Superb Edit. on ENRON scandal and Bush Admin......

[eagledove]

By Mr. Bartender, Billmon.

I've been saying since 2001 that this was the Rosetta Stone of corruption in the GOP and especially the Bush II Admin. The way Enron was able to donate/corrupt/bribe the U.S. lawmakers (yes, the huge majority are Republicans) into creating a market where there was none (and imo, none needed for very good reasons) is unprecendented. When I first heard of the plans for de-regulating the power industries and then heard almost no one take the issue on, especially about WHY the USA had never done so, I was blown away and more than a little concerned. What I always thought to be a good deal for both sides (the US citizens and mostly the smaller businesses versus the Power Co.s) was soon to be replaced with Privataz...er PROFITization without any real discussion on what could be a reckless endeavor. WTF! The deal as I saw it was:
1.) The Power Co.s are allowed to be limited monopolys. Guaranteed zillions of 24/day customers for life and healthy profits.
2.) The Power Co.s would be lightly regulated by the goverment (by the people?) to make sure they delivered along with other concerns like commerce, public safety, nat'l sec., etc.

Nothing had happened to show that was a bad deal. Nothing. Then came Enron and the rest is history.

I'm comp-semi-literate so 'scuse the crappy link and please read it and tell me what ya' think...

www.billmon.org

[fabius]

1. Excellent article.

Welcome to DU, eagledove. :)

Billmon is one of the best bloggers out there. I'm glad they arrested Lay, but wish we could see Bush and Cheney behind bars. "Cell block W".