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Politics : Impeach George W. Bush
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To: jttmab who wrote (8355)12/9/2001 2:23:37 AM
From: Don Hurst  Read Replies (5) of 93284
 
Boy, this Enron "cesspool" just gets bigger and bigger.

The title on this weeks Barrons Striking Price (options) column is " Mr and Mrs Enron..... The company's exclusion from regulation".

Seems that Senator Phil Gramm and Wendy Gramm have some answers to provide about their involvement with Enron and the various exceptions that it received in the Commodity Futures Modernization Act of 2000, a law that drastically reduced the power of government regulatory agencies overseeing the futures markets. Wendy Gramm went on the Enron Board in 1993 and also was on Enron Audit Committee.
Prior to that it was her job to regulate derivatives as Chairman of the Commodities Futures Trading Commission. Erin E. Arvilund, the column writer, asks why, with her background and Board responsibilities, she did not probe the mysterious Enron partnerships. She suggests that both Ms Gramm and the Senator who was Senate Banking Committee Chairman were perhaps too busy pushing exceptions for Enron in the Modernization Act. Apparently there were exclusion(s) in the act called privately by those making the law as the "Enron Exclusion" specifically exempting energy derivatives from regulation. Wendy Gramm did not respond to a request for comment.

This whole thing stinks.

interactive.wsj.com

Regards,

Don
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