George W. Bush must be feeling an acute sense of déjà vu these days, as the dubious dealings of the accounting firm Arthur Andersen, LLP take center stage in the Enron scandal.
What would Jesus do? It's a no-brainer; he would leave the Christian Coalition, take a consulting job with Enron and then use his divine power to make George W. Bush president.
The Supreme Court has made a decision that is wrongheaded, and wrong.
For weeks, conservative commentators and Bush White House defenders have been huffing that the Enron matter is a corporate scandal, not a political controversy--that it is an affair of business sku
It was a mistake--and a beaut--in Matt Bivens's piece "The Enron Box" where he confused the Houston Astros and the Texas Rangers. It is hereby duly acknowledged and regretted. But what really astonished us was the way it unleashed a slick triple play by the Right-Wing Conspirators (a Class C club that plays the Washington-New York corridor). You've heard of Tinker to Evers to Chance? Well, this was Wall Street Journal to The Weekly Standard to Fox News's Brit Hume. The WSJ caught Bivens's blooper; then The Weekly Standard grabbed amd waved it long enough to say "Nyah, nyah" before Brit (Mr. Inside) Hume gobbled up the ball and hinted darkly of cover-up (or something) on Fox News. This dazzling play illustrates how the opposing team will seize on a minor miscue and use it to clear George W. Bush of any involvement in the Enron scandal. OK, we admit the error shows we are sometimes sports-challenged; next time we'll check with a baseball expert like George Will. Lest the real issues be lost out in right field, however, we bring you a comment on Bush and baseball posted by the witty sportswriter Charles Pierce, a commentator on NPRs Only a Game and the author of Sports Guy: In Search of Corkball, Warroad Hockey, Hooters Golf, Tiger Woods, and the Big, Big Game. He posted it on Jim Romenesko's Media News (www.poynter.org):
"As to The Nation's unfortunate collision with the national pastime--the passage ought to read:
'When George Bush co-owned the Texas Rangers with a bunch of businessmen who had all the real money, construction began on The Ballpark At Arlington, after the ownership group finagled the eminent domain laws in order to swindle some property owners out of the market price for some valuable land. The property owners sued and won, but The Ballpark arose anyway, enabling Mr. Bush to cash out his original investment several times over without ever having done any actual work. This helped launch the successful portion of his political career, culminating in his becoming President of the United States, a job from which he took an evening off last spring in order to be the guest of Kenneth Lay for the opening of Enron Field in Houston. Mr. Lay was CEO of Enron and a well-known political supporter of the president who, these days, of course, would not recognize him from a box of turnips.'
"The Nation, I am sure, regrets the error."
Indeed we do.
One of the major falsehoods being bandied about by apologists for the Bush Administration is that while Enron may have bankrolled much of the President's political career it got nothing for those
The rise and fall of the house of Enron should trigger comprehensive investigations--civil, criminal and Congressional. The full scope of relations between Enron and its cronies in the Bush Administration must be dragged out into the sunlight. Miscreants should be prosecuted, and fundamental reforms enacted to bring corporations back to public accountability.
Desperately trying to put a lid on the cascading scandals, White House spokesmen have insisted that since Bush officials did nothing when Enron chairman Ken Lay warned them about its impending collapse, there is no political scandal, only a financial one. Don't fall for that.
The largest scandal, as Robert Borosage suggests on page 4, is not just what was done illegally but what was done legally--for example, the failure of Bush Cabinet members to warn small investors and employees that Enron was going down and that its executives were bailing out. Or the slick way Enron gouged billions from Western energy consumers while its planted head of the Federal Energy Regulatory Commission, Pat Wood, ignored the pleas of Western governors for price controls. Or Treasury Secretary Paul O'Neill's torpedoing of the Clinton Administration's attempt to regulate offshore tax havens, a direct benefit to Enron, among others. Or Enron officials' six meetings with Vice President Cheney to help shape Bush's energy plan. What is Cheney hiding by refusing to reveal the names of those FERC met with?
Clearly, the full range of Administration contacts with Enron should be probed. This will reveal how crony capitalism works and what must be done to curb it. Congress must begin the hard task of rebuilding the legal framework for corporate accountability. As William Greider writes on page 11, Enron's demise reveals that all the supposed checks on executive plunder--accountants, stock analysts, independent board members, regulatory agencies--were either short-circuited or inactive. We need bold reform now. And Congress should take a close look at pensions, boosting defined-benefit plans and returning 401(k) plans to the supplement they were intended to be. And of course Enron once again illustrates the corrosive corruption of big-money politics.
With the House and the White House in Republican hands, Democrats in the Senate, sadly, will have to take the lead in ferreting out the facts and defining the necessary reforms. "Sadly" because too many Senate Democrats mirror Republicans in pocketing corporate bucks and parroting the deregulation/privatization line that comes with them. The chairman of the Governmental Affairs Committee, Joseph Lieberman, was leader of the corporate-funded Democratic Leadership Council and a founder of New Democrat Network, the proud recipient of Enron contributions. Last year Lieberman blew off the probe of Enron's connections to the California energy crisis. He now has another chance to show if he stands with his voters or his contributors.
Enron's bankruptcy is the largest in US history, but it is not unique. It is a product of the conservative offensive to unfetter corporations by dismantling hard-won public protections. Given that freedom, Enron's executives--and their brethren--gouged consumers, fleeced investors, even betrayed their own employees. It's time for Congress and the people to put an end to Enronomics and call corporate marauders to account.