Larry must have left this part out:
``As Enron's negotiations with its bankers for an extension of credit neared a decision point, the president of Enron asked Undersecretary Fisher to call the banks,'' Davis said.
Fisher ``inferred he was being asked to encourage the banks to extend credit. He made no such calls,'' she said.
And, emphasizing that it wasn't only Bush administration officials who were close to Enron, the Treasury Department disclosed Friday evening that former Treasury Secretary Robert Rubin, a Democrat, had also sought Fisher's intervention on behalf of Enron.
Rubin, now chairman of the executive committee of financial giant Citigroup, called Fisher on Nov. 8, at a time that rating agencies were poised to downgrade their opinions on the financial status of Enron.
``Rubin asked Fisher what he thought of the idea of Fisher placing a call to rating agencies to encourage them to work with Enron's bankers to see if there was an alternative to an immediate downgrade,'' said Davis.
``Fisher responded that he didn't think it advisable to make such a call,'' said the Treasury spokeswoman. Rubin said he thought that was a reasonable position. Fisher made no such call.''
A Rubin spokesman, Michael Schlein, confirmed Treasury's characterization of the conversation with Fisher as ``largely accurate.'' Schlein added that Rubin ``had prefaced the call by saying, `This may not be the best idea,' and in the end agreed with Fisher that it wasn't a good idea.''
Citigroup Inc., the nation's largest bank, is among a group of banks that lent hundreds of millions of dollars to Enron, hoping to keep it going so earlier loans would be repaid. Citigroup was said to be owed about $800 million.
Citigroup is a HUGE benefactor to one Joseph Lieberman.