Enron Field

Plays of the Day

The Nation
Kevin Phillips
July 8, 2002

Dynasties!

Episode by episode, none of the Bushes' Enron involvement seems to be illegal. Before 2000-01, moreover, the ties weren't overwhelming in any one national administration. However, the only way that a chronicler can seriously weigh the Enron-Bush tie is by a yardstick the American press has never really employed: the unseemliness of a sixteen- or seventeen-year interaction by the members of an American political dynasty in promoting and being rewarded by a single US corporation based in its home state.

The Consortium
Sam Parry
May 29, 2002

Bush Did Try to Save Enron

Bush's supporters have successfully spun the Enron collapse as a financial, not a political scandal. But the record is clear: Until the Enron bankruptcy, the Bush White House did what it could to promote Enron's interests.

The New York Times
Kurt Eichenwald and Michael Brick
April 8, 2002

Enron Investors Say Lenders Took Part in Fraud Scheme

In an expanded lawsuit expected to be filed today, Enron shareholders accuse some of the country's top financial institutions of knowingly participating in a scheme to defraud them, adding new details about deals involving banks and investment firms that kept Enron afloat even as its finances were falling apart.

Reuters
Jeff Franks
April 5, 2002

Ken Lay Probed for Alleged Insider Trades

The FBI's investigation into former Enron Chairman Ken Lay is focusing on allegations he illegally sold stock after learning his company's finances were unraveling, sources close to the case said on Friday.

Washington Post
Ellen Nakashima
April 5, 2002

Army Secretary Defends Support From Enron

While his confirmation as Army secretary was pending last spring, Thomas E. White received significant support from his employer, Enron Corp., including a letter of recommendation from then-Chairman Kenneth L. Lay and rides to and from Washington on the company's jet.

The Nation
John Nichols
April 3, 2002

Enron: What Dick Cheney Knew

If there is any realistic hope of exposing the extent to which Enron's machinations corrupted U.S. policy at home and abroad, then the Office of the Vice President is not only a good place to start, it is the essential beginning point.

San Francisco Chronicle
Rob Morse
April 1, 2002

Wall Street Journal Sees Energy Scandal as Just Bush League

The editorial page of America's foremost business paper says it's a big ho-hum that the Bush administration has been in bed with the energy industry, which has been screwing the American people.

Washington Post
March 28, 2002

The Army Secretary's Business

Since becoming secretary of the Army, former senior Enron executive Thomas E. White has still found time to conduct non-Defense Department business. That would be of little moment were it not for the possibility that how the secretary spends his personal time may conflict with the public interest he is sworn to uphold.

Washington Post
Ellen Nakashima
March 25, 2002

White Made More Calls Before Selling Enron Stock

Last October, Army Secretary Thomas E. White, a former Enron Corp. executive, met or phoned former colleagues at the energy company as many as 13 times prior to his decision to sell more than 200,000 Enron shares at the end of that month, according to information he has provided a House committee.

Reuters
Susan Cornwell
March 23, 2002

U.S. Senate Panel Issues Subpoenas in Enron Probe

A U.S. Senate committee has issued subpoenas to Enron Corp. board members to ask about their contacts with the Bush and Clinton administrations, including communications on energy policy, a committee spokeswoman said late on Friday.

Associated Press
Alan Fram
March 22, 2002

Senator: Enron May Be Subpoenaed

Lawmakers may issue subpoenas in an effort to force the Enron Corp. to disclose the names of investors in its numerous partnerships, a senator involved in Congress' investigation said Friday.

Financial Times
Peter Spiegel
March 20, 2002

Fastow Points Finger At Enron Officials

Lawyers for Andrew Fastow, Enron's former chief financial officer, told investigators that he was not responsible for signing off on the accounts for the controversial private partnerships that brought the company down. Instead, his attorneys pointed the finger at the company's lawyers and accountants, saying Mr Fastow relied on them for disclosing and approving any questionable deals.

Financial Times
Peter Spiegel
March 20, 2002

Fastow Points Finger At Enron Officials

Lawyers for Andrew Fastow, Enron's former chief financial officer, told investigators that he was not responsible for signing off on the accounts for the controversial private partnerships that brought the company down. Instead, his attorneys pointed the finger at the company's lawyers and accountants, saying Mr Fastow relied on them for disclosing and approving any questionable deals.

The Guardian
Duncan Campbell
March 19, 2002

Enron: The Movie

It has drama and corruption, heroes and villains, violent death and a mystery ending. So perhaps it is hardly surprising that the bidding wars have started as studios enter the race to make the first film about the Enron scandal.

Washington Post
Peter Behr and April Witt
March 19, 2002

Ex-Enron Executive Related A Dispute

Two weeks before his suicide in January, former Enron Corp. executive J. Clifford Baxter told investigators about conflicts with the company's then-president, Jeffrey K. Skilling, that Baxter said marred his final years at the company, according to a memo on the interview.

Bloomberg News
March 15, 2002

Lawyers For Enron Under Fire

U.S. lawmakers on Thursday accused Enron Corp.'s lawyers of covering up an employee's allegations that the world's largest energy trader hid debt and losses in partnerships before its collapse last year.

The New Republic
Ryan Lizza
March 14, 2002

White Out

Secretary of the Army Thomas White, the eleven-year Enron executive who joined the administration last June, has been mired in the Enron scandal since the company went bankrupt. From 1998 to 2001, he was vice-chairman of Enron Energy Services (EES), which seems to have cooked its books as much as the rest of the company.

Spinsanity
Brendan Nyhan
March 12, 2002

Another Bedroom Farce, Part 2

The myth that Ken Lay stayed overnight in the Lincoln Bedroom of the Clinton White House, has been repeated in a long list of publications and TV shows since January. But this one appears to be dying a slow death.

