Even more about ENRON:
--In the past 10 years, it provided a mere 4.95 million to federal candidate campaigns. Arthur Anderson provided 2.9 million in that period.
--In the past 5 years, guess how much they paid in taxes. By issuing so many stock options, most near worthless now, they qualified for $382 million in tax REFUNDS.
--the tax-cut bill passed by the House a few months ago, would have given them a $254 million refund. It may still get that.
--Pretty good trade-off on those tiny contributions, eh?
There's no doubt campaign finance reforms are needed. But the tax breaks, in effect, are corporate welfare for one of the largest companies in the world, a company that apparently would eat its own young, as it proved when it locked down the retirement stocks of its own employees.
Along the way, it damaged California ratepayers and other Left Coast states may get nailed as well.
And moments ago, Enron's VP committed suicide.
There is even bigger money behind this than is yet known; JP Morgan Chase & Co is just one.
This is what happens when lawyers overpopulate. Remember this come April 15 when you can rest easy, knowing that Ken Lay & Company will have enough food stamps to get by. |
