BWAC:
Have I been watching the 3-ring circus?
Yooooou BET'CHA! I wouldn't miss it for the world, though I could have done without the first hour being nothing more than Senatorial pontification by damn near everyone sitting on the committee (of which, if memory serves, there're SEVENTY!).
And there'in lies the true nature of this circus. The markets and the public are already in an uproar over everything that's transpired to date (ENE, Anderson, etc.). And now...with the media firmly leading the charge Congress and the Senate have roused themselves off their arses, if only because all the media coverage amounts to massive political coinage tailor made to be minted and distributed for later use. By the way...on an aside...I heard a political commentator make noises about trying to decide who was going to win Bushes internal battle over all of this. You've the pollsters who're saying; "Look, you better come down firmly on the side of the public by making strong noises about jail-time, etc., because if you don't there'll be political hell to pay!" And then there're the business lobbyist types who're saying..."Just let the process work itself out. No need for strong condemnation because its a self-correcting process. And if you do the business and monied community is going to nail you!"
So Bushes speech tomorrow night (?) on all this will provide a clue as to which side won. What'da ya think? ;-)
But I digress. The hearing IS entertaining. Ebbers starts off by shooting himself in the foot, from a methods and process stand point, by first stating he "ain't no crook and did nuthin' wrong" (I paraphrase), and THEN took the 5th!?!? He and/or his council betrayed a gross lack of the way things work with THAT one, as the only comment you're allowed is to take the 5th and then SHUT UP! Jeezus...
And then there's 'ol Grubman. I had to laugh at one of the Senators comments when Grubman stated he didn't have a clue regarding the impact of his analysis (I may have misheard that). To which the Senator said...."You haven't a clue...? Then what'da ya there for....LUNCH?!?"
3 ring circus? Indeed!
Regards!
John~ |