Los Angeles Times
John Balzar
March 10, 2002

MIA: A War on Greed

If President Bush had been as tepid in responding to Al Qaeda as he has been to Enron et al, you could lop the zero off his 80% approval rating. As for Congress? Milquetoast.

The New York Times
Alex Berenson
March 7, 2002

Army Official Kept Options on Enron Stock Until January

Thomas E. White, a former top executive of the Enron Corporation, promised to give up any financial interest in Enron when he became secretary of the Army, but held options to buy 665,000 shares until early this year.

The Nation
David Corn
March 4, 2002

W.'s First Enron Connection: Bush and Company Were Oil Partners

Did George W. Bush once have a financial relationship with Enron? In 1986, according to publicly available records, the two drilled for oil together -- at a time when Bush was a not-too-successful oil man in Texas and his oil venture was in dire need of help.

Common Dreams
Ira Chernus
March 2, 2002

Bush Sticks His Head Out For Nobody

When Enron was at the top of the heap, Kenneth Lay had the key to the White House washroom. The door to the Oval Office was always open. Now itıs "Ken who?" Loyalty to your friends is no virtue in the White House. That is yet one more lesson of the Enron scandal worth pondering.

The New York Times
Don Van Natta and Neela Banerjee
March 1, 2002

Top G.O.P. Donors in Energy Industry Met Cheney Panel

Eighteen of the energy industry's top 25 financial contributors to the Republican Party advised Vice President Dick Cheney's national energy task force last year, according to interviews and election records.

Los Angeles Times
February 28, 2002
Mark Fabiani and Chrisotpher Lehane

Enron Spin Will Define Bush

As they struggle to deal with the incessant developments in the Enron story, President Bush and his advisors undoubtedly are tempted to follow the tried-and-true tactics of the modern political war room: Fight hard to win every news cycle by responding to every new twist and answering every fresh accusation. It is a temptation they must resist.

ariannaonline.com
Arianna Huffington
February 27, 2002

Cheney's War On The Public's Right To Know

The war has moved into a new phase: Walker vs. Cheney. No, it's not John Walker and the War on Terrorism. It's David Walker and the War on the Public's Right to Know. Walker is the comptroller general of the United States. His foe is the vice president of the United States.

The New York Times
Neela Banerjee
February 26, 2002

At Enron, Lavish Excess Often Came Before Success

Everything Enron did had to be better and flashier -- from the new business ventures it unveiled nearly every year to the way it celebrated Secretaries' Day with gifts of Waterford crystal -- and no gesture seemed too lavish, workers and competitors agree.

American Prospect
Chris Mooney
February 25, 2002

Getting Lay: Will Enron's top brass go to jail?

Sometime in mid-January, the worm turned for Enron executives. You could see it in the way George W. Bush raced to distance himself from his friend Kenneth L. Lay, like Prince Hal denouncing Falstaff: "I know thee not, old man. Fall to thy prayers."

The Center for Public Integrity
Charles Lewis
February 25, 2002

Putting the Enron Collapse In Perspective: A Financial and Political Scandal

The unfolding Enron spectacle is a cautionary tale about the fatal quicksand of irrational exuberance and greed, deceit and nondisclosure of pertinent public information, and government officials beholden to powerful private interests.

Roll Call
John Bresnahan and Damon Chappie
February 25, 2002

DeLay Advisers Reaped Enron Windfall

In early 1998, Enron Corp. secured a $750,000 contract for political operatives tied to House Majority Whip Tom DeLay (R-Texas) to secretly conduct an aggressive grassroots campaign pushing energy deregulation, according to documents obtained by Roll Call and interviews with individuals involved with the effort.

Washington Post
Mary McGrory
February 24, 2002

Diffident Oilmen?

The way Dick Cheney tells it, energy tycoons are timid souls, reluctant to give opinions and terrified someone might find out they have been at the White House.

Yellow Times
A.F. Nariman
February 23, 2002

The Enron Skeleton Is Buried Six Feet Under the Bush White House

Republicans are touting that the Bush White House has shown it is "pure" since they did nothing to help a failing Enron when Ken Lay came a calling in October and November 2001. However, by that time Enron was a ticking time bomb, and the Bush folks were wise enough to not touch it with a ten-foot pole.

Washington Post
April Witt
February 23, 2002

Enron Kept After U.S. Regulators

Federal energy regulators met or exchanged phone calls with Enron Corp. executives and lobbyists 25 times during 11 months when Californians endured soaring energy prices and rolling blackouts, according to records released yesterday by Sen. Barbara Boxer (D-Calif.).

Reuters
Susan Cornwell
February 22, 2002

GAO Takes White House to Court Over Energy Task Force

The investigative arm of Congress filed an unprecedented lawsuit against the White House on Friday, demanding to learn the role that energy companies including Enron Corp. played in developing the Bush administration's energy policy.

Salon
Brendan Nyhan
February 21, 2002

Another Bedroom Farce

The Chicago Tribune, USA Today, Fred Barnes and others claim former President Bill Clinton had Ken Lay for a White House sleepover. There's only one problem: They're all wrong.

CBS MarketWatch
Matt Andrejczak
February 20, 2002

Memos Suggest Execs Were Informed

Enron's top executives were more aware of the risks in the one-time energy trader's controversial partnerships than they have previously acknowledged, according to documents released by congressional investigators.

The New York Times
Jim Yardley
February 16, 2002

Letters Show Bush and Lay Shared Much

In more than two dozen letters written from Kenneth L. Lay to then-Gov. George W. Bush, the former Enron chairman lobbied repeatedly for his company's pet issue, electric deregulation, sought the governor's presence at Enron-related functions and sent magazine articles and personal notes.

Read the correspondence at The Smoking Gun and commentary at Slate.

