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Politics : Impeach George W. Bush
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To: donjuan_demarco who started this subject4/8/2002 11:24:55 AM
From: Tadsamillionaire  Read Replies (1) of 93284
 
Enron saw the potential to work with Mr. Clinton from the day he was elected, noting in a November 1992 company newsletter that Mr. Clinton's energy and environmental policies would aggressively expand the use of natural gas because it emits only half as much carbon as coal. The newsletter also notes that Al Gore, Mr. Clinton's vice president, was one of the strongest proponents of a global-warming treaty.
By the end of the decade, Enron built on its success by winning Mr. Clinton's approval for its proposal on energy services trade. Enron had evolved from a producer of physical infrastructure like pipelines and power plants into the leading international energy trader, earning most of its money buying and selling intangible financial assets.
Enron got considerable help along the way from Clinton Treasury Secretary Lawrence H. Summers and other top officials by winning regulatory exemptions for its domestic activities.
It hoped to amplify those gains by pushing for the same kind of deregulated markets overseas.
Mr. Lay made a pitch for Enron's vision of a deregulated, global energy market to delegates at the ill-fated world trade talks in Seattle in December 1999. But although those negotiations fell apart amid anti-globalization street protests, Enron's dream of beginning a round of trade talks on energy services survived when talks resumed the next spring.
While Enron's lobbying achievements at times were sublime, the company was no shirker of details when money was involved. It sought — and received — help from the Treasury Department to gain more favorable tax treatment of its overseas energy projects. Enron complained that its efforts to expand overseas were being undermined by obscure provisions of U.S. tax law, and it lobbied both the Clinton and Bush administrations to remove the impediments.
Enron didn't shy away from inserting itself into even the most arcane matters that stood in the way of business.
Documents show that company lawyers provided the Clinton Treasury Department with line-by-line legislative language to be included in the bankruptcy-reform bill to ensure the quick settlement of energy derivative contracts in the event of bankruptcy.
Ironically, the bankruptcy provision never became law, and Enron was unable to take advantage of the procedures when it filed for Chapter 11 bankruptcy protection Dec. 2.

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washtimes.com
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