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Thursday, June 01, 2006

Bush Links Energized Enron - by Robert Scheer

The Bush family consistently acted to put Enron and its longtime CEO, Ken Lay, into a position to rip off investors and taxpayers. Why is the mass media ignoring that fact now that Lay has been convicted in arguably the most egregious example of white-collar fraud in U.S. history'
Until he hooked up with the Bushes, Lay was just another mid-level energy trader complaining endlessly about being hemmed in by onerous government regulations and those terrible consumer lawyers who prevent free market hustlers from doing their thing. But after he and his company became top supporters of the Bushes ' eventually giving $3 million in total to various Bush electoral campaigns and the Republican Party ' doors opened for them in a big way. In particular, once Bush the father got rid of key energy industry regulations, Lay was a made man and Enron's fortunes soared.
This program of corporate welfare led Lay to dub the first President Bush 'the energy president' in a column supporting his reelection because 'just six months after George Bush became president, he directed ' the development of a new energy strategy,' which, in effect, compelled local utility companies to carry Enron electricity on their wires. It was, Lay crowed, 'the most ambitious and sweeping energy plan ever proposed.'


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