Common Dreams
Huck Gutman
February 15, 2002

Bush's Biggest Donors Had Links to Enron

Enron contributed $736,800 to George W. Bush over the past eight years, his single largest contributor. Many are looking for a smoking gun that will link Enron, directly, to specific favors. They want to see what specific decisions Enron bought. It is possible that such decisions will be uncovered, the evidence supplied. But there are different ways in which influence manifests itself, and not all are direct.

CounterPunch
Joan Claybrook
February 14, 2002

Letter to Florida Gov. Jeb Bush: About You and Enron

Because of the conflicts of interest resulting from your strong ties to Enron and your extensive entanglements with the company, we call for you to recuse yourself from making any decisions or taking any actions relating to these investigations, and from taking an active role in any lawsuits against Enron, Arthur Andersen or other entities related to the Enron collapse.

Foreign Policy in Focus
Jim Lobe and Lora Lumpe
February 14, 2002

An Enron War On Terrorism

If former Enron boss Kenneth Lay were put in charge of the U.S. war on terrorism, he would probably conduct it much the same way his fellow Texas oilman and beneficiary of Enron largesse, George W. Bush, has.

Los Angeles Times
Robert Scheer
February 12, 2002

Enron Flew Under the Radar

Is the Enron story one of outrageous mendacity or stupefying ignorance? As the case unfolds, corporate whistle-blowers emerge to tell of timely but unheeded warnings of accounting chicanery while the company's top executives, some now richly retired and others holding high positions in the Bush administration, assume the posture of the three monkeys of evil innocence. Hear no evil, see no evil, speak no evil.

New York Times
John Dean
February 11, 2002

Cheney Should Stop Stalling

Vice President Dick Cheney's posturing about his energy task force has a familiar ring to someone who served in the Nixon White House. It is the sound of someone who has something to hide.

Common Dreams
Marty Jezer
February 8, 2002

The New Gilded Age

We live in a new Gilded Age with bought politicians and greedy corporate managers. We no longer have a government by and for the people; hell, we donıt even have honest debate.

Newsweek
Eleanor Clift
February 8, 2002

Waiting for the Next Shoe to Drop

Think the White House has been candid about Enron? Think again. To believe Enron got nothing is to believe that all there is to this debacle is what we know now. The experience of the past several weeks suggests a burgeoning scandal with much more to uncover.

The New York Times
Floyd Norris
February 8, 2002

A Tale Told to Congress, Full of Sound but Blurry

Mr. Skilling may not have persuaded many listeners. But he did make it clear to those who are investigating Enron at the Justice Department and the S.E.C. that they will have to work to prove he was aware of anything at all during the period he was running one of America's largest companies.

Dallas Morning News
Wayne Slater
February 7, 2002

Lay's Ties To Bush Go Back Years

Even before George W. Bush became governor in 1994, Enron chairman Kenneth Lay recommended that he put Pat Wood on the agency crucial to Enron's expansion into the energy market in Texas.

Houston Chronicle
Eric Berger
February 6, 2002

Astros Want Out of Naming-Rights Deal

Saying Enron's collapse has "tarnished the reputation of the Houston Astros," the club sought a court order Tuesday to get out of its naming-rights agreement with the company.

Los Angeles Times
Jeff Leeds and Thomas Mulligan
February 6, 2002

Enron Execs Sold Stock as Losses Grew

A handful of senior Enron Corp. executives sold $44 million in company stock while concerns were growing inside the company that losses racked up by a group of obscure partnerships could spill into public view, records show.

The Guardian
Julian Borger
February 6, 2002

White House Love-In Under Pressure

The relationship between the White House and Enron, the doomed energy company, focuses attention on the very ways in which the U.S. is run: the function and dysfunction of twenty-first century capitalism, the interplay between big business and government, and the executive's prerogative to conduct its dealings in secret.

New York Observer
Joe Conason
February 5, 2002

Kenny Boyıs Quiet, With Good Reason

To understand just how diligently George W. Bush protected the interests of Enron and its former chief executive, Kenneth (Kenny Boy) Lay, it is necessary to look back beyond last fall, when the prospect of bankruptcy loomed. The question is not whether Mr. Bush bailed out his old pal under politically impossible circumstances, but what he did for Enron while he still had a free hand.

The Nation
David Corn
February 4, 2002

Bush and Lay: A Common Pattern of Stock Dumps?

Did Bush, one of the captains of Harken, jump that sinking ship because he had inside information the vessel was foundering? The chronology is suspicious. Yet now he is shocked, shocked that his close friend Ken Lay engaged in the same pattern of behavior.

Alternet
Michelle Chihara
February 4, 2002

Enron Kitsch Rakes in Big Bucks on eBay

In the fall, we saw a sudden rush for everything Osama. Bin Laden novelties, from urinal cakes to dart boards to golf balls, sold like hot cakes. But now, in keeping with the ever-more-damning headlines, Enron is fast surpassing "Where's Osama's been Hidin'?" as a theme of the week for memorabilia.

New York Times
Kurt Eichenwald
February 4, 2002

Talk of Crime Grows Louder, Spurred by Report

The report released Saturday evening by a special committee of the Enron Corporation's board clearly raises the specter that at the foundation of the company's downfall was a series of multimillion- dollar crimes, legal experts and former prosecutors said yesterday.

The American Prospect
Sean Wilentz
February 4, 2002

A Scandal For Our Time: Republicans Ruled; Ergo, Enron.

The Enron affair is shaping up as quite possibly the largest political and financial scandal in American history. Untold billions of dollars have vanished down the drain in the biggest bankruptcy filing ever. Political connections ensnare every level of the Bush administration.

Wahington Post
Peter Behr and David S. Hilzenrath
February 3, 2002

Top Executives Blamed in Enron's Fall

Enron Corp. collapsed last fall because of massive failures by its management, board and outside advisers as well as self-enrichment by some employees "in a culture that appears to have encouraged pushing the limits," according to an internal report released yesterday.

