Enron & the Moron

 

       

    In this sad, selfish and violent era of the moron and the Republican Party's toadies on the Supreme Court's overthrow of the American electoral system, there are many lessons to be learned by any nation which, in the future, decides to improve upon our obviously failed attempt at a democratic form of government.  One of the major areas that they will find that needs a complete overhaul if their experiment is to succeed is in the area of the bribery of candidates to elective offices and the damage that nearly always ensues from that corruption.

    History will show that the Rabid Right's sick love affair with the "privatization" of the American government and the "deregulation" of vital industries were complete and utter failures.  The reason, it will be learned (we can only hope) is that the sluts in the suites truly don't give a damn about the American people or even their own employees.  All, and I mean the entire spectrum of the world centers around profits and more profits. 

    In just the last two decades, we have been witness to the privatization of all security duties in airports and on airlines with the result that thousands of Americans had to die.  The reason was simple, employees of these "security" companies were badly trained if at all and received unbelievable small wages because the corporations don't care how many Americans die, just how many "dead presidents" that they can steal before the deaths begin.

    We've seen the FDA lose so much funding that they have begun accepting industry research on the effects and dangers to Americans from the same corporations that manufacture the drugs.  As a result, more Americans are dying needlessly while the industry spends two dollars on advertising for every dollar spent on research.

    The latest failure of deregulation comes from one the largest corporations whose bribery of state and national officials made them the little moron's closest "friends".  I'm speaking, of course, about Enron Corp.

    As those of you who have kept up on the news of this massive expansion and almost instantaneous bankruptcy of Enron knows, it had played a huge part in California's failed but continuing effort at deregulating the energy markets.  They, and by "they" I mean the sluts in the suites as well as their chattel in Sacramento and Washington, D.C., took one of the most efficient and secure energy systems in the world and have created an expensive and unreliable mess.

        Enron's CEO, Kenneth L. Lay took two small natural gas companies and created Enron.  He then, in 1989, proceeded to use his access to the government in Washington to buy all the representation he needed in order to change the law and deregulate the wholesale gas markets.  Naturally, this resulted in huge price swings to the consumer in a new bazaar in which new levels of middlemen made fortunes and the customer paid higher energy costs.

    Lay then used his money to purchase the needed representation for the deregulation of wholesale electrical markets in 1992. 

    In 1996, Lay again used his wealth and access to government to convince California to begin the absolute fiasco of deregulation of electrical markets, a move that once again created a few very wealthy middlemen but has resulted in electrical costs to most consumers that is over three times the per kilowatt charges than before deregulation.  Nevertheless, by 1997 Enron had become the nation's largest trader of natural gas and wholesale electricity.

    After years of playing golf with Clinton and having employing the relatives of luminaries like Wendy Gramm, wife of Sen. Phil Gram of Texas, former Secretary of State James Baker, former Secretary of Commerce Robert Mosbacher, Lay had all the access he needed to accomplish his dreams.  Nevertheless, he also became a hugely successful fundraiser for both daddy and baby Bush in their search for the Oval office.

    In fact, Lay, had bought Bush and Chaney so well that he sat, with Chaney, on the committee that created the petroleum industry's wet dream of an "energy policy" that guarantees the industry a stranglehold on the energy markets while strangling any hopes for alternative energy markets.  For Lay, it only took $5.8 million in bribes to see a return on investment of billions of dollars.

    The use of allegedly illegal accounting practices resulted in the company's inability to pay creditors, causing the corporation to declare bankruptcy on Dec. 2, 2001.

    But the tale of bribery and favoritism doesn't end here.  The sluts in the suites weren't quite done screwing the American public when they began to focus on screwing their own employees. 

    Enron's employees were able to invest in 401(k) retirement packages.  They were encouraged to fill those retirement funds with Enron's own stocks, a move that seem to make sense at the time since shares of Enron were selling for $90.56 just sixteen months before the company declared bankruptcy with share value down to an amazing 60 cents a share.

