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Enron Bankruptcy "Bombshell"
CBSNEWS ^ | Friday, January 11, 2002

Posted on 01/11/2002 3:09:16 AM PST by JohnHuang2

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Quote of the Day by IowaHawk
1 posted on 01/11/2002 3:09:16 AM PST by JohnHuang2
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To: JohnHuang2
what's with ARthur Andersen? Wasn't their company involved in several major failures in recent hostiry, including Colonial Realty and a few others?
2 posted on 01/11/2002 3:24:32 AM PST by camle
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To: JohnHuang2
There's also another reason why this won't dim GW Bush, I think. He is being utterly forthright. And what is more, he has a reputation for being forthright. The pygmies in the Democrat Party may try to cast aspersions on him, but it won't stick - trying to make GW Bush into a devious figure in the public imagination is a laughable idea.

Regards, Ivan
3 posted on 01/11/2002 3:32:53 AM PST by MadIvan
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To: JohnHuang2
did laura bush short enron stock?
4 posted on 01/11/2002 3:35:04 AM PST by Rustynailww
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To: MadIvan
There's also another reason why this won't dim GW Bush, I think. He is being utterly forthright. And what is more, he has a reputation for being forthright. The pygmies in the Democrat Party may try to cast aspersions on him, but it won't stick - trying to make GW Bush into a devious figure in the public imagination is a laughable idea.

Bull's-eye, amigo. Gee, didn't the rats waste years trying to pin scandal on the Gipper, only to meet with frustration every time? For the reasons you cited.


5 posted on 01/11/2002 3:42:44 AM PST by JohnHuang2
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To: JohnHuang2

The Enron scandal is the third in a string of financial disasters for Andersen. The firm allegedly signed off on financial statements for Sunbeam Corp., which was later sued by the SEC for fraud, and for Waste Management, which later was found to have overstated profits by $1.4 billion. Andersen paid hundreds of millions of dollars to settle those cases and a $7 million government fine.

Could it be that AA is the real reason for Enron employee's losing millions?  They were putting out false financial statements.

6 posted on 01/11/2002 3:43:53 AM PST by PogySailor
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To: JohnHuang2
They first tried calling Uncle Ron stupid, then they tried to make him seem devious with Iran Contra. Neither worked. Reagan won.

Bush is going through the same spin cycle, except the Democrats are going through it more quickly as lines of attack on him are fading fast.

Regards, Ivan
7 posted on 01/11/2002 3:44:45 AM PST by MadIvan
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To: PogySailor
The reputation of AA over here isn't very good. I remember being told, "Once you let them in, you never get rid of them. Once they start giving advice, they never stop." And as such they entrench themselves within companies. However I can't think of a single company that has been successfully guided by that crew. The second part of their reputation over here is that they treat their employees very badly.

Regards, Ivan
8 posted on 01/11/2002 3:46:48 AM PST by MadIvan
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To: MadIvan
They first tried calling Uncle Ron stupid, then they tried to make him seem devious with....

hmmmm...sounds familiar, doesn't it? What do they say about those who learn nothing from history?

9 posted on 01/11/2002 3:49:09 AM PST by JohnHuang2
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To: JohnHuang2

This is the root of their Enron fixation. But unfortunately for them, Enron won't save them either. Their fanatical putsch will not only fail, it will backfire. The reason is simple: This President has forged a powerful bond with the people, especially in the wake of September 11. There's a chemistry there, one which Democrats, blinded in their hatred, have yet to fathom. This rapport, this wonderful chemistry, this mighty solidarity transcends race, ethnicity, party, religion, gender; Americans of all walks of life see in this humble man, this down-to-earth, straight-talker from Midland someone whom they can trust, someone they can believe in again. His persona embodies the optimism, the idealism, the cheerful self-assurance and confidence which makes us Americans.

 

I think the gloves came off last Saturday.  The 'rats have opened up Pandora's box by trying to pin Enron's collapse on GWB.  The real  influence pedaling Enron engaged in with the Clinton administration will all be dredged up for public review.

10 posted on 01/11/2002 3:49:49 AM PST by PogySailor
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To: PogySailor
The real influence pedaling Enron engaged in with the Clinton administration will all be dredged up for public review.

Exactly -- and they will rue having cast the fall of Enron as a Bush political scandal.

11 posted on 01/11/2002 3:54:42 AM PST by JohnHuang2
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To: JohnHuang2
This is the root of their Enron fixation. But unfortunately for them, Enron won't save them either. Their fanatical putsch will not only fail, it will backfire. The reason is simple: This President has forged a powerful bond with the people, especially in the wake of September 11.

You are, sir, right on the money (pardon the expression), as usual.

But you didn't go far enough, because the Dems themselves are hip deep in Enron.

This is one can of worms they don't want to open up.

12 posted on 01/11/2002 3:59:28 AM PST by metesky
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To: JohnHuang2
Wonderful article, John,.....my thoughts exactly, but you are more articulate.
The Rats and media are trying to steam-roll this into something it isn't.

Beware...GW...they don't play fair in DC

13 posted on 01/11/2002 4:00:28 AM PST by mystery-ak
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To: JohnHuang2
This is another one week wonder as a political story. As was Daschle's speech last week.

I'm listening to the radio at 0800et, and it's being played totally as a political story, not a business story. Of course, Ann Coulter for ABC is not my definition of smart. And rather ingnorant of a large picture on anything---she heads for a headline detail. Not deep, and for her age that means she'll never be good.