New York Times
Frank Rich
February 2, 2002

State of the Enron

I had just finished crying over the tragic news that President Bush's mother-in-law had lost $8,000 on her Enron stock when another heartbreaking story sent me reaching once more for the Kleenex. There on the "Today" show this week was the sobbing figure of Linda Lay, Ken's wife, telling America the most rending tale of dispossession since the Yankees stole Tara from Scarlett O'Hara.

Slate
David Plotz
February 1, 2002

Play the Enron Blame Game!

The blame-passing is enough to whiplash the most seasoned scandal-monger. Who destroyed America's seventh-largest company? Point the finger at your favorite culprit.

Associated Press
Marcy Gordon
February 1, 2002

Enron Chairman Gave List of Favored Names to White House; Bush Named Two as Energy Regulators

A few months after the White House got a list of recommended candidates from former Enron Chairman Kenneth Lay, a friend and backer of President Bush, two of them were appointed to a federal energy commission.

Washington Post
Kathleen Day and Peter Behr
January 31, 2002

Enron Directors Backed Moving Debt Off Books

Members of Enron Corp.'s board of directors received detailed briefings as early as four years ago about the purpose and structure of controversial partnerships whose losses triggered the company's fall into bankruptcy, according to minutes of the meetings.

Common Dreams
Nick Nyhart
January 30, 2002

Post-Enron Lesson: No Private Money for Campaigns

It would cost about $5 to $10 per taxpayer a year to set up a clean money system for Congress -- far less than the $60 billion in shareholder values that just went up in smoke in the Enron case, and probably close to what Enron employees and pensioners lost in their 401k plans.

The New Republic
January 28, 2002

Details, Details

What is it about Enron that makes George W. Bush so careless with the facts?

Newsweek
Jonathan Alter
January 28, 2002

Which Boot Will Drop Next?

From the stimulus fine print to Enron input on top Bush jobs, the storyıs only getting hotter.

San Francisco Chronicle
Russ Feingold
January 27, 2002

No. 1 Reason for Campaign-Finance Reform? Enron

In the case of Enron's collapse, the need to address public mistrust is paramount for Congress and the Bush administration as they investigate alleged wrongdoing.

Los Angeles Times
John Balzar
January 27, 2002

Pipsqueak Politics Isn't the Only Option

You can smell it in the air. Like a fresh Texas oilfield, the partisan sweat glands are pumping. Americans are mad, and somebody better pay for this. I say, bring it on. The time is right for a partisan uproar.

Common Dreams
Russell Mokhiber and Robert Weissman
January 26, 2002

Drip, Drip, Drip: Eroding the Barriers to Corporate Crime

The collapse of Enron is a story far too rich to be reduced to a single story line. But one crucial narrative is how a series of seemingly small and technical decisions purchased in Washington, D.C. eventually combined to enable Enron's implosion -- and how recent and evolving policy decisions are paving the way for future Enron-level disasters.

Reuters
January 26, 2002

White House Changed Draft Plan to Help Enron

The White House apparently changed a draft energy proposal circulated by the State Department last year to add a provision aimed at helping energy-trader Enron Corp. in India, Rep. Henry Waxman says. A week ago Waxman said he had found 17 policies in the White House's May 2001 energy plan, including the India provision, that were either advocated by Enron or benefited Enron.

TomPaine.com
David Corn
January 25, 2002

A Nasty Case Of Enronitis

A new and contagious ailment is spreading through Republican circles; call it "enronitis." This condition, only recently identified, strikes suddenly and brings about a state of discombobulation, causing the afflicted, in the words of one medical expert, "to talk foolishness" when he or she is confronted with questions involving a particular energy company.

Los Angeles Times
Rone Tempest
January 25 2002

With the Theater or PACs, Texans Saw Kenneth Lay as 'On Top of the World'

For all his clout in Washington, Kenneth L. Lay's greatest influence was back home in Texas where the mirror-sheathed Enron headquarters building glimmers above the Houston skyline.The former Enron chief "was a guy with swagger and loot who bought his way into whatever needed buying."

New York Times
Rep. John Dingell
January 24, 2002

Who Helped Cheney?

The vice president's task force called upon the president to propose legislation to deregulate electricity markets further, a position advocated by Enron. The vice president is certainly allowed to agree with a position of one of the president's largest donors, but shouldn't we in Congress and the American public be allowed to know how these proposals were formulated?

Washington Post
Rep. Henry Waxman
January 24, 2002

All Enron Cards on the Table

What offends the White House are the questions I have been asking about Enron's contacts with administration officials. While the investigation into Enron shouldn't be driven by politics, no area -- including Enron's political activities -- should be off limits.

The Data Lounge
C. Barillas
January 23, 2002

Enroning on Empty

The Enron mess threatens to expose the inner workings of an administration that was supposed to save the nation from the moral lapses and compromises of the Clinton era. These were the God-fearing good guys, the grown-ups, the white haired men with faithful and obedient wives who were taking their proper role at the helm of this great nation.

Los Angeles Times
Erwin Chemerinsky
January 23, 2002

Independence Is Essential in Enron Probe

An independent special prosecutor is imperative to investigate possible criminal violations by Enron Corp., its officers and its auditor, Andersen Co. Almost every day reveals new ties between the Bush administration and the failed energy company.

Arianna Online
Arianna Huffington
January 23, 2002

The Evil Ones Here At Home

"I'm worried," the president said in a speech last week, "about the fact that the evil ones hit us and it caused people to lose their jobs." No, he wasn't talking about Enron, but he could have been.

