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

To: Raymond Duray who wrote (1949)	3/22/2002 11:15:13 AM
From: GUSTAVE JAEGER	Respond to of 3602

FEATURE STORY \| April 8, 2002 Enron Democrats by WILLIAM GREIDER If left-labor-liberal progressives had the cohesion and muscle of their right-wing opposites, they would be articulating a simple-to-understand litmus test for the Democratic Party--no "Enron Democrats" on the presidential ticket in 2004. That precondition would eliminate a number of presidential wannabes now mentioned by the Washington media's Great Mentioner. Scratch Senator Joe Lieberman. Forget the happy talk about Senate majority leader Tom Daschle's running for the White House. And Senator Joe Biden can stop daydreaming. These men--and perhaps some other would-be candidates--do not pass the Enron smell test. It is not that Enron Democrats got a lot of money themselves from the now-ruined energy company, but they are implicated in more significant ways. On various matters, they helped set the stage for the scandalous behavior of Enron and other highfliers now in disgrace. They defended the degraded accounting standards that hoodwinked investors. Or they promoted financial gimmicks and deregulatory measures that opened the way for grand malpractice. Or they formed thick alliances with the very banks, auditing firms and corporations that are now running for cover--sued, investigated or defrocked as New Economy marvels. Enron Democrats are compromised by their own past behavior, which explains why the Democratic Party's reaction to this spectacle is so muted. Much as in the S&L scandals of the late 1980s, an unspoken truce may emerge between the two parties--don't throw mud at me or I'll throw some back--since so many leading Democrats are implicated along with the Republicans. The hallmark of "Enron issues" is the ease with which Democrats desert the interests of their party's core constituencies to serve the political needs of business and banking. Some doubtless do so as a matter of conviction; some doubtless are convinced by the money. [snip] thenation.com