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Non-Tech : The Enron Scandal - Unmoderated -- Ignore unavailable to you. Want to Upgrade?

To: JBTFD who wrote (1094)	2/2/2002 12:17:50 PM
From: c.horn	Read Replies (1) \| Respond to of 3602

Trading favors? How so?

To: JBTFD who wrote (1094)	2/4/2002 10:49:43 AM
From: Zoltan!	Read Replies (1) \| Respond to of 3602

Clinton was supported only by crooks - and Clinton delivered. Nation & World 1/28/02 BY MICHAEL BARONE Leaving well enough alone Washington has been all atwitter about the possibility that the Enron collapse will cause a political scandal for the Bush administration. We are reminded over and over that Enron generated more political contributions for George W. Bush than any other company, and the subtext of many of the news stories is that the Bush administration must have done Enron some favors in return. But there is no evidence that it did. By trying to fit Enron into the familiar scandal template, the media are missing larger, more important lessons. There is no dispute that Enron officials contacted Treasury Secretary Paul O'Neill, Treasury Under Secretary Paul Fisher, and Commerce Secretary Donald Evans seeking help as Enron stock plunged. Former Clinton Treasury Secretary Robert Rubin, now a top executive of Citigroup, which loaned Enron $800 million, asked Fisher whether he should call the bond-rating companies to question their downgrade of Enron's credit. The response in each case was the same: No. Nor did Enron get what it wanted in public policy. The biggest change Enron sought–limits on carbon emissions, so that it could make money running emissions-trading markets–was firmly opposed by the administration. Editorial writers are already busy clucking that the Enron case shows the need for campaign finance reform. It shows just the opposite: With this administration, at least, campaign contributions bought nothing–not even access: O'Neill, Fisher, and Evans would have taken the calls of top officials of the nation's No. 7 company even if it hadn't given hefty campaign contributions.... usnews.com