Enron

[Leslilake1 at aol.com]

I'll be debating my local Rush Limbaugh clone several times over the next few 
weeks on Enron (and local library policy, but that's another matter) as part 
of a semi-organized effort to get different points of view on the air.  The 
host's only consistent caller "on the left" is a little old lady, a Dem who's 
also a bit confused.  And she yells when he uses his lawyer tactics on her, 
which plays right into his evil hands.   :>)    

He's been talking up the point that the Bush admin, even though they got all 
that Enron $, did nothing to assist Enron in return.

In terms of the big picture, I'm not as interested in tarring the Bushies 
specifically as in tarring the political/economic system that runs on $, 
deregulation, etc.  But I would like to address this point, since he's been 
harping on it.   

So, here's what I've collected:

*  Private meetings with top officials to draft a new energy policy

   (This doesn't seem that sinister to me - aren't business reps usually 
involved in 

    policy consultations?   But - is it the records of these meetings that    

      

    Cheney's refusing to release?  Are records of public policy meetings 
normally                 

    open to the perusal of Congress and the public?)     

*  Special-interest provisions in the energy bill

    (Were any of those provisions ones that would benefit Enron in 
particular, as 

      opposed to energy companies generally?  In the article I have 
describing the bill,                          

      it talks about benefits to Peabody Energy & Halliburton, but not Enron)

* Bush admin stopped a plan to clamp down on off-shore tax havens 

    (Seems like this initiative started up under Clinton, got put on back 
burner, 

    probably for political reasons (?), and started up again at the end of 
the Clinton 

    admin?)

*  Bush stimulus package includes tax rebates for Enron

   (Is this at same time they have no taxes, see below...)

*  Enron paid no taxes some years 

  (but think this must have all been under previous admin, isn't upcoming 
filing the first     

   tax filing under Bush?)

*  Cheney pressured India to pay when Dabhol power plant deal went bad

    
*  Enron "hand-picked" their federal regulator

   (Who's the regulator?  What's the proof the regulator was "hand-picked"?)  

  

If anyone has or can direct me to information about these or other bennies 
Enron got since Bush took office, I'd appreciate it.  I'm already reading the 
Public Citizen & San Fran Chronicle collections on Enron.

Besides this specific point, I'm interested in the bigger picture.  My 
current understanding of the story so far is that Enron: 

- Formed in 1985 (a Michael Milken merger!) 
- Used connections/$ to get laws/regulations changed to be able to trade  

  energy as a commodity, more or less unregulated.
- Bush & Texas connections (GOP&Dem) particularly important during rise to 

  prominence 
- Threw $ to most of Congress, state/local gov'ts & judges, & overseas: 
Implicit if not 

  explicit bribery
- Owned some hard facilities, but made most of their money off trading
- Biggest profits came in conjunction with Cal deregulation
- Suggestions they interfered with supply to increase prices/profits       
- Problems started coming to light when Cal re-regulated (= problems with 
cash flow?)

Anybody out there who's following this stuff, is this accurate?

It's also my feeling, though I have limited evidence, that local power rate 
hikes and power losses here (WA state) during the California "rolling 
blackout" period are connected.  Also heard stuff about natural gas hikes 
back East & wondering if there's any connection there, since someone told me 
Enron also involved in natural gas.

If anyone can offer feedback/info/sources, it would be much appreciated.

Thanks,  Les