Sounds like Enron hoodwinked them all. Greenhouse gas emissions trading was just another phantom trading scheme, set up to profit by trading intangibles. In truth, many of their trades traded nothing at all, just booked fat profits. But the truth about that didn't come out until late 2002, I believe, during the investigations in California. And mid-level traders were scape-goated for those schemes. Lay is guilty though, no doubt in my mind.
As the article says, the Heinz Foundation was set up as a homage to her late Husband, the late Republican Senator, and as such, was run primrily by Republicans. Theresa herself was a Republican until six months ago, after Lay departed.
Bottomline, Kerry has nothing to do with the Heinz Foundation. All that Heinz money is Theresa's money and John can't touch it, nor does he help her manage it.
It is, however, a trifle embarrassing. The only question that comes out of this is why Lay was allowed to be on the board for an extra year after proof came out about Enron's illegal schemes? I'm sure there's a rational explanation. Probably sometime to do with long-time loyalties and other Republicans not wanting to kick a colleague when he was down. I'm sure if it had been up to Theresa alone Lay would have been gone in 2002 or even earlier. |
