[Dog Gone]

Amen. ALL congressional hearings are a joke.

[blackdog]

But Carville and Schrumm need to have something to do. James Carville without a game piece would cause him to go stuttering mad, his hair would fall out, his eyes would get all squinty, and the snakes who reside in his head would pack up and slither out. Well....Come to think of it, that is what he looks like now! Never mind.

[SmartBlonde]

As you would expect, right on target from Mr. Levin. The following paragraph should be repeated - and repeated - until the clueless public gets the point.

'Moreover, and unlike the systemic mismanagement and malfeasance that pervade the federal government, Enron's dealings are in no way typical of corporate America. The overwhelming majority of businesses are law-abiding and ethical. They care about their employees, they manage their finances ? including pension funds ? responsibly, they make public a true accounting of their financial health, and they contribute mightily to the nation's unparalleled economic prosperity.'

Perhaps we should send a copy of this to Bobby Byrd.

[CedarDave]

I listened to Jay Leno's monolog last night -- lots of Enron and Enron/Congress jokes; not a mention of Bush or Cheney. He just made fun of the crooks in Congress investigating the crooks at Enron. The NR story comparison of the number of jobs lost at Enron to those from layoffs at a manufacturer like Ford puts the story in focus. It's a good point that needs more emphasis.

[Quicksilver]

bttt!

[Semper Paratus]

It occurred to me that something else is afoot.
The only negative news on the economy that is depressing the equity markets
is the perception of dubious accounting practices ala Entron/Arthur Anderson being widespread.
These hearings serve the democraps purpose to keep a recovery still born until after the congressional elections.

[Snake65]

Levin is correct to point out that if anyone else were managing Social Security, they'd be indicted for running a Ponzi scheme.

[Wright is right!]

"Some hope to damage the Bush administration by creating a web of suspicion involving meetings, past associations, and campaign contributions."

Not SOME - MOST. And --- it's not working. Another 3-4 weeks of Dubya's 85% approval ratings, and you'll see the Enron hearings fade away without a trace - or a mention. All of a sudden "Enron" will simply not be there.

F. Lee Levin is right about why Enron isn't sticking, but let's be a little more direct. Enron is labyrythian, hard to follow for most people. There is no sex involved. No one's gotten killed. There is no intrigue. In fact, Enron is a dull scandal. It may be the "biggest bankruptcy in US history," but it's also the dullest. Not one flashy player, no ring of sexual slavery, and - despite the media's attempt to put "an average ordinary American face on it" - Enron just doesn't hit home.

Plus, there's the backlash. Any time the media try to link Dubya with Enron, the 85% who approve of him rebel. It's like some outsider criticizing a family member. Bush's approval rating is too high for the media's smear gambit to work...and people resent it.

Bottom line - a dull scandal that affects very few people and an attempt to link it to an overwhelmingly-popular President is just not what works in the media. The problem is that the media is still not convinced that it won't work. Another 3 weeks and they'll be convinced.

Michael

[plain talk]

Great article. Echos what I've said since the beginning. This Enron deal is much ado about nothing when compared to the other misery in this world these politicians should be focusing on. And as far as employees not being able to redirect funds from their 401K during a 11 day period in Nov as being a big deal - a picture is worth a million words: enron stock curve Just what were these employees doing for 3 months from Aug-Oct (before the freeze) when their stock plummetted from $44/share to $12/share?

[GallopingGhost]

Great article and good responses. Just how in the world to 12 committees investigate anything? What a tremendous waste of time and effort when the SEC should be the only ones that really care.

[GallopingGhost]

Great article and good responses. Just how in the world to 12 committees investigate anything? What a tremendous waste of time and effort when the SEC should be the only ones that really care.

[Mo1]

Of course, the irony of congressional handwringers denouncing Enron executives for screwing the little people is not lost on most conservatives. These are many of the same politicians who continue to perpetuate the myth that Social Security benefits are actually paid out of a trust fund when, in fact, they long ago misappropriated those retirement funds to support unrelated federal programs. This is the biggest financial scam in the history of man, involving hundreds of billions of dollars and tens of millions of largely unwitting taxpayers and pensioners. While Congress heaps praise on whistleblowers inside Enron, who purportedly sought to alert top management of the company's coming financial collapse, those who dare to question the practices and solvency of the Social Security program are denounced roundly and hysterically.

Bravo ... Bravo .... Great article .. Straight and to the point!!

[Piquaboy]

All these hearings are is a bunch of crooks investigating another bunch of crooks.