Sen. Gramm's wife gets Enron subpoena

UPI ^ | Published 1/12/2002 8:20 AM | By Mark Benjamin and Nicholas M. Horrock

[Praxeologue]

"worth with" = "work with"

This, I believe, was a deliberate spelling error to cover a prominent Democrat, Rubin.

[boomop1]

As Waxman would say about clintoon "SO WHAT".

[Red Jones]

we see that Senator Gramm had a reason for resigning a few weeks ago. His wife is less of a target for prosecution when he is not in politics.

The federal government sued 20,000 people who merely sat on the Board of Directors of S&L's that went bankrupt over 10 years ago. One fellow was in a coma on the day that a decision was made that he was later sued for after he came out of the coma. Why should Phil Gramm's wife be spared.

It was papa Bush in charge when they decided to sue those 20,000 people. No Republican should be spared here. The government should prosecute regardless of the circumstances because that is the standard used against all who sat on the Boards for the S&L's of yesteryear.

[Dog]

Any idea who else got a subpoena??

Rubin???

Clinton...Hill and Bill???

[Bad~Rodeo]

Mark my words, the DEMS are opening up a proverbial Can-o-Worms. Hope they like gravy with 'em. L~

[jf55510]

It was papa Bush in charge when they decided to sue those 20,000 people. No Republican should be spared here. The government should prosecute regardless of the circumstances because that is the standard used against all who sat on the Boards for the S&L's of yesteryear.

So even if she had nothing to do with this and had no knowledge of what was going on she should be prosecuted? I don't think so. Bush has already asked for a full inquiry and no one will be spared. But to say just because they were on the board they should be sued is ludicros. We all know that W. Bush is different from his father so just because Bush(41) did something that does not mean W. Bush will do it.

[Dog]

It has started..

[VRWC_minion]

Citigroup is largest unsecured creditor of Enron and stands to loose 3 billion dollars. How come no one is tracing Citigroups contributions and asking why ?

[TLBSHOW]

this will be the best shot to bring Clinton to justice. If the rats go thru with this smear scam which is designed to smear the republicans ALL during this election year.

cLINTON BROUGHT DOWN THIS WAY AND WHLIE TRYING TO BRING DOWN BUSH AND IT BACKFIRES

[ArneFufkin]

No Republican should be spared here

I agree. This is nothing though. This stock issue didn't undergo a one day plunge until it went from $8 to $1 in November ... it fell steadily all summer. It went from $60 in June down to $8 in November. Hey ... that happens sometimes in the market. If the big deal is management selling off their stock at $8/share before the last drop ... there might be a problem there, but the execs were way underwater on their options anyway. There were no big profits there as some intimate.

This could be a securities fraud case, but the Bush Administration declined to help Enron so there is no scandal at least at this point.

[Libertina]

The article doesn't seem to mention all the dems who also received money, but it will all come out. Regarding some current pols who divested of all stock before taking ofice, I believe they did so due to "ethics." Otherwise they are accused of having "ties to big______ (fill in the blank.) If Arthur Anderson is involved in this, (and it seems they were since staff destroyed documents) I think it is likely that the bad financials were a tightly controlled secret.

HOWEVER, anyone, that includes Rs, who was involved in the bilking of the Enron shareholders should be tried. This is the kind of bs that gives "business" such a bad name and is so harmful. I agree with others that say this is a can of worms; with very long reaches. For both parties.

I don't see anything to tie to the White House though, and I'm glad there will be investigations.

[Red Jones]

no friend, I don't agree with you. Ten years ago when Republicans were in power they developed certain standards. Those standards were that every single member of a Board of Directors for any S&L that went bankrupt had to be sued by the federal government. The government paid lawyers $150/hour to find people to sue in an open-ended fashion. The more lawsuits they could bring the more the lawyers would get paid. This is what George Bush did to our country. As I said one man in Florida was in the hospital in a coma, he came out of the coma and found he was being sued for something he allegedly did while he was in the coma. Twenty thousand americans were sued in this scheme by the Republicans.

Now a prominent Republican's wife has been caught in the same circumstance. She sat on the board of a company that folded after allegedly irresponsible things were done. Fairness dictates that the Republicans apply the same standards that they've applied in the past. The idiot George Bush senior applied these ridiculous standards so that his rich liberal friends would like him. It was very unjust, but what does justice matter? That is not the standard we use as a society in these types of situations. Wendy Gramm should be publicly insulted, humiliated and prosecuted. Phil Gramm should be forced to sacrifice his assets on a legal defense. It doesn't matter if she's guilty or not.

[VA Advogado]

Where is Klayman when you need him?

[Howlin]

Indexing.

[Dane]

Do you have a source for your allegations other than Mother Jones magazine?

[bayourod]

Wendy Gramm is one of the kindest, most intelligent women you could ever meet. I find it difficult to believe that she was aware of any illegal activities.

[Howlin]

I agree with you. Regardless of who it is, they should be TRIED and JAILED. No fines. Jail time. This has got to stop.

And then maybe we can educate employees about what to do when their company stock drops through the floor.

[Red Jones]

The scandal here is Wendy Gramm sat on their board of directors while irresponsible decisions were made that cost many people severely, not that Bush aided Enron in any way. Ten years ago there were 20,000 Americans in a similar situation and they were prosecuted by President Bush. These people merely sat on the boards of S&L's that went bankrupt. In Arizona 100% of the S&L's went bankrupt and 100% of the Board members were sued by president Bush. President Bush took money from the taxpayers at $150/hour to pay lawyers who got paid more the more they sued, then all of those private citizens had to hire expensive lawyers to defend themselves from what was basically frivilous and ridiculous charges.

The same standards applied then by the Republicans should be applied today to a prominent republican's wife, meaning that they should sue Wendy Gramm with federal taxpayer money forcing her family to dig into its pockets merely for the sake of punishing her.

[Rowdee]

..."Gramm's spokesman, Larry Neal, declined comment on the subpoenas, but said Enron had nothing to do with Gramm's decision not to seek another term"....

Why does this have such a hollow ring? Too bad, Phil....

I doubt much will be made or said abouat Rubin's part....last I heard was his name being put forth as the next head of the Fed.