The decision by the U.S. Department of Justice to set up a special task force to spearhead a criminal probe of the circumstances surrounding the sudden collapse of Enron Corp. should come to no one's surprise.
After all, this isn't the Reno/Clinton DOJ anymore.
Recall the myriad stunts the Clinton White House would roguishly pull to frustrate, stonewall, impede or choke-off legitimate inquiries into Whitewater, Chinagate, Travelgate, Filegate, impeachment, etc. Indeed, in the Tyson Food case alone, tallying up the number of roadblocks and backroom maneuvers to bottleneck the work of Independent Counsel Donald Smaltz could easily fill the Clinton library -- and then some.
Moreover, the department's decision to plumb the depths of the looting and fraud -- the mammoth shellgame -- which led this erstwhile energy trading colossus, whose stock once traded at $90/share, straight into bankruptcy court last December has wider implications, beyond the prosecutorial.
The Justice Department, by taking this unprecedented step, steals the thunder right from under the partisan Bush-haters on Capitol Hill. U.S. Senators Carl Levin (D-Mich) and Joseph Lieberman (D-Conn) -- the latter mulling a run for the White House in '04 -- had planned to launch a lavish fishing expedition, featuring highfalutin, made-for-TV, dog-n-pony 'show-trial' "hearings", all in the "noble" pursuit of trafficking in innuendo, in the hopes of inflicting maximum damage on the Bush administration.
Senator Levin et al wouldn't want to jeopardize the Enron investigation, or undermine the tedious work of prosecutors while tipping-off potential criminal targets, just to indulge their cheap, political vendetta against this President, now would they? (Wink, wink).
In coordinating the work of prosecutors in cities across the land, and mustering the dept's fraud section to the task, DOJ catapults this probe on the fast track, rendering any shrieks of 'cover-up' wholly vacant and silly.
As in all investigations, expect the unexpected. In the end, ironically enough, the Democrats may rue having foolishly politicized the fall of Enron. DOJ, un-encumbered by petty political considerations, will probe ALL of Enron's nefarious dealings/machinations. Particularly delicious are the links between former TVA (Tennessee Valley Authority) director Johnny Hayes, Charles Bone of Wyatt, Tarrant & Combs, a Nashville law firm and one former U.S. vice-president who's sporting a beard these days. Gore pals Hayes and Combs, according to a recent MSNBC report, were paid lucrative sums last year by -- you guessed it -- Enron Corp. for lobbying purposes.
But that's not all. According to the Tribune-Review, Enron and the Clinton-Gore administration were joined at the hip, profiting mutually from their incestuous relationship. Bill Clinton personally opened up many overseas markets for Enron especially, and Enron, in return, introduced Clinton-Gore to the infamous Lippo Industries and John Huang. But there's more -- much more, all of which will now come under the proverbial kleig lights.
And they say character doesn't count, eh?
My two cents..
"JohnHuang2"
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Democrats, who still bear the scars from the Clinton scandal machine, believe they've (finally) hit pay-dirt with the Enron debacle.And so does the media.
The 'Grey Lady' of yellow journalism, predictably, was on the warpath yesterday. In a piece ominously titled, "White House Moves to Contain Political Damage From Enron Turmoil", "reporter" Jack Lynch wrote in his opening paragraph that Enron chief Kenneth Lay "had contacted two Cabinet members a few weeks before the giant energy company's collapse to warn of it's growing difficulties".
Clearly, the writer's implicit aim was not to inform so much as to cast aspersions on the Bush administration with derogatory innuendo and smear. The reader is beckoned to assume the worst -- ergo, some malfeasance had taken place -- sans a smidgen of evidence. By artfully lifting these calls wholly out of context, Mr. Lynch ipso facto maliciously insinuates guilt -- guilt on Bush's part, as much as the two Cabinet officers Mr. Lay contacted.
Indeed, only well into his article (paragraph 7) does Mr. Lynch, after weaving his mudslinging web of innuendo, finally divulge the actual mission behind these calls, one to Treasury Secretary Paul O'Neill, the other to Commerce Secretary Don Evans. Both calls were reportedly made last October, prior to Enron's spectacular collapse in early December.