The New York Times
Stephen Labaton
January 23, 2002

1997 Exemption Set Stage for Enron Woes

As it expanded aggressively overseas in the 1990's, the Enron Corporation won an exemption from a Depression-era law that would have prevented its foreign operations from shifting debt off their books and that barred executives from investing in partnerships affiliated with the company.

Los Angeles Times
Robert Scheer
January 22, 2002

Enron Got Its Money's Worth

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 bucks once George W. occupied the White House. That is nonsense.

New York Times
Floyd Norris
January 22, 2002

For Chief, $200 Million Wasn't Quite Enough Cash

Over three years starting in 1999, Kenneth L. Lay has reported receiving more than $200 million either from Enron directly or through exercising stock options. Yet, his lawyer now says, he was forced to borrow millions more from the company last year to meet his obligations.

Newsweek
Allan Sloan
January 21, 2002

Who Killed Enron?

It’s the scariest type of scandal: a total system failure. Executives, lenders, auditors and regulators all managed to look the other way while the company ran amok.

Associated Press
Ron Fournier
January 21, 2002

Bush Advisers Worry Over Enron Scandal

President Bush's advisers, fearing the Enron Corp. bankruptcy controversy could divert attention from his second-year agenda, are debating what to do about a political problem they helped create

The Observer
Ed Vulliamy
January 20, 2002

Enron Spotlight Falls On Cheney

Cheney took office amid concern that he was too close to the energy industry. He left the government of Bush's father to become chairman of Halliburton, the world's biggest oil drilling equipment manufacturer, and later returned to politics declaring a personal fortune worth tens of millions.

New York Times
Frank Rich
January 19, 2002

The United States of Enron

Though the Bush administration has been in office only a year, Enron's oily fingerprints are all over its actions as well as its résumés and stock portfolios. Mr. Lay helped hand-pick the head of the government agency in charge of regulating his own business and stood to gain a $254 million corporate tax rebate in the administration-blessed stimulus bill (despite the fact that Enron used almost 900 offshore "subsidiaries" to avoid paying any income taxes at all in four of the last five years).

TomPaine.com
David Corn
January 18, 2002

The Scandalous Attitude Of The Bush Administration

The reason for letting Enron in the door at 1600 Penn was corporate-political camaraderie that was greased by Enron's past contributions and payments to assorted Bushies. Rather than being granted audiences with Cheneyıs energy team, Enron should have been hauled in before the Securities and Exchange Commission -- and the IRS.

Public Citizen
January 18, 2002

Evidence Indicates That OıNeill Helped Enron Hide Financial Condition

Public Citizen today called on Treasury Secretary Paul O'Neill to explain evidence indicating that he helped Enron continue hiding information about its financial condition and took actions enabling it to funnel potentially billions of dollars belonging to shareholders and employees into offshore tax havens.

Cursor
January 18, 2002

Shaky Family Foundation

What happened in 2001 to $48 million in Enron stock held by the Linda and Ken Lay Family Foundation? The foundation, which reported assets of over $52 million in 2000, is controlled by Kenneth Lay's wife Linda.

The New York Times
Richard Oppel Jr./Jonathan Glater
January 18, 2002

Enron's Chief Sold Shares After Receiving Warning Letter

It was on Aug. 20 and Aug. 21 that Mr. Lay exercised options on 93,620 shares of stock for $2 million. At the time, the shares were worth $3.5 million. Mr. Lay did not report selling the stock, but a lawyer for Enron disclosed earlier this week that some shares had been used to repay a previously undisclosed loan from Enron.

Houston Chronicle
Bennett Roth
January 18, 2002

Congress' Request for Records Fails

The White House rejected congressional requests that it make public information about Vice President Dick Cheney's energy task force that met six times with Enron officials last year.

ariannaonline.com
Arianna Huffington
January 17, 2002

Memo To Washington: We Can Handle The Truth

Kenneth Lay is no longer "Kenny Boy," the man behind half-a-million dollars in Bush donations, who slept at the White House when George I was in office, and has boasted of spending "quality time with George W." Now he is dismissed by the president as merely "a supporter" -- just some guy wearing a Bush button at the inaugural, to which, as it happens, he and his company donated $300,000. As it also happens the president's parents had arrived courtesy of Enron's corporate jet

The New York Times
Bob Herbert
January 17, 2002

Enron and the Gramms

Phil and Wendy Gramm are just convenient symptoms of the problem that has contributed so mightily to the Enron debacle and other major scandals of our time, from the savings and loan disaster to the Firestone tires fiasco. That problem is the obsession with deregulation that has had such a hold on the Republican Party and corporate America.

CBS MarketWatch
David Callaway
January 17, 2002

Enron Scandal: Where is Cheney?

As the Enron scandal expands by the hour, threatening to engulf both houses of Congress and the very investigators that are probing the bankrupt energy giant, one question stands out among the hundreds unanswered: Where is Dick Cheney?

The New York Times
David Cay Johnston
January 17, 2002

Enron Avoided Income Taxes in 4 of 5 Years

Enron paid no income taxes in four of the last five years, using almost 900 subsidiaries in tax-haven countries and other techniques, an analysis of its financial reports to shareholders shows. It was also eligible for $382 million in tax refunds.

Washington Post
Paul Farhi
January 16, 2002

The Essentials Of a Washington Scandal

It's still early, but, yes, it's possible. If everything goes to form, and everyone executes according to the playbook, this one could go all the way: The collapse of Enron Corp. could turn out to be another Incomprehensible Washington Scandal.

Enron
Sherron S. Watkins
January 16, 2002

Letter To Ken Lay, August 24, 2001

"I am incredibly nervous that we will implode in a wave of accounting scandals. I have heard one manager-level employee from the principal investments group say, 'I know it would be devastating to all of us, but I wish we would get caught. We're such a crooked company.'"