    Even with the stock values dropping, though, all would seem to be alright with the sluts in the suites as well as the employee's 401(k) plans.  All the employees had to do was to sell their stocks before they became virtually worthless and replace them with shares from a more stable corporation.  That's all they had to do except for a truly evil little move by the highest level executives at Enron.  These true sluts blocked the 401(k) plans from selling any Enron stocks at the same time that the sluts were busy selling off not only their shares but casing in on deferred stock purchases.  By the time that the employees were allowed to sell, the value was stock less, in some instances, than the cost of making the trades through the 401(k) brokers.

    So, once again we are witness to the Republican vision of economic Nirvana.  A corporation takes advantage of the access that it's millions of dollars in bribes have allowed it and creates a series of company policies and exploits that results in the creation of billions of dollars in profits.  Once the nature of those policies become known to the public and that discovery results in the value of its stocks dropping like a rock, the already filthy rich sluts in the suites simply block the real human beings in the company's employ from cashing in and protecting their investments.  Meanwhile, these vile little creatures sell off all of their holding in their own corporation while there is still some small profit to be realized.  In other words, the sluts used their power to screw their employees, their creditors and their retired employees while ensuring for themselves as much money as possible.

    Now, along comes the little moron who must now answer the question as to why the government hadn't seen this debacle coming a mile off and to exactly what his and Chaney's roles in the entire affair might be.  The moron's answer?  First he promised that, "There will be a lot of government inquiry into Enron and what took place there."  As to the tens of thousands of now destitute employees that were screwed by one of his largest source of bribery funds?  "I'm deeply concerned about the citizens of Houston who worked for Enron, who lost life savings."

    Notice two things, if you will.  The moron explicitly does not go into any detail about what form that "government inquiry" will take.  Will there be Senate committees empowered to investigate and, if possible, indict any executive found to have broken SEC and federal and state laws in the mishandling of the corporate financial records?  Will Lay and the highest executive levels of Enron be held financially responsible for the fiasco and what form will the punishment take should they be found guilty of criminal conduct?

    Second, you will note the moron's overt omission of any federal help for those thousands of Americans who are now both unemployed and whose hard won reti8rement funds now equal absolute squat?  Will he propose legislation that will force companies to guarantee that access to all 401(k) funds will be open to employees no matter what the financial condition of the company might be?  Perhaps legislation that ensures that all employees are allowed to sell their stock holdings before the executives can get in line behind them?  If the executives sell out before the news of a company's financial condition becomes public, can they be criminally charged with insider trading?

    You and I both know that the employees of Enron are now and forever, if you'll excuse the expression, completely and utterly shit out of luck.  Their retirement plans are gone and no one will ever be held responsible for their disappearance.  Lay will become the CEO of some other corporation where he will screw the employees just as happily then as now.  The other executives will move into new jobs here and there and will never see themselves as the vermin that they truly are.  The employees, of course, will be living hand to mouth if they're lucky and will be homeless if they're not.

    This is just another example of the horrors that nearly always occur whenever too much money held by someone with too little sense is allowed to purchase politicians with absolutely no honesty or morals.  Few were terribly enriched while many were damaged beyond belief.

    Gentle readers, this is the Republican's version of the American Dream.  This story will fade from memory and the executives will slowly melt into the corporate world, once again.  The Republicans in government will continue to destroy every single social programs that this nation once offered to the most helpless and hopeless among us.  They will continue their sick and deranged love affair with mere money and their absolute hatred of those who cannot afford to purchase their disloyalty to the rest of the American people.

    This will not prove to be an isolated incident, take my word for it.  More and more corporations will be falling apart from the criminal mismanagement that the past "booming economy" hid from shareholders and the public alike.  Mark my words, as more and more corporations fail, the moron will mouth more and more clichés about his "concern" for the public while chipping away further and further at every social net that once was available for the rest of us.  It isn't going to get any prettier than this, no matter what the deceived members of this rather stupid generation want to believe.  ( 1 & 2 & 3 & 4 ).



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Copyright 12/31/01