Enron

John K. Taber jktaber at tacni.net
Fri Jan 11 08:05:03 PST 2002


Chuck Grimes <cgrimes at rawbw.com> wrote:


> Do the phrases like `damage control,' `plausible deniability', ring a
> bell?
[snip]
> Justice will re-focus on the business executives, who will all blame
> it on the accounting firm. The accounting executives will blame it all
> on mis-communication with middle managers. Instead of pursuing the
> investigation up the ladders of political power, the FBI/Justice will
> move down the ladder into the business realm. There will be calls for
> legislative reform, but for the sake of bi-partisanship, congressional
> Democrats will do nothing. Hearings will proceed and various boards
> and commission will promise to do better. Calls for a special
> prosecutor will be met with charges of typical Democrat partisan
> bickering.

To back Chuck up, here is an interesting comment buried in a NY Times article "Justice Dept. to Form Task Force to Investigate Collapse of Enron" http://www.nytimes.com/2002/01/10/business/10ENRO.html

But some past efforts by the Justice Department to take a more

central role in a criminal investigation of a corporation with

influence in Washington have raised concerns about potential

political influence over the inquiry. For example, in the 1990's,

when part of an inquiry involving the Archer Daniels Midland

Company was assigned to the fraud section, some critics contended

— to the vehement denials of Justice officials — that Washington

was trying to protect Archer, the politically influential grain

company. Enron, whose officers have been close to both President

Bush and Vice President Dick Cheney, has exercised similar political

influence in the past.

If you own the Justice Dept, that seems like a good organization to investigate something that would otherwise embarrass you.

Archer Daniels Midland is still irritating me to this day with its smarmy ads on PBS.

-- John K. Taber



More information about the lbo-talk mailing list