Los Angeles Times
Robert Scheer
January 15, 2002

Bush to Lay: What Was Your Name Again?

If you believe President Bush, Kenneth Lay -- one of his top financial backers and his "good friend" -- was merely an equal-opportunity corrupter of our political system, buying off Democrats and Republicans as needed. It is a convenient claim designed to unlink Bush from the biggest bankruptcy in U.S. history

Washington Post
Richard Cohen
January 15, 2002

A Time for Outrage

Journalism, like law or organized crime, lacks the words to express moral outrage. It can only associate, link, note some cause and then its alleged effect. So who called whom and why and when becomes very important. Only in this case, it isn't.

The New York Times
Paul Krugman
January 15, 2002

Crony Capitalism, U.S.A.

In recent months, while political reporters have been busy waving the flag, business reporters have taken the lead in telling us what's really going on. And they seem disgusted by what they see.

MSNBC
January 14, 2002

Enron Employee Warned of Problems

An employee of bankrupt Enron Corp. wrote a letter to the companyıs chairman, Kenneth Lay, in August, warning of accounting problems and a "veil of secrecy" around certain partnerships. "I am incredibly nervous that we will implode in a wave of accounting scandals," the employee prophetically wrote.

Christian Science Monitor
Francine Kiefer
January 14, 2002

GOP Image at Risk in Enron Saga

As probes of White House dealings with firm grow, the perception of cozy ties to business may hurt Bush most. coziness with business, biggest risk may be with voters. For Bush, a big one is that more voters will see him -- and his party -- as too closely aligned with big business.

New York Daily News
Pete Hamill
January 14, 2002

Mr. Enron & His Buddy Mr. President

Not long ago, President Bush was so close to the man that he called him Kenny Boy. His name was Kenneth Lee Lay, and he was smooth in a Texas country club way.

Newsweek January 14, 2002

Lights Out: Enron's Failed Power Play

To George W. Bush, the head of Enron was 'Kenny Boy' -- until now. As the shock waves from the largest bankruptcy in U.S. history shake Washington, the scandal machine is cranking up in search of a White House connection. Let the Enron Wars begin.

The New York Times
January 14, 2002

Andersengate

This affair shows the accounting profession all too often to be in bed with the oldest profession. Accounting standards have been frequently prostituted by the new Uriah Heeps: these are executives in ever-merging firms afraid to challenge their clients' phony numbers and secret self-dealing because they might lose fees in the lucrative consulting business they run on the side.

Chicago Tribune
January 14, 2002
Pressure on Cheney to Disclose

As Enron Corp.'s collapse has mushroomed into a major political issue, pressure appears to be growing on Vice President Dick Cheney to fully disclose the Houston company's role in developing President Bush's energy plan last spring.

Associated Press
Jan. 13, 2002
Lay's August e-mail Noted Faith In Stock

In a pair of e-mails to his employees in August, the chairman of now-bankrupt Enron Corp. touted the company's stock and declared that the Houston-based energy-trading giant's growth "has never been more certain."

Read Lay's e-mails to employees

Palm Beach Post
Sunday, January 13
Enron Eased Way Into FL With Cash

As Enron barreled into Florida in the mid-1990s looking to become one the state's biggest energy players, company officials doled out more than $200,000 in campaign contributions. By December 2001, the company was broke and Florida's $94 billion state pension fund lost more than $300 million after being forced to dump 7.5 million Enron shares.

Time
January 13, 2002
Who's Accountable?

Congressional investigators tell Time that four days before Enron's first public disclosure of its financial woes, an Arthur Andersen attorney e-mailed auditors, directing them to destroy all audit material relating to Enron except for the most basic "work papers."

Newsday
January 13, 2001
They're Busted In Shell Game

John Ashcroft, the attorney general, is about one news story away from being the heavyweight champion of hypocrisy. He recused himself from the Enron case because he took $57,000 from Enron in a political campaign. His hands are so sticky with honey that he can't prosecute the one single solitary largest criminal bankruptcy case in American history.

Chicago Tribune
January 13, 2002
Enron Echoes Past Scandals

Here's a modest proposal to major news media: Accompany every news story about Enron Corp. with a profile of an Enron victim so we don't forget who this scandal is really about.

The New York Times
January 13, 2002
Before Debacle, Enron Insiders Cashed in $1.1 Billion in Shares

As Enron stock climbed and Wall Street was still promoting it, a group of 29 Enron executives and directors began to sell their shares. These insiders received $1.1 billion by selling 17.3 million shares from 1999 through mid-2001, according to court filings based on public records.

Read an interview with Enron shareholders' attorney, William Larch

Common Dreams
January 12, 2002
When In Doubt, Shred It

As for the destruction of documents, let's put it this way -- much of the history of corporate crime and violence in this country has never seen the light of day because of corporate executives who follow closely the advise of corporate counsel -- when in doubt, shred it.

The New York Times
January 12, 2002
Bush and Democrats Disputing Ties to Enron

With the Justice Department and Congress ratcheting up investigations into the Enron Corporation, Bush I, Bush II and Ken Lay at the Houston Astros' home opener in 2000President Bush is seeking to play down his relationship with Enron's embattled chairman, Kenneth L. Lay. But their ties are broad and deep and go back many years, and the relationship has been beneficial to both.

Independent
January 12, 2002
Washington Electrified as 'The Perfect Storm' Breaks Around Bush

When does a scandal become a scandal? In Washington, the answer is easy. When a president starts distancing himself from a corporation in trouble; when senior members of his Cabinet issue carefully worded statements about when they last had contact with its chief executive; and key documents in the case are suddenly found to have disappeared.

Washington Post
January 12, 2002
Hidden Numbers Crushed Enron

At the time, late in 1997, it was the smallest of cracks in Enron Corp.'s sprawling foundation -- a difference of a few million dollars in a $383 million investment partnership whimsically named Chewco, after a character in "Star Wars."