Ah, well.

14 posted on 01/11/2002 4:02:34 AM PST by Blagden Alley
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To: PogySailor
The big wig demos in Texas are going all out to make poitical hay out of this. My mother in law's boss (Bill Clinton's financial backer) called yesterday wanting a friend of mine who works at Enron to have a chat with him. They are interviewing Enron employees and ex-empoloyees trying to get more dirt on Enron and Bush.... of course thats not how he put it.

I wish I could have found out more about their strategy.... but my mother in law knows her job well and doesn't say a thing.

15 posted on 01/11/2002 4:04:13 AM PST by StolarStorm
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To: JohnHuang2
If the state of California would pay Enron what it owes to Enron would not this solve the cash shortage problem? Govenor Davis is reported to be arranging "payoff" as we write.
16 posted on 01/11/2002 4:08:11 AM PST by Blake#1
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To: JohnHuang2
"The real influence pedaling Enron engaged in with the Clinton administration will all be dredged up for public review."

"Exactly -- and they will rue having cast the fall of Enron as a Bush political scandal."

Maybe so, but will the Klintoon involvement be reported?

Another thing, why is this important at all? We were taught that such "corruption" is not relevant to running the country. And, if you were crying bloody murder with all the Klintoon scandals, you got no right to be speaking up now. You either have to admit Klintoon was guilty in order to accuse W or you have to say that both are irrelevant.

Of course, that only applies if you are intellectually honest, have a brain, and apply logic. Well, that eliminates leftist libs.

17 posted on 01/11/2002 4:08:19 AM PST by Lee'sGhost
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To: metesky
Thanks, my friend.

This is one can of worms they don't want to open up.

Indeed, I touched upon this angle in another essay I wrote yesterday:

=====================================================

And they say character doesn't count

The decision by the U.S. Department of Justice to set up a special task force to spearhead a criminal probe of the circumstances surrounding the sudden collapse of Enron Corp. should come to no one's surprise.

After all, this isn't the Reno/Clinton DOJ anymore.

Recall the myriad stunts the Clinton White House would roguishly pull to frustrate, stonewall, impede or choke-off legitimate inquiries into Whitewater, Chinagate, Travelgate, Filegate, impeachment, etc. Indeed, in the Tyson Food case alone, tallying up the number of roadblocks and backroom maneuvers to bottleneck the work of Independent Counsel Donald Smaltz could easily fill the Clinton library -- and then some.

Moreover, the department's decision to plumb the depths of the looting and fraud -- the mammoth shellgame -- which led this erstwhile energy trading colossus, whose stock once traded at $90/share, straight into bankruptcy court last December has wider implications, beyond the prosecutorial.

The Justice Department, by taking this unprecedented step, steals the thunder right from under the partisan Bush-haters on Capitol Hill. U.S. Senators Carl Levin (D-Mich) and Joseph Lieberman (D-Conn) -- the latter mulling a run for the White House in '04 -- had planned to launch a lavish fishing expedition, featuring highfalutin, made-for-TV, dog-n-pony 'show-trial' "hearings", all in the "noble" pursuit of trafficking in innuendo, in the hopes of inflicting maximum damage on the Bush administration.

Senator Levin et al wouldn't want to jeopardize the Enron investigation, or undermine the tedious work of prosecutors while tipping-off potential criminal targets, just to indulge their cheap, political vendetta against this President, now would they? (Wink, wink).

In coordinating the work of prosecutors in cities across the land, and mustering the dept's fraud section to the task, DOJ catapults this probe on the fast track, rendering any shrieks of 'cover-up' wholly vacant and silly.

As in all investigations, expect the unexpected. In the end, ironically enough, the Democrats may rue having foolishly politicized the fall of Enron. DOJ, un-encumbered by petty political considerations, will probe ALL of Enron's nefarious dealings/machinations. Particularly delicious are the links between former TVA (Tennessee Valley Authority) director Johnny Hayes, Charles Bone of Wyatt, Tarrant & Combs, a Nashville law firm and one former U.S. vice-president who's sporting a beard these days. Gore pals Hayes and Combs, according to a recent MSNBC report, were paid lucrative sums last year by -- you guessed it -- Enron Corp. for lobbying purposes.

But that's not all. According to the Tribune-Review, Enron and the Clinton-Gore administration were joined at the hip, profiting mutually from their incestuous relationship. Bill Clinton personally opened up many overseas markets for Enron especially, and Enron, in return, introduced Clinton-Gore to the infamous Lippo Industries and John Huang. But there's more -- much more, all of which will now come under the proverbial kleig lights.

And they say character doesn't count, eh?

My two cents..
"JohnHuang2"


18 posted on 01/11/2002 4:12:35 AM PST by JohnHuang2
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To: mystery-ak
Thank you =^)
19 posted on 01/11/2002 4:13:16 AM PST by JohnHuang2
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To: metesky
"But you didn't go far enough, because the Dems themselves are hip deep in Enron.

This is one can of worms they don't want to open up."

You know, I've heard this about a thousand times, and even believe it until now. If the dims are so damned scared, why are they running at break-neck speed to embrace it? I know that they are fundamentally flawed in their believes, but they can also be very, very shrewed. Is this a case of eating their own to get to W? What do they have to lose -- Klintoon's good name? Hahahahaha. This just isn't adding up in terms of the "they don't want to go there" arguement.

20 posted on 01/11/2002 4:14:33 AM PST by Lee'sGhost
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