Rubin Sought Aid for Enron

CBS MarketWatch ^ | Jan. 11, 2002 | Rex Nutting

[arete]

It is looking more and more like Enron exec's simply mismanaged the company and then looted it when they knew the game was about to end.

Richard W.

[mattdono]

That has been my thought right from the "get go". I am sure that Enron has some (if not, a helluva lot of) political interests. But, any company that deals in oil and is worth what Enron is, excuse me was, worth would have those types of interest.

The liberal demoSTUPIDs can beat their drums all they want, but they will come to find that there was probably a lot more political "hank panky" between Enron and the Clinton administration vs. Enron and the Bush administration.

They will try to paint the "BIG OIL" connection, but I think that we are all a little tired of that by now.

Next thing you know, the DNC will be running adds saying that it was actually Bush and "his Enron cronies" that were in the truck that dragged James Byrd to death. Don't laugh, I wouldn't put it past them.

[GraniteStateConservative]

It wasn't Bush and his white redneck, black-people-hating Enron Texan buddies in that pickup truck? You should report this immediately to the NAACP-- they have conflicting information! : )

[arete]

Liberal media will try to smear GW with this as guilt by association but at least on the surface it appears as if there was a bunch of Enron quid passed around for little or no quo. They had influence but got no action. Too bad about the employees. That rests squarely with the management of the company though.

Richard W.

[SlickWillard]

Robert Rubin is a world class thief. When he was treasury secretary, he engineered the rescue of the peso [to the tune of maybe $40 billion] so as to save all of his buddies at Goldman Sachs. By his standards, $3 billion dollars is a petty larceny.

[Cicero]

You took the words out of my mouth. The sole purpose of the Mexican bailout was to save the Christmas bonuses of his old buddies at Goldman Sachs et al. The Mexican people paid a price afterward, but the Wall Street moguls laughed all the way to the bank.

[TommyDale]

The DemocRATS are getting a lesson in ethical government -- something that didn't exist under Clinton. The Bush Administration has handled Enron exactly how they should have -- at arm's length, perhaps friendly, but not giving any Quid Pro Quo. The Demos will find this backfiring on them in the next elections, and return the Republicans to a majority in the Senate.

[arete]

I was happy to see that Rubin was turned down. No doubt that any help to Enron would have been a big mistake especially with all the politicians on their payroll. Now I hear the media asking if it wasn't the administration's "responsibility" to help in order to save the employees. So if you help them or you don't help them, the media will make it look as if a "wrong" were done. I hope that they dig deep enough to nail a few RATS.

Richard W.

[Tacis]

Remember the good old days? If you wanted something from the government, you just deleivered a satchel of cash to someone in the DNC or dropped it off at a coffee clatsch or left it in the Lincoln Bedroom the morning after. You knew there would be no paper trail. Sure, some of the cash handlers, Vince Foster and Ron Brown, died, but that only encouraged the next batch of guys wanting to sell technology to the Chinese, getting stuff for Israel, or buying a pardon. Rubin can be excused for trying to protect his $3B just like he used to.

[Wphile]

Don't forget about the hedge fund, International Capital Group (or something like that) that Clinton bailed out too. Again, for the Goldman Sachs of the world. Oh, but they are all liberals, so it's okay. As I have said on many posts:

Why is it that when a Republican administration is sought out for help and the Republican administration refuses to do so, is it a scandal? Conversely, why is that when a Democratic administration is sought out for help and the Democratic administration provides it, is it not a scandal?

I hate the press.

[fm1]

The fact that a large campaign contributor did not receive special favors is beyond the comprehension of the Democrats.

[testforecho]

indexing

[Oldeconomybuyer]

I noticed a marked change in the Enron media coverage from Thursday to Friday. Initial reports focused almost 100% of their reporting on GW Bush's relationship with Enron. Not surprising since the leftist media is doing its best to continue the Bush - "Big Oil" theme. However, these same leftists were forced to begin reporting on stories like this Rubin/Enron connection because of the shear volume of emerging Clinton/Enron links. Hopefully by the Sunday talking head shows there will be some real analysis and balance.

[arete]

Hopefully by the Sunday talking head shows there will be some real analysis and balance.

I wouldn't count on it. The RATS and their friends in the liberal media are pulling out all the stops trying to get some traction for the next elections. The real blame here goes to Enron management and I hope that they are forced to give back every single dime that they looted from the failing company. I don't care if Ken Lay is a great guy and takes cruises with Rush, he behaved poorly and more like a thief in the night than a responsible person in his position.

Richard W.

[Fury]

I noticed a marked change in the Enron media coverage from Thursday to Friday. Initial reports focused almost 100% of their reporting on GW Bush's relationship with Enron. Not surprising since the leftist media is doing its best to continue the Bush - "Big Oil" theme. However, these same leftists were forced to begin reporting on stories like this Rubin/Enron connection because of the shear volume of emerging Clinton/Enron links. Hopefully by the Sunday talking head shows there will be some real analysis and balance.

Great point. I did a quick check and some of the folks at Dirty Underwear are trying to say that Rubin's calls were not an issue at all. However, some folks are realizing that both Dem and Repubs got political contributions from Enron and more and more of the Enron follies took place several years ago.

I still believe that this has the potential to land with a dull thud if the Dems keep pushing it in the manner they have. I seem to remember reading last night on FR where a Fox poll shows that many Americans believe that the Dems are trying to use the economy as an issue rather than trying to work on the economy. Perhaps the sheeple are on to the Dems, and then again, perhaps not.

[meenie]

To show how manipulated our financial system is, the Rubin story is a good study. Here we have a former Secretary of Treasury that has the intestinal fortitude to attempt to influence the debt ratings of a private rating firm to influence the sale of securities.

The manipulation of markets is not even hidden in the case of the Federal Reserve. The interest rate manipulation is not even considered unusual by most conservatives, but needed in a free market.

What is free about driving down the income of a saver to protect an investor that is leveraged in the market? What is free about boosting the sale of a stock when an investor is trying to buy a particular stock?

What is right about letting a drug dealer walk into a brokerage and invest $100,000 in the stock market, thereby laundering his money, but preventing him putting it in a bank for fear he will be reported? What is free about enabling an investor to wire 1000 shares for sale overseas in a stock market without any reporting requirements, while insisting that any money sent overseas exceeding $5000 be reported on his tax return?

These are questions people should be asking, instead of wondering why our government seems so corrupt. The entire concept of our financial system is manipulated from the gitgo.

The record of our former administration is one of corruption and manipulation. At least this administration has said no on several requests to tilt the playing field.

[visitor]

c-span will be covering Enron Monday Jan 14 thru Jan 18 each day at 8PM and repeated at 11PM ...rto

[r_u_sirius]

Suck on this, repuke, http://www.chron.com/cs/CDA/story.hts/business/1208785

[Mike Darancette]

It may be the case that Enron's closeness to the Bush Administration kept them from getting aid that another company might have been afforded.