THE ENRON SCANDAL!

THIS ARTICLE HAS BEEN TAKEN FROM http://www.whatreallyhappened.com/enron.html

THE ENRON SCANDAL
ENRON COLLAPSE

On November 29, 2001, the Wall Street Journal ran an article, “Running on Empty-Enron Faces Collapse as Credit, Stock Dive and Dynergy Bolts” in which they reported, “Previously, even though Enron’s practices had worried some regulators, the Bush administration had kept its distance. Over the last decade, the company and its chairman, Mr. Lay, may have been Mr. Bush’s biggest financial backers, donating nearly $2 million to his campaigns. Before the company’s recent problems came to light, Mr. Lay enjoyed unusually good access to top administration officials, including Vice President Dick Cheney, who earlier this year drafted a new national energy plan that seemed to lean heavily on Mr. Lay’s suggestions.”

Based on this report, from a newspaper highly supportive of the Bush-Cheney administration, it appears that the National Energy Plan was at least in part an effort to help one of Bush’s largest contributors.

From the New York Times more light is shed on the secrecy. In particular,
note the paragraph describing what happened when an analyst asked a pointed
question about the balance sheet: cursing ensued! In other words, we are
not going to tell you.
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anted=print

November 30, 2001
Bankrupt Analysis
By ADAM LASHINSKY

“SAN FRANCISCO — In early 2000, Enron, the natural gas pipeline company
turned online phenomenon, held a daylong conference in Houston for Wall
Street analysts and investors. The audience, packed with financial experts
on the natural gas and power industries, was wowed by all the talk of
Enron’s online capabilities, especially its rapidly growing business of
electronically matching buyers and sellers of numerous commodities like
electricity and even network bandwidth.

The analysts were particularly receptive when Jeffrey Skilling, then Enron’s
president, suggested that the company’s money-losing broadband network
business alone was worth $29 billion, or an extra $37 a share. He even had a
nifty PowerPoint slide to explain his company’s proper stock price.

Unsurprisingly, Enron’s shares skyrocketed by more than 50 percent in the
first half of that year. Enron, it seems, had become an Internet company,
and decidedly old-economy energy-industry analysts were loath to be left
behind. Many openly acknowledged their lack of understanding of Enron’s new
lines of business – but hey, the company told such a good story. Why quibble
over a few murky details?

Now Enron teeters on the brink of bankruptcy, and it’s tempting to paint its
demise as a series of extraordinary events driven by behind-the-scenes deals
hidden by questionable accounting. And in fact, there’s no doubt that the
company was engaged in some pretty unusual deals, and that it was less than
forthcoming about them.

One of the lessons of the Internet boom is that it’s often difficult for
analysts to understand and evaluate new kinds of businesses. And executives
like Mr. Skilling, who once swore at an analyst during a conference call for
asking a pointed question about Enron’s balance sheet, don’t do much to
foster the kind of open inquiry that could lead to better information.

But the Enron debacle is also emblematic of another problem that has become
all too evident in the last few years: Wall Street’s loss of objectivity.
Investment banks make far more money from underwriting or merger deals than
they do from broker fees. Analysts at these firms often face conflicting
loyalties. They can be put in the position of having to worry as much about
whether a chief executive might find a report offensive as whether an
investor might find it helpful.

In early 2000, Enron let it be known that it was considering a separate
public offering for its Internet operations. Analysts who raised prickly
questions about an initial public offering could be assured that their firm
wouldn’t be chosen for the underwriting. That I.P.O. never happened, of
course, as Enron’s plans for the broadband business collapsed. Nevertheless,
Wall Street failed to ask the questions that might have protected investors
from Enron’s plunging market value.”

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Obviously, there are very shady dealings around the Enron-Cheney
relationship that need the full attention of Congress, the SEC, and the US
Justice Department. The energy plan wasn’t about energy independence at all
or it would have addressed conservation much more seriously.

Donna Fezler

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03/22/02 Stunning Depths of Government Collaboration with Enron Revealed Enron was built with $7 billion (with a “b”) of your tax dollars.

03/29/02 The Army Secretary’s Business

04/4/02 BBC to broadcast documentary on ENRON

04/1/02 Enron asks Bankruptcy Judge for Executive Bonuses

03/23/02 Arthur Anderson claims Federal Government does not have Constitutional Jurisdiction in shredding case. Given that the Enron case stretches across borders, my opinion is that the “Laws of other nations” clause may apply here. However, it would be interesting if the Enron case did result in reminding the public that the Federal Government is NOT supposed to be in the law enforcement business, which is reserved to the states.

