Enron is a large energy trading corporation based in Texas. It recently and suddenly went bankrupt, losing billions of dollars. I don't understand the details of accounting, but their accouting firm Arthur Anderson basically cooked the books and didn't realize the company was going under until it was too late.
What this has to do with Bush/Republicans:
Phil Gramm's Wife is (was) on the Board or Directors at Enron.
Being a Texas based company, Enron had a lot of contact with George Bush Jr. (and Sr.), and Dick Cheney. They are all in the oil (energy) business.
(My opinion)...
It is very probable that people at Enron and Anderson commited crimes and should be investigated. It is also possible that Bush or Cheney are somehow involved and they should come clean right away, which I think they are doing.