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28-05.-2006, 01:20 PM
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Registered User
Join Date: Aug 2004
Posts: 2,148
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Lay convicted, Bush walks, Ahnold got Lay'd
By Greg Palast
t r u t h o u t | Perspective Thursday 25 May 2006 Don't kid yourself. If you think the conviction of Ken Lay means that George W. Bush is serious about going after corporate bad guys, think again. First, Lay got away with murder - or at least grand larceny. Like Al Capone convicted of failing to file his taxes, Ken Lay, though found guilty of stock fraud, is totally off the hook for his BIG crime: taking down California and Texas consumers for billions through fraud on the power markets. Lay co-convict Jeff Skilling and Enron did not act alone. They connived with a half dozen other power companies and a dozen investment banks to manipulate both the stock market and the electricity market. And though their co-conspirators have now paid $3 billion to settle civil claims, the executives of these other corporations and banks get a walk on criminal charges. Furthermore, to protect our president's boardroom buddies from any additional discomfort, the Bush Justice Department, just days ago, indicted Milberg-Weiss, the law firm that nailed Enron's finance industry partners-in-crime. The timing of the bust of this firm - the top corporation-battling law firm - smacks of political prosecution, and is a signal to Big Business that it's business as usual. Lay and Skilling have to pay up their ill-gotten gains to Enron's stockholders, but what about the $9-plus billion owed to electricity consumers? The Federal Energy Regulatory Commission, Bush's electricity cops, have slapped Enron and its gang of power pirates on the wrist. Could that have something to do with the fact that Ken Lay, in secret chats with Dick Cheney, selected the Commission's chairmen? Team Bush had to throw the public a bone, so they threw us Lay and Skilling for the crime - note - not of ripping off the public, but of ripping off stockholders - the owner class. This limited conviction, and the announcement of only one more indictment - of the crime-busters at Milberg-Weiss - is Team Bush's "all clear!" signal for the sharks to jump back into the power pool. That leaves one question: If Bush's Justice Department let Ken and company keep the California loot, what about that state's own government? If you want to know how Californians' $9 billion went bye-bye, read on... Link and, for more on Bush's Enron lies: Link
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"Bush is the first President to admit to an impeachable offense." - John Dean, former Counsel to the President (Nixon) The aim of big corporations is to separate fools from their money all of the time and ordinary folks from their money most of the time. The rest of us must fend for ourselves. |
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