The Idler
January 12, 2002
Harvard Business School's Role in the Enron Scandal

"Jeff" was one of the brightest members of Section A. He often expressed disdain toward any government intervention. One of the natural leaders inside Section A, when he talked, as the commercial said, "Everyone listened."

San Francisco Chronicle
January 11, 2002
Enron's Master of Disaster

Enron employees, whose retirement plans vanished amid the debris of the energy giant's bankruptcy, are quietly pointing federal investigators toward the man they think most responsible for the fiasco: former Chief Executive Officer Jeffrey Skilling.

Center for Public Integrity
January 11, 2002
Fourteen Top Bush Officials Owned Stock in Enron

Fourteen of the top 100 officials in the Bush administration owned stock in embattled energy services firm Enron, according to a Center for Public Integrity analysis of Bush administration personal financial disclosure forms. Their holdings were worth-at the time of their filings-between $284,016 and $886,000.

The New Republic
Ryan Lizza
January 10, 2002

Lay Men

Democrats want to use Enron as a vehicle for a broader indictment of the White House. They hope to link people's perceptions of the company -- a secretive, arrogant, anti-worker institution that hid its cooked budget numbers with good p.r. -- to their perceptions of the Bush administration

CBS MarketWatch
January 10, 2002
Enron is Not Bush's Whitewater; It's Worse

Unlike the financial sideshow over a 20-year-old failed land deal that dogged the Clinton administration, the collapse of the nation's largest energy trader into the nation's largest bankruptcy last month is set to go straight to the heart of exposing what is wrong with the way the Bush administration is conducting itself these days.

The New York Times
January 10, 2002
Joined at the Hip

You'll have to look long and extremely hard to come up with an example of corporate treachery in the United States that's as horrible as the Enron debacle. This is a scandal with a very broad reach and it has some of the wise guys in the Bush administration and other top Republicans trembling in their penny loafers.

screen capture

Center for Public Integrity
January 9, 2002
Enron Executives Who Dumped Stock were Heavy Donors to Bush

From 1999 to 2002, twenty-four top executives and board members at Enron Corp. contributed nearly $800,000 to national political parties, President Bush, members of Congress, and others overseeing investigations of the company for possible securities fraud.

The Capital Times
January 7, 2002
GOP, Enron In Bed But Press Snoozes

A few journalists - admittedly, very few - are asking why their colleagues are giving George W. Bush a "free ride" on the Enron Corp. scandal. If this were Bill Clinton, after all, there would be front-page stories, nasty editorials, ranting columnists and a congressional investigation or two.

San Francisco Chronicle
January 6, 2002
The 401(k) Terrorists

They were the secretaries and bookkeepers and engineers who brought their families to the company picnic every year and drank their morning coffee from company mugs. All the magazines said Enron was one of the best companies in America, so they squeezed 30,000 extra miles from the family car to put aside a bit of every paycheck to buy company stock.

Independent
January 6, 2002
Bush's First Big Scandal Rises From the Ashes of Enron

It may not yet quite be the "cancer on the presidency" of which John Dean warned Richard Nixon in the early days of Watergate. But the collapse of the energy conglomerate Enron is suddenly shaping up as big, big trouble for George Bush.

Wall Street Journal
January 3, 2002
Democrats Try to Make Hay of Enron Fall

In a moment of bipartisan candor, a Republican strategist recently confided to a Democratic friend that if he were in Democrats' place, he would "beat up" the GOP over its ties to the fallen energy giant, Enron Corp.

Alternet
January 2, 2002
Bush's Enron Ties

Shortly after taking office, President Bush waged a battle against the imposition of federal price controls in California that allowed Enron to price-gouge consumers by extending the energy crisis in California, costing the state billions of dollars. Enron reported increased revenues of almost $70 billion from the previous year.

Los Angeles Times
January 2, 2002
Enron Is a Cancer on the Presidency

It's true that the corporation had its allies among the Democrats; campaign finance corruption and influence peddling are generally a cover-all-your-bets bipartisan activity. But in this case, the amounts given to Democrats were puny and late, and there's no doubt that Enron rode to power primarily on the strength of Lay's influence with the Bush family.

The American Prospect
January 1, 2002
The Enron Economy

Enron is the emblem of the Bush administration's way of life. Its demise should also signal the collapse of a whole economic paradigm, in which smart people were traders and those left behind in the outmoded economy were throwbacks who actually made things.

Washington Post
December 25, 2001
Campaign Gifts, Lobbying Built Enron's Power In Washington

During the administration of the first President George Bush, a new party fundraiser named Kenneth L. Lay was invited to spend the night at the White House. The sleepover was an early coup for the chairman of Enron Corp. and a harbinger of things to come.

Los Angeles Times
December 25, 2001
Is Bush Still a Fan?

If you follow George Bush's thinking on how to fix our broken economy, you would throw a few hundred million in tax breaks to his buddies who bankrupted Enron. Not simply because they bankrolled his ascension to the Texas governorship and the White House but, more important, because they are modern alchemists who make money out of nothing.

New York Observer
December 24, 2001
Whitewater Critics Quiet About Enron

While the implosion of Enron is almost as murky as the bankrupt company's financing schemes, its self-dealing and scamming have evoked memories of other great business scandals, such as Teapot Dome and the South Sea Bubble.

CounterPunch
December 21, 2001
Enron's Green Seal

The fall of Enron sounds the death knell for one of the great rackets of the past decade: green seals of approval, whereby some outfit like the Natural Resources Defense Council or the Environmental Defense Fund would issue testimonials to the enviro-conscience and selfless devotion to the public weal of corporations like Enron.

