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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (12576)	2/21/2002 11:04:35 AM
From: kodiak_bull	Read Replies (4) \| Respond to of 23153

Zoltan! Actually, although ENE makes excellent drama of the tragicomic sort, I have noted here and elsewhere that I find the news fascination with this story a bit overwhelming. To me it's just a classic, top o' the cycle, skating over the line implosion. A little securities violations ("failure to disclose a fact which would, in the light of all evidence, be material . . . " kinda stuffola) Maybe because it's Texas and the public mind has been hungry for a Texas sized scandal ever since we found out who shot J.R., or maybe because Congress can now parade all those who plead the Fifth in front of them and dress them down in a People's Republic "self-education" session. LTCM was a way bigger scandal, and threatened a whole lot more than the energy trading market (like Western financial systems), and was a bigger $$$ big money bailout, and we didn't hear a peep out of the cowards in the Congressional halls. Why? Well, for one thing, as poorly as these a#$$holes grasp offshore subs and balance sheet ballet, they would just look like grocery clerks talking to Meriwether about derivative instruments. I certainly don't blame the Clintonista regime and its Commerce Department for promoting ENE overseas; taken in context it only made sense. Similarly it's hard to blame campaigns for accepting checks from ENE and Arthur A; isn't that what campaigns are supposed to do? How much air time can you buy with donations from Buddhist temples? This is truly a storm in a C-cup, as the phrase goes. Kb