03/25/02 Rumsfeld, White, and ENRON

03/26/02 White may have had inside information when he sold his Enron stock

03/26/02 Links between Enron and the War On Terror It’s all about the oil

03/17/02 Anderson destroyed tons of evidence

03/17/02 Connecticut Authorities received bonuses after signing deal with Enron

03/12/02 The Enron-Cheney-Taliban Connection?

03/14/02 Arthur Anderson to be charged in Enron Fraud.

03/15/02 US pulls plug on all future dealings with Enron and Anderson

03/15/02 Bush Flatly Refuses to Hand Over Energy Papers: “a threat to executive authority” Impeachment, followed by a decent tarring and feathering!

03/06/02 Bush and Enron were business partners

03/08/02 BREAKING: ENRON GAVE MONEY TO TALIBAN Used CIA as business agents in Afghanistan

03/07/02 Enron’s links to the bin Ladens

03/04/02 Enron’s code of ethics I know, I know, but at least it LOOKED good for a while.

# 02/23/02 ENRON MAINTAINED FAKE TRADING FLOOR TO TRICK ANALYSIS INTO THINKING BUSINESS WAS GOOD If this isn’t fraud, what is?

# 02/20/02 ENRON’s new $5 billion black hole Who and what is WhiteWing Associates?

# 02/25/02 Congressional investigator fears there are more Enrons out there.

# 02/25/02 ENRON at heart of Argentine collapse Argentine government’s Minister of Public Works says George W. Bush visited in 1988 to push transfer of Argentina’s public energy into ENRON’s private hands

02/04/02 ENRON inquiry in disarray Is there anyone working on the investigation who really wants it to go anywhere?
01/29/02 ENRON: Cash, Sex, and Fast Living Sounds like the final days of Rome
01/27/02 New York Times chart plots ENRON meetings with officials against stock price decline
02/07/02 Enron exposed the shady practices corporate executives use to swindle their investors … and which congress ignores as long as those donations keep rolling in.
How Enron looted the public
How Enron looted the public, part 2
Enron scandal gets worse
Enron “only company to warrant an entire Amnesty International report, a chilling catalogue of human rights abuses from India to Latin America”
Wall Street looked other way while Enron collapsed.

02/12/02 ENRON Exploding The rich got richer,the poor got screwed, life goes on an usual in corporate America

ENRON AND THE WHITE HOUSE
03/04/02 Enron+Cheny+Taliban = War for OIL There is the motive for the murder of Baxter and the shredding of documents.

03/04/02 The Enron-Cheney-Taliban connection

01/28/02 Bush fired Federal Energy Regulatory Commission Chairman Curtis Hebert, Jr. on orders of ENRON CEO
01/29/02 ENRON: Friends in high places
01/29/02 Bush’s Enron Amnesia
01/29/02 Current Comptroller General of the United States and head of the GAO was Global Managing Director for Arthur Anderson, the company which shredded Enron documents.
02/02/02 Bush handed key energy appointments to people chosen by Enron’s Kenneth Lay
02/06/02 Bush: Enron can be investigated by the Justice Department because there is no conflict of interest.
02/05/02 Was Enron behind the war in Afghanistan?
01/27/02 74% of ENRON’S political contributions went to Republicans
01/27/02 Trillion Dollar Hideaway Where the rich stash their tax-free loot
01/27/02 ENRON, with almost 900 “subsidiaries” in tax-havens, did not pay income tax for four out of the last 5 years. Just keep that in mind while filling out the ol’ 1040
01/27/02 Senator Lieberman’s former aid now lobbyist for ENRON
01/27/02 ENRON poured money into policy think tanks
01/27/02 Newsweek reports on Alan Greenspan’s awkward acceptance of the “Enron Award for Distinguished Public Service,” handed out just days after the company admitted filing misleading financial reports.
01/27/02 ENRON spotlight falls on Cheney
01/27/02 ENRON C.E.O. not talking to President Bush, at least, not directly Part 2
01/27/02 BUSH ENERGY PLAN – POLICY OR PAYBACK? (BBC TRANSCRIPT) “Any fantasy that a CEO has can come true if you put enough money into Bush’s political ambitions.”
George Bush, the corporations’ flag carrier The foreign press tells it like it is
Managing Partner of Arthur Anderson’s Houston “shredding parlor” is a “Bush Pioneer”

ENRON did not pay income tax 4 out of 5 years
US Excel worksheet showing shift of taxation from corporations to citizens

White House worked directly with Enron in India power plant dispute
Enron entangles the Bush White House Cabinet Members received advance warnings, Ashcroft recuses himself

More on the Bush/ENRON connections.

