enron have no recourse to cushion their fund members' losses, which could surpass $15 billion in market value.

Shares are now virtually worthless, collapsing from $90 each a year ago to just 26 cents yesterday. Enron's market value of $70 billion a year ago has evaporated to a paltry $193 million today.

The mutual fund that held the most Enron stock - Alliance Premier Growth A - had bought a big chunk just weeks before Enron collapsed. Its total stake in September was worth $1.5 billion but at today's current price, the same stake would be worth just $4.3 million.

The same lament is being played out in more than 600 other mutual funds that collectively held 22 percent of Enron's outstanding shares - a stake that shrank from more than $15 billion in market value to just $42.5 million.

Despite the financial disaster, J.P. Morgan is going back to Enron to loan it even more money. J.P.Morgan and Salomon Smith Barney are said to be lining up another $1 billion to loan Enron so that Enron can keep doing deals during its bankruptcy, earning the lenders an even higher payoff for their new risks.

Those loans would be secured in part by $1.8 billion in proceeds Enron expects to receive by selling its Portland General Electric Co. unit. Enron is also considering using its Northern Natural Gas Co. pipeline, worth about $2.7 billion, as collateral for new loans.

The pipeline assets, however, are also being used as collateral for a loan that Dynegy Inc. and other banks had made earlier this month. Numerous lawsuits are expected over the pipeline's ownership. As a prelude to bankruptcy filing, Enron fired 1,100 employees yesterday in the United Kingdom and stopped delivering electricity to customers. More layoffs are expected in the U.S. Enron has 21,000 employees.

Meanwhile, insurance companies plan to stage lengthy legal wrangles to stave off coughing up nearly $3 billion in liability payouts they face over the scandal.

It includes insurance policies covering misdeeds and improper acts by Enron's management, as well as liability coverage for Enron's long-time auditor, Arthur Andersen, which is under investigation for whether Enron's books were cooked.

Pension funds across the U.S. are also reeling from the debacle.

The California Public Employees' Retirement System, America's biggest public pension, still held 3 million shares of Enron earlier this week. That could have represented a loss of as much as $200 million.

The New York State Common Retirement System said it lost as much as $60 million.

The list of banks and companies hurt by Enron continued to grow longer yesterday around the globe, from Germany to Australia to Asia. Expected losses could surpass $3 billion. U.S. banks have as much as $2.6 billion of exposure.

Bear Stearns said its exposure to Enron is $69 million. Energy companies Duke Energy Corp. and Williams Cos. were left holding the bag for $100 million each in unpaid contracts.

ABN Amro said it may set aside $97.5 million to cover its loans to Enron. Britain's Abbey National said it's owed almost $135 million. National Australia and other Australian lenders said exposure totals about $350 million. France's Credit Lyonnais SA said it has $250 million in loans outstanding.

---

"While the U.S. and the West were bailing out Russia's economy with money from the IMF and the World Bank, 700 Russian officials were reaping the financial benefits of insider trading..."

Another Brown document for the Russian trip, dated February 1994, lists Tamraz along with CEO's from Tenneco, Texaco, ARCO, Enron, Conoco, AT&T, Motorola, and Silicon Graphics.

The lawsuit said Lou Pai, chairman and chief executive of Enron unit Enron Accelerator, allegedly gained the most from insider trading of Enron shares, reaping $353.7 million. Lay alleged posted a gain of $101.3 million, the second-highest.

[philman_36]

Such interesting times we live in.
So many more I should flag, but hey...

[Uncle Bill]

"Enron gave $100,000 to the Democrat party days before they went under, I notice it doesn't show up on our list. Or the contributions to Clinton."

It's up there, look again.

[Deb]

Your logic is Claude Rains.

Clinton took bribes, pay-offs and dirty money from everyone. He also sold us out to the Chinese and made his single largest contributor the secretary of treasury.

What crimes has GW committed? What crimes are being claimed? What history of his crimes exists?

After you answer...fall into a tar pit.

[Deb]

Where?

[Uncle Bill]

Can you imagine Ted Kennedy and Hillary Clinton asking these "troubling" questions about "corruption." They could bring in Condit as an eyewitness I guess.

"This reminds me of the plundering of the savings and loans under HW Bush that fattened the Bushes under Silverado and the Democrats like John Glenn and others. No oversight, no regulation just the raiding of people's savings like was done at Enron despite pleas for years to Repubs and Democrats to do something. Pleas that were ignored because too many corrupt savings and loan executives bought the silence of the Repubs and Democrats with campaign contributions (the Keating five)."

Good evening Patrick, my friend, hope all is well!

D.C. BANK SWEPT UP IN INTRIGUE ... [CIA, MAFIA, S&L FRAUD, PROSTITUTION & MURDER]

• MAFIA, EMPRISE, DELAWARE NORTH, DON BOLLES, BRUCE BABBITT, BILL CLINTON...AND JOHN McCAIN?
• INTRODUCTION: The Mafia, CIA and George Bush
• SIGNS POINT TO MOB INVOLVEMENT IN SAVINGS-AND-LOAN MESS
• S&L PROBE HAS POSSIBLE CIA LINKS AUTHORITIES TARGET HOUSTON DEVELOPER
• S&L fraud suspect found dead; Suicide possible in Corson case
• SCOOP DU JOUR
• THE SUSPICIOUS TRAIL OF DENVER S&L FAILURE

Who is Farhad Azima? A Compendium of Articles

Hatch was BCCI's mouthpiece

[Uncle Bill]

This is up there.

Bill Clinton a friend of Ken Lay - received $100,000 from Enron 4 years ago

[wooly_mammoth]

Nope, I remember Deb posting a lot 3 years ago. Mostly defending the CIA against drug smuggling allegations. Your writing is different. You may post with the same screen name but you are not the same person that posted 3 years ago. Sorry.

[Uncle Bill]

T H E   C E N T E R   F O R   R E S P O N S I V E   P O L I T I C S

Enron Total Contributions, 1989-2001*

Back to Alert

Election Cycle	Total Contributions	Soft Money Contributions	Contributions from PACs	Contributions from Individuals	% to Dems	% to Repubs
1990	$163,250	$0	$130,250	$33,000	42%	58%
1992	$281,009	$75,109	$130,550	$75,350	42%	58%
1994	$520,996	$136,292	$189,565	$195,139	42%	58%
1996	$1,141,016	$687,445	$171,671	$281,900	18%	81%
1998	$1,049,942	$691,950	$212,643	$145,349	21%	79%
2000	$2,441,398	$1,671,555	$280,043	$489,800	28%	72%
2002	$172,859	$124,059	$32,000	$16,800	11%	88%
TOTAL	$5,770,470	$3,386,410	$1,146,722	$1,237,338	27%	73%

NOTE: Soft money contributions were not publicly disclosed until the 1991-92 election cycle. 
*Based on FEC data downloaded 11/1/01.

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[Bigun]

Thanks for the Ping my dear!