KO: John McCain's Connection to Big Oil & The Enron Loophole June 18, 2008Soon after Enron's birth as a power supplier in the 1980s, CEO Ken Lay decided he could make more money betting on electricity futures, especially if government regulators didn't stop him from cornering the market and gaming the system.
Under the first President Bush, an obscure agency called the Commodities Future Trading Commission obliged Ken Lay.
The CFTC Chairwoman, Wendy Gramm , left Enron alone.
When Bill Clinton beat Bush, it took only one week before Enron asked Gramm to lock in her "hands off" position as official CFTC policy.
Gramm started the process. The CFTC approved it, after she left on Clinton's inauguration day.
Five weeks later she took a part-time post on Enron's Board of Directors and wound up earning more than $900,000 over the next decade.
Clinton never undid Gramm's changes.
Fast forward to year 2000 and Bush v Gore
In the chaos of constitutional crisis, Enron got a law passed containing what is now known as the Enron loophhole. Where Gramm deregulated individual trades, the Enron loophole deregulated entire markets... ONLINE markets.
Enron had just started it's own ONLINE MARKET...and SET ITS SIGHTS on the STATE of California.
Over the next six months CA suffered 38 rolling blackouts, as Enron used artificial shortages, bogus deals, and total knowledge of the market AS SOLE OWNER OF ITS OWN ONLINE MARKET to TREBLE California's energy bills.
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January 17, 2009
To All California DUers - If you know a blind or disabled person, please check on them starting Feb. 1. The State of California is cutting off all aid to them on that date. They will be without money or caregivers as of that date because California will be out of money.
As long as DLC Bill is writing checks for his "humanitarian" foundation, maybe he can do something humanitarian (and even just!) and re-imburse the State of California the $11Billion his corporatist buddies ("humanitarian" donors to the foundation by any chance?) pilfered from California, so Ken Lay's co-conspirator in defrauding California, Sch*zenegger, the P.O.S. Fraud Governor, can't continue his vulgar sabotage of California governmental programs. Maybe programs for blind and disabled can be restored, and supplemental funding for firemen and cops, so they don't have to dole out DUI's to get their local fundings.
Arnold's Enron Secret -- Greg PalastPosted on October 5, 2003, Printed on June 19, 2008
http://www.alternet.org/story/16902 /
It's not what Arnold Schwarzenegger did to the girls a decade back that should raise an eyebrow. According to a series of memoranda our office obtained today, it's his dalliance with the boys in a hotel room just two years ago that's the real scandal.
The wannabe governor has yet to deny that on May 17, 2001, at the Peninsula Hotel in Los Angeles, he had consensual political intercourse with Enron chieftain Kenneth Lay. Also frolicking with Arnold and Ken was convicted stock swindler Mike Milken.
Now, 34 pages of internal Enron memoranda have just come through this reporter's fax machine that tell all about the tryst between Maria's husband and the corporate con men. It turns out that Schwarzenegger knowingly joined the hush-hush encounter as part of a campaign to sabotage a Davis-Bustamante plan to make Enron and other power pirates then ravaging California pay back the $9 billion in illicit profits they carried off.
Here's the story Arnold doesn't want you to hear. The biggest single threat to Ken Lay and the electricity lords is a private lawsuit filed last year under California's unique Civil Code provision 17200, the "Unfair Business Practices Act." This litigation, heading to trial now in Los Angeles, would make the power companies return the $9 billion they filched from California electricity and gas customers.
It takes real cojones to bring such a suit. Who's the plaintiff taking on the bad guys? Cruz Bustamante, Lieutenant Governor and reluctant leading candidate against Schwarzenegger.
Now follow the action
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I'm bitter that Bill deep-sixed BCCI matters for Poppy in the 90s and we got stuck with Bush2.I'm bitter that there were so many outstanding matters in IranContra and Iraqgate and CIA Drugrunning that needed further scrutiny, but Clinton sided with the secrecy and privilege of Poppy Bush and his cronies and we got stuck with Bush2.
http://consortiumnews.com/2006/111106.htmlI'm bitter that when we had an opportunity to replace Bush2 with an open government Democrat in 2004, Bill Clinton spent his 3 week book tour defending Bush from the attacks leveled against his decisions on Iraq by the left and the Dem nominee, and did so in very public, high profile interviews...and we remained stuck with Bush2.
http://www.cnn.com/2004/US/06/19/clinton.iraq /
I'm bitter that Clinton loyalist James Carville sabotaged Ohio Dem voters with his WITNESSED election night phonecall to the WH and we remained stuck with Bush2.
http://www.tpmcafe.com/blog/coffeehouse/2006/oct/07/did...I'm bitter that after millions of us Dems for years defended Bill Clinton for dropping his pants, Hillary finds the cameras to publicly scold Kerry for dropping a pronoun from a joke. But never found a camera in 7 years to target Bush2.
http://www.youtube.com/watch?v=dk1k0nUWEQgBut......I am using that bitterness to further drive away from power those forces of closed government who have sought to destroy the citizens' right to open and accountable government.
I hope more Democrats are opening their eyes and ears and joining the forces of open government. If we don't do it now, there will likely never be another opportunity to reverse the damage so many decades of closed government has brought to this nation and the world.
Obama2008.