Enron threat to Bush
Bush and Enron before the election
01/27/02 ENRON: Crimes were committed
Collapse of Argentina has ties to Bush and ENRON

Current head of Homeland Security Gestapo is former ENRON Executive Need a whistleblower silenced?

ENRON and Arthur Anderson STILL getting taxpayer money.
Letter from Waxman to Cheney regarding ENRON GIF file, so slow loading
02/17/02 ENRON put Bush in the White House
02/16/02 Bush, while Governor, helped Enron do what it was doing.
02/12/02 The NY Times tries to polish Rubin’s ENRON image
02/12/02 Judge to White House: Save Enron Records

ARTHUR ANDERSON’S FRAUD

03/26/02 CEO of Arthur Anderson steps down Rats. Sinking ship.

01/27/02 More ENRONS out there; the rot is systemic
02/02/02 Arthur Anderson missed $644 million error Meanwhile, the IRS will draw and quarter any citizen who makes a ten cent mistake in the old 1040
01/30/02 “Suspicious” death of Arthur Anderson consultant
Current heads of SEC and GAO previously worked for ENRON’s auditors
ARTHUR ANDERSON HOUSTON OFFICE ORDERED TO DESTROY ENRON DOCUMENTS BY CHICAGO HEADQUARTERS AFTER ARRIVAL OF SEC SUBPOENA
02/01/02 Enron board members APPROVED debt concealment
01/30/02 Waiting for the next Enron revelation It’s dangerous to bring up Vince Foster, given that the FBI was exposed for the fraudulent manufacture of evidence in that case
02/03/02 Most Fortune 500 companies playing “Enron-esque” accounting games.
02/03/02 ENRON and Arthur Anderson are NOT exceptions
02/02/02 ENRON not the only bad apple
Managing Partner of Arthur Anderson’s Houston “shredding parlor” is a “Bush Pioneer”
Arthur “Shredders-R-us” Anderson contacts to audit FBI files After all the destroyed evidence in the Oklahoma Bombing case I’ll bet this gives you a warm and fuzzy feeling
Arthur Anderson’s shady past What James C. Beyer is to murder, Arthur Anderson is to stock scams

THE BODIES PILE UP
03/08/02 BREAKING: ENRON EXECUTIVE BAXTER WAS MURDERED

# 02/28/02 BREAKING: ENRON EXECUTIVE BAXTER’S AUTOPSY POINTS AWAY FROM SUICIDE AND TOWARDS MURDER With new info

Enron corporation complicit in Human Rights violations When you donate to half of the US Congress, I guess you can afford to be.
02/04/02 ENRON: Let’s blame the middle managers!

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ENRON EXECUTIVE JOHN CLIFFORD BAXTOR FOUND DEAD OF PURPORTED SUICIDE
Whistleblower named Baxter as a key player who spoke out against ENRON’s use of the LJM partnership to conceal hundreds of millions of dollars in debt. According to Baxter’s lawyer, Baxter was going to cooperate with investigators. Oddly, the car in which Baxter’s body was stopped in a turning lane between two medians in the middle of a major street, a rather atypical location for a suicide committed in a car. In addition, it is reported that the suicide gun was found in Baxter’s hand. This alone rules out a genuine suicide, as the recoil of a fired .38 will remove it from a hand deprived of any nerve control from the brain.

01/31/02 Baxter death NOT ruled a suicide just yet.

01/27/02 Baxter told friends he “needed a bodyguard” shortly before death
01/27/02 ENRON investigator puzzled: Baxter had nothing to be ashamed of Flashback: Remember the totally bogus autopsy that “proved” Vincent Foster committed suicide?
02/07/02 Baxter’s death looks like Foster’s For the newcomers, Vince Foster’s murder is covered Here

Is it time to start a new “Political Dead Bodies” list?

02/13/02 The official story of former Enron Vice Chairman Cliff Baxter contains “inaccuracies”

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# 02/28/02 BREAKING: ENRON EXECUTIVE BAXTER’S AUTOPSY POINTS AWAY FROM SUICIDE AND TOWARDS MURDER With new info

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DELIBERATE CRIMES

Is ENRON the new BCCI?
01/28/02 Real media interview with COPVCIA’s Mike Ruppert: ENRON a huge money laundering operation I was right, ENRON is the latest version of BCCI