RUBIN SMOKING GUN

WASHINGTON - Congressman Mark Foley (FL-16), one of the first Members of Congress to call for the testimonies of former Clinton Treasury Secretary Robert Rubin and Senator John Corzine for their companies’ involvement in the Enron scandal, today wrote the Big Three television network anchors asking them to cover the Rubin-Enron story on their broadcasts. The letter to Tom Brokaw of NBC, Peter Jennings of ABC and Dan Rather of CBS is as follows:

As you know, over the last few weeks, print and broadcast news has been peppered with reports on corrupt CEOs and talk of corporate accountability legislation on Capitol Hill. As President Bush and our Congressional Leaders promised, the strong action Americans demanded has come to fruition.

While I am not writing to complain about your coverage of the scandals or the legislation, I am calling upon you to cover what could be the real smoking gun in the Enron scandal - former Clinton Secretary of the Treasury Robert Rubin.

Numerous media reports directly implicate Mr. Rubin in this scandal. Here’s how John Fund of the Wall Street Journal put it: “Citigroup, which he [Rubin] has headed since 1999, played a central role in concealing Enron's growing debts from investors and regulators. Last November Mr. Rubin phoned Peter Fisher, a Treasury undersecretary, and asked him to intervene with credit-rating agencies that were about to downgrade Enron's status. John Diaz, a managing director of Moody's Investors Service, says Mr. Rubin also contacted him about getting a higher credit rating for Enron. Both men rebuffed Mr. Rubin's requests, which struck them as highly unusual.”

Since this has come to light, I have been calling on Senator Joe Lieberman, chairman of the Senate Governmental Affairs Committee, and Senator Carl Levin, chairman of the subcommittee probing Enron's internal practices, to subpoena Mr. Rubin and hear his testimony.

Additionally, when you consider the fact that Citigroup has, over the last five years, been one of Mr. Lieberman’s top campaign contributors and has also dipped into its coffers for Mr. Levin, this story takes on an even more troubling dimension.

Gentlemen, I’m assuming you simply haven’t found the time to cover this story. However, now that the Fox News Channel, CNN, USA TODAY, The Associated Press, The Washington Times and many others have begun their coverage of this story, I would hope you will find a few minutes to devote to this before the Senate breaks for its August recess next week.

I found a (Rubin-Goldman-Sacs)-(ADFA-clinton) connection. It's a long read. I'm posting the first part with a link to continue.

GRAY MONEY

Activists seeking documentation that would support claims that the state of Arkansas was involved with money laundering on a massive scale may have found the missing link in their three year search. Documents obtained by the Arkansas Committee show that the Arkansas Development and Finance Authority, a Bill Clinton signature project, was involved in a highly questionable, and possibly illegal, sixty-million dollar deal in which ADFA borrowed 5 million dollars from a Japanese bank in order to buy stock in a Barbados insurance company. The stock was not registered with the Securities and Exchange Commission. The state of Arkansas was the lead investor in a deal which poured sixty million dollars through a Barbados company, Coral Reinsurance, which is currently under investigation by insurance regulators in New York, Pennsylvania, and Delaware as well as by Manhattan District Attorney Robert Morgenthau, lead prosecutor in the BCCI scandal.

Additionally,the Ozark Gazette has recently been told that as a result of the release of the Coral documents the independent counsel, Kenneth Starr, is also investigating the deal. Persons involved in the deal, which began in 1987 and ended in 1991, include Bob Nash, then president of ADFA and now Personnel Director of the White House, Robert Rubin, then president of Goldman Sach's investment bank and now Secretary of the Treasury, and Maurice Greenburg, president of American International Group, and a candidate in 1995 to be Director of Central Intelligence.

The American International Group is a 100-billion dollar, multi-national insurance company which founded Coral Reinsurance Company in 1987. The fact that AIG founded Coral was hidden from insurance regulators for at least 3 years and was only recently proven by the reluctant release by ADFA of the original stock placement memorandum. Maurice Greenburg as president of AIG is a very well connected businessman and a player in international politics. He serves as the chairman of the US-China Business Council and lobbied hard (and successfully) for the Clinton administration to sever the link between China's human rights record and renewal of China's most-favored-nation trade status. Members of the board of directors of AIG include Martin Feldstein, Harvard University economics professor and former chairman of the President's Council of Economic Advisors and Carla Hills, former U.S. trade representative. AIG's international advisory board is headed by Henry A. Kissinger.

The original deal was pitched to ADFA by Goldman-Sachs, a New York based securities firm which played an important role in the transaction. Goldman-Sachs had pledged to sell the stock for Coral and in addition pledged to buy the stock if for any reason the other investors could not hold it and were forced to sell. Goldman's president at the time was Robert Rubin, later appointed by the Clinton administration to succeed Lloyd Bentsen as the Secretary of the Treasury.

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