-Caveat Lector- "You not only let Kenny Boy decide who would head the regulatory agency that oversaw Enron, you let him hand-pick the new chairman of the Securities and Exchange Commission, Harvey Pitt -- a former lawyer for his accountant, Arthur Andersen! Kenny and the boys at Andersen also worked to make sure that accounting firms would be exempt from numerous regulations and would not be held liable for any "funny bookkeeping" ....Kenny Boy has been your number one financial backer since you ran for governor. No other American or Saudi has given you more money than Kenny Boy and his gang at Enron."
"At least three top White House advisers involved in drafting President Bush's energy strategy held stock in the Enron Corporation or earned fees from the large Texas-based energy trading company, which lobbied aggressively to shape the administration's approach to energy issues." "An estimated 3,000 partnerships, some with names of "Star Wars" characters such as Jedi, were created by Enron -- which took a 97 percent stake in each of them and brought in outside investors for the remainder. The partnerships were kept off Enron's books and helped create the accounting debacle that pushed the company into the biggest U.S. corporate bankruptcy ever on Dec. 2." http://www.michaelmoore.com/2002_0129.html 01/29/2002 "George W. in the Garden of Gethsemane" An Open Letter to George W. Bush from Michael Moore You needed a way to fly around to all the primaries and campaign stops in the 2000 election -- so Kenny gave you his corporate jet. Did you tell the voters when you arrived in each city that the bird you flew in on was from a billionaire who was secretly conspiring to give the bird to all his employees and investors? He flew you around America on the Enron company jet, and for that favor you touched down on tarmac after tarmac to tell your fellow citizens that you were "going to restore dignity to the White House, the people's house." You said this standing in front of an Enron jet! Man, you loved Lay so much, you not only affectionately referred to him as "Kenny Boy," you interrupted an important campaign trip in April, 2000, to fly back to Houston for the Astros opening day at the new Enron Field -- just so you could watch Kenny Boy Lay throw out the first pitch.....when you were awarded a set of keys the Supreme Court had made for you so you could live in the White House, you invited Kenny Boy to set up shop -- at 1600 Pennsylvania Avenue! He interviewed those who would hold high-level Energy Department positions in your administration. You not only let Kenny Boy decide who would head the regulatory agency that oversaw Enron, you let him hand-pick the new chairman of the Securities and Exchange Commission, Harvey Pitt -- a former lawyer for his accountant, Arthur Andersen! Kenny and the boys at Andersen also worked to make sure that accounting firms would be exempt from numerous regulations and would not be held liable for any "funny bookkeeping" (don't you wish you were this forward-thinking?).....Kenny Boy has been your number one financial backer since you ran for governor. No other American or Saudi has given you more money than Kenny Boy and his gang at Enron. O'Neill, Evans, Cheney, Energy Secretary Spencer Abraham -- ALL of them gave Lay and Enron special favors from day one. The New York Times last May was so concerned about how Kenny had the run of the place (1600 Pennsylvania Ave.), they referred to Lay as the "shadow advisor to the president." http://www.nytimes.com/2001/06/03/politics/03DISC.html June 3, 2001 - Bush Advisers on Energy Report Ties to Industry - By JOSEPH KAHN WASHINGTON, June 2 — At least three top White House advisers involved in drafting President Bush's energy strategy held stock in the Enron Corporation or earned fees from the large Texas-based energy trading company, which lobbied aggressively to shape the administration's approach to energy issues. Karl Rove, Mr. Bush's chief political strategist; Lawrence B. Lindsey, the top economic coordinator; and I. Lewis Libby, Vice President Dick Cheney's chief of staff, all said in financial disclosure statement released on Friday that they already had or intended to divest themselves of holdings in Enron, the nation's leading trader and marketer of electricity and natural gas, as well as holdings in other energy companies. Mr. Lindsey received $50,000 last year from Enron for consulting. Mr. Rove's statement said he intended to sell stock holdings in Enron valued at $100,000 to $250,000, though the statement does not make clear if he has completed the sale. Mr. Libby sold his stake in the company. http://www.truthout.com/02.01A.Sen.Enron.No.htm January 31, 2002 Senator Says Enron Not Cooperating With Investigation By THE ASSOCIATED PRESS Filed at 3:43 p.m. ET WASHINGTON (AP) -- Enron Corp. has failed to provide a Senate committee with important information about a web of partnerships used to conceal massive debts, a senator leading an investigation said Thursday. Enron officials "just simply have not cooperated" in providing the documents sought, said Byron Dorgan, D-N.D., chairman of a Senate Commerce subcommittee. "We again renew our request." An estimated 3,000 partnerships, some with names of "Star Wars" characters such as Jedi, were created by Enron -- which took a 97 percent stake in each of them and brought in outside investors for the remainder. The partnerships were kept off Enron's books and helped create the accounting debacle that pushed the company into the biggest U.S. corporate bankruptcy ever on Dec. 2. http://www.ireland.com/newspaper/world/2002/0201/455622448FR01WAKEHAM. html UK press watchdog quits over Enron - By Rachel Donnelly - BRITAIN: The multi-million dollar collapse of US energy company, Enron,claimed a high-profile British casualty yesterday when Lord Wakeham temporarily stepped down as chairman of the Press Complaints Commission (PCC). Although Lord Wakeham, a non-executive director at Enron for eight years, described his decision as a "matter of honour" while a US Congressional committee investigated the company's spectacular demise, pressure had been mounting within political and trades union circles for him to leave the PCC. After a stint as energy secretary under the Tories, Lord Wakeham went on to join Enron's board of directors - with a reported annual salary of £80,000 - and sat on its six-member audit and compliance committee. The committee operated as a watchdog over Enron's accountants and was charged with protecting the interests of shareholders before the company went bankrupt last December with debts of £55 billion, prompting one US union to declare that Lord Wakeham was "not fit to be a steward of investors' money". http://www.harvardwatch.org/ TRADING TRUTH: A REPORT ON HARVARD'S ENRON ENTANGLEMENTS (Summary and Recommendations) A HARVARDWATCH REPORT January 31, 2002 SUMMARY OF FINDINGS QUESTIONABLE FINANCIAL TRANSACTIONS AND INTERLOCKING DIRECTORATES Herbert "Pug" Winokur is a member of the Harvard Corporation, the university's seven-member self-selecting governing body, and a longtime member of the Board of Directors at Enron Corporation. He is currently the chair of the board's Finance Committee. In this capacity Winokur reportedly approved the creation of more than 3,000 partnerships and subsidiaries which were allegedly used by Enron to hide debt and avoid taxation. Winokur's position on the board's Finance Committee gave him unique access to Enron's financial structure and should have alerted him to the company's imminent collapse. During the period in which Enron executives touted the company's stock to employees, Harvard's main private investment fund — Highfields Capital —short-sold several million shares of Enron stock for an estimated profit of $50 million. Mr. Winokur's leadership positions at Enron and Harvard raise questions regarding Highfields' massive short-selling transactions, which benefited the Harvard endowment. There has been insufficient investigation into the possibility that Highfields operated with inside information when it short-sold millions of Enron shares. <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! 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