Word: enronize
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...race for the seat being vacated by Jesse Helms may not be as easy as it once seemed. Democrats have put up TV ads blasting her for a Ken Lay-hosted fund raiser just nine days after Sept. 11. (Her campaign has since donated $5,000 received from Enron's ex-CEO and his relatives to a fund for employees of the bankrupt energy giant.) Some scoffed at Dole's declaring her mother's Salisbury home as her residence, when she's a fixture at the Watergate in Washington, where she and Bob have an apartment. And though her campaign...
...Enron watchers who feared things might be getting stale, last week brought fresh material for outrage. Although whistle blower Sherron Watkins testified in Congress that she believed former CEO Kenneth Lay was "duped" by underlings about accounting abuses, a trove of newly released exchanges shows just how chummy Lay was with George W. Bush in his days as Texas Governor. In one note Bush teases Lay about getting older; in another Lay scribbles that he's "so proud" of the Governor and his wife. Beyond the niceties, Lay repeatedly seeks Bush's support for legislation that would benefit Enron...
Separately, Enron disclosed that Lay sold $100 million in its stock last year (about $70 million more than he earlier reported), $20 million of it after Watkins warned him of the company's precarious situation, according to the New York Times. It was also revealed that for several weeks before Enron's Dec. 2 bankruptcy filing, 20 to 30 senior officers were allowed to withdraw millions of dollars from "deferred-compensation accounts" even as retirees and former execs also owed money were refused the same right until it was too late. Other documents emerged that show how aggressively Enron used...
Well, if Henry Waxman and the GAO really want to know what came out of Dick Cheney and Ken Lay's energy-policy deliberations last spring, here it comes. The Bush energy bill, which passed smoothly through the House of Representatives back when Enron was nothing to be ashamed of, is now ready for its close-up before Tom Daschle's altogether more hostile Senate...
...there's Enron, playing a dual coming-and-going-role for the president's critics: When Ken Lay was up, he had undue influence over policy; now that he's down, well, that's why you don't have those people in for secret energy-policy deliberations in the first place...