The reason for Lynch's beguiling foot-dragging? Simply this: Far from snarling Bush administration officials in wrongdoing, the calls were inherently exculpatory. Yes, you heard right -- exculpatory. After warning Secretaries O'Neill and Evans of Enron's precarious financial position, Mr. Lay beseeched them for a bailout. Absent massive government assistance, the troubled company would slide into bankruptcy, the officials were told. Their answer, according to White House spokesman Ari Fleischer, was flat-out no. No bailout.
Agree or disagree with the decision, the refusal is inconsistent with the notion of Mr. Lay having undue influence over this administration. In fact, the bailout denial is the opposite of what one would expect if campaign money and friendship were what they are cracked up to be.
Imagine the outcry had the bailout request been granted. The raging firestorm among frothing Bush critics would rival Nixon's Watergate.
"Quid-Pro-Quo! Quid-Pro-Quo!", they would shriek. As far as punishment, the haters would be divided, however: Some would demand impeachment, others a public hanging.
Instead, the erstwhile oil trading colossus, with 20,000 employees, and marketing business in everything from pulp to bandwidth, was allowed to go belly-up. It's high-flying stock tumbled from $90 per share to under a dollar today.
So much for the 'Ken Lay-controls-George W. Bush' urban legend.
Moreover, the Justice department's decision to convene a national task force to probe Enron's demise -- an unprecedented maneuver -- only further debunks the nitpickers' swill. But the department went even further yesterday. To avoid even the appearance of 'conflict-of-interests', Attorney General John Ashcroft (who had received Enron contributions during his Senate campaign) announced his recusal from all matters pertaining to the Enron investigation. The recusal includes his chief-of-staff, David Ayers.
To get even further ahead of the curve, President Bush yesterday directed the Treasury, Labor and Commerce departments to comb the plethora of rules governing 401 (k) and other pension plans with a fine tooth comb. His goal is to ferret out the flaws in a system which allowed Enron employees to lose their life's saving when the company went under.
The President wants reform in corporate disclosure rules, as well. To this end, he's ordered the formation of a 'working group', consisting of Sec. O'Neill, the Federal Reserve, the S.E.C. among other agencies.
Bottom line? The President has grabbed this bull by the horns and, for all the prattle about political "damage", he's handled this teapot-sized tempest with aplomb, to the chargin of all of the Bush-haters and bashers.
Another thing: If the vengeful Democrats, gung-ho on exacting revenge over Clinton's impeachment, see Enron as Bush's Waterloo, they're in for a crushing disappointment.
Their Enron obsession is understandable, of course: Bush's rock-solid popularity is holding steady, even as their party wallows in disarray and dysfunction. On the other hand, one thing does unite the beltway Democrats like nothing eles: Hate. Their shared hatred of Bush. It's ugly, it's spiteful, it's vile. And it's unseemly. For Bush-haters, it's not enough to disagree with the President: Policy differences must be criminalized.
This is the root of their Enron fixation. But unfortunately for them, Enron won't save them either. Their fanatical putsch will not only fail, it will backfire. The reason is simple: This President has forged a powerful bond with the people, especially in the wake of September 11. There's a chemistry there, one which Democrats, blinded in their hatred, have yet to fathom. This rapport, this wonderful chemistry, this mighty solidarity transcends race, ethnicity, party, religion, gender; Americans of all walks of life see in this humble man, this down-to-earth, straight-talker from Midland someone whom they can trust, someone they can believe in again. His persona embodies the optimism, the idealism, the cheerful self-assurance and confidence which makes us Americans.
America can not -- and will not ever -- say die.
So let the Democrats flail away in their smoldering anger; let them scour, let them probe, let them hound, let them stalk, let them rummage, let them shake their fists at this President: They will only hoist themselves on their own petard.
For America loves George W. Bush -- and nothing's going to change that.
God bless our President, God bless our troops and God bless the United States of America!
My two cents..
"JohnHuang2"
Yes, the media is just drooling over this Enron mess. They are calling it a "quagmire" for the Bush administration already. The last "quagmire" they referred to was the early going in Afghanistan in our War on Terrorism - and we all see how that has worked out: burqas disgarded, beards shaved, radios and TVs pulled out of the basements and played again, kites being flown, etc., etc., etc. . . .
Yeah, they (the DIMocRATS chomping at the bit and the Media) are going to be sorely disappointed when they see this well is dry too! :o)
Democrats are Bush Hatersnth.