The Globalist
December 21, 2001
The Russian Roots of the Texan Mafia

Just like Russian oil giants, Enron was able to hide losses and mislead investors. Of course, one crucial difference was that Russian companies usually tried to hide profits - in order to keep them from investors and tax authorities. Enron, by contrast, deliberately overstated its profits for a number of years to push up the value of its shares

AlterNet
December 20, 2001
America's Largest Bankruptcy

The demise of Enron leaves us with another huge, ostentatious symbol of the once-vaunted "New Economy." This monster trader of everything from energy futures to advertising space, and producer of very little, went from number seven on the Fortune 500 list of America's largest corporations to a bankrupt failure in a matter of months.

ariannaonline.com
December 19, 2001
The Enron Scandal: Why Was No One Minding The Store?

Where were all these guardians of the public interest when Enron's executives were playing fast and loose with the books while bilking employees and investors out of their life savings? Maybe they were at the bank cashing all those campaign checks doled out by free-spending Enron executives -- or having a free lunch with one of the company's high-powered lobbyists.

Fortune
December 14, 2001
Why Enron Went Bust

Start with arrogance. Add greed, deceit, and financial chicanery. What do you get? A company that wasn't what it was cracked up to be.

The New York Times
December 13, 2001
Enron Tried to Abolish Regulation

Last week the Web site SatireWire.com ran a mock news story: "Enron Admits it's Really Argentina." It was pretty funny, though quite unfair -- unfair, that is, to Argentina.

CorpWatch
December 13, 2001
Enron: Pulling the Plug on the Global Power Broker

On December 4, 2001, Enron filed for bankruptcy. Not long ago Enron was the largest energy trader in the world, the largest natural gas pipeline owner in the country and a pioneering force behind energy deregulation. The move resulted in 4,500 layoffs, or 60% of Enron's workforce at its headquarters in downtown Houston.

Los Angeles Times
December 11, 2001
Connect the Enron Dots to Bush

Enron is Whitewater in spades. This isn't just some rinky-dink land investment like the one dredged up by right-wing enemies to haunt the Clinton White House--but rather it has the makings of the greatest presidential scandal since the Teapot Dome.

San Jose Mercury News
December 7, 2001
Enron's Connections With Bush Go Way Back

Hail and farewell, o Enron! What a flameout. The Establishment media, sucking its collective thumb with unwonted solemnity, is treating us to meditations on two themes: "How the mighty have fallen,'' and, "Who would have thunk it?'' Pardon me while I snort, in lieu of ruder noises, and offer two themes of my own: "What took so long?'' and, "Anyone with an ounce of common sense."

Newsday
December 6, 2001
Enron Situation Points Out Woeful Lack of Pensions

The company was a media darling. Its story line: It would bring a different era to a hidebound industry, delivering it from rusty shackles to the promised land of lean-and-mean competition. The company flew high. Then it crashed calamitously low, taking its workers and retirees, but not its corporate officers, down with it.

The New York Times
December 5, 2001
Enron Workers' Losses a Cautionary Tale for Many Others

When a seemingly profitable enterprise suddenly goes bankrupt, there are surely lessons to be learned. When that enterprise is the most admired company in America, lauded by business theorists as the quintessential 21st-century corporation, one wonders if it is the tip of an iceberg.

ariannaonline.com
December 3, 2001
Enron: Cooking The Books And Buying Protection

The Enron debacle has exposed the dark side of capitalism -- and the unseemly link between money and political influence. Let's hope it also sheds a light on the desperate need for fundamental campaign finance reform.

Alternet
December 3, 2001
The Man Who Screwed the World

Kenneth Lay is living proof that one person can change the world. His company, Enron, may be in shambles. In three months, it may no longer exist. But for the rest of our lives we will live in a world redesigned by Kenneth Lay.

Los Angeles Times
November 30, 2001
Enron Gets Zapped by Its Own Greed

When the stock of energy giant Enron fell to 36 cents per share this week from a high of $84 this year, the market finally accepted the reality that the company -- a middleman whose main business was not producing or delivering power but trading it -- was never really needed.

LA Weekly
November 23, 2001
Enron's End

The nation's biggest electricity marketer in many respects led the energy industry, and America, into deregulation, globalization, the commoditization of essential products. But in the end, Enron has proved to be a house of cards, exaggerating its profits and hiding its debts in off-the-books partnerships.

AlterNet
November 20, 2001
The Fall of Enron

Kenneth Lay basked in the limelight of his corporate success. Indeed, he glowed with an inner confidence that slowly ebbed into arrogance ... then overflowed into raw hubris. He began to think that it was his cock-a-doodle-doo that caused the sun to rise each morning.

Cursor
homepage


Essential Enron

Daily Enron

News Wire

Chronology

Ticker

Annals of Enron

Open Secrets

White House Connections

Administration Stockholders

Appointee Stockholders

Executive Stock Trades

Laura's Stock Tips

Picture This

New Enron Field

Buy Enron Field

Rename Enron Field

Naming Wrongs

Five Easy Panels

The Next Enron?

Kenny Toons

Enron: the musical.

Blame Game

Editorial Cartoons

New Voice Mail Menu

Code of Ethics


Horse's Mouth

Board of Directors

"Our Values"

Press Room

Enron Milestones

Dividend Announcement

Work At Enron

Endron

Global Fallout

Kenneth Lay Speaks

Bush/Lay Letters


2000 Annual Report

Financial Highlights

Financial Review

Letter to Shareholders


Awards

Best Companies

Most Innovative

Horatio Alger

50 Best CEOs

Ten Worst: 2001


Special Sections

Financial Times

Fortune

Houston Chronicle

Bush Watch

CorpWatch

Multinational Monitor


Web Sites

Enron Photo Album

Laydoff

EnronOwnsTheGOP

Enron on e-Bay


Cursor
homepage