hile the Left continue to smear the Bush
administration for the Enron collapse, either for cause or effect, it is
becoming clearer to me that the finger pointers may be the actual
culprits in this whole affair. According to ex-New York
Representative Dan Frisa, the
Clinton's Security and Exchange Commission
sidestepped the law that protects investors from the very abuses
committed by the Enron Corporation.
In 1996, Representative Frisa was on the House Commerce Committee and a
cosponsor of a bill to amend the Investment Company Act of 1940.
The new amendment was passed in 1996 and, according to Frisa, the
amendment's intent is "to impose greater investor protections on the
mutual companies governed by the statue."
Also Representative Frisa indicated while the
House Commerce Committee finalized the bill, "Enron vigorously sought
provisions to enable its growing investment activities to be exempted
from certain prohibitions in the law with regard to foreign investments
and the shifting of debt from its books to the off-shore subsidiaries as
well as from provisions preventing corporate officers from investing in
partnerships related to the company."
Although the House Commerce Committee thought
Enron's provisions were "odd" at the time, they thought nothing of
it. Enron's provisions were ignored and were not included in the
final amendment. However, within a year of enactment, Enron sought
relief from the new law and was granted exemption by the Clinton's
Security and Exchange Commission.
Now, what the hell is that all about? Was there a quid pro quo?
I want to know what the Clintons and the Democrats got in return for their
generosity, and I revert to one of my earlier commentaries, "Clinton does
everything for a reason, and I believe that reason is normally money."
But, you know, the American people will never know because the left-leaning
media is steering public attention away from these types of questions by
drumming up sympathy for the Enron employees who lost millions, maybe even
billions, in their 401k plans, while the Democrats redirect guilt away from
the Clinton administration toward the Bush administration.
It should be obvious to every American the spin
machine is in high gear and the facts in this matter will never be known.
I have no sympathy for those who lost their lifesavings in the collapse of
Enron, because they should have diversified. Any wise investor knows not
to but all his or her eggs in one basket. And more importantly, the
American taxpayer should not bail out these or any other investor who was a
victim of a crime. If Enron or some other entity did committed a crime,
there are legal avenues in which these investors can pursue to obtain justice,
and/or damages. In my view, this is just plain and simple.
I've also heard pundits on television say new laws
should be enacted to protect the investor, but what they fell to realize is such
laws are currently in place. The Enron collapse occurred because the
Clinton administration exempted Enron from these laws four years earlier.
And I say to these pundits, take the blinders off for you can't see where you
Interesting enough, the liberal news network, CNN, even
reported a few weeks ago that Enron only paid income tax once since 1996. This fact alone
should raise a few eyebrows, especially since this is when the Clinton
administration gave Enron the free pass on the new federal law, and possibly a
In any case, this whole thing stinks, and it's not
because people lost their lifesavings. It's because the Clintons are
going to get another bye on their wrongdoings at the expense of the innocent
and the American taxpayer. According to
WorldNetDaily, "Federal overseas
economic-development agencies have financed or underwritten 18 Enron Corp.
projects, exposing U.S. taxpayers to a total of more than $1.73 billion in
potential liability, according to agency officials." Open wide America,
because here comes Billy-boy.
All the while, the mainstream media gleefully
report the Republicans, particularly the Bush administration, received
Enron contributions. However, they neglect to mention Enron gave
$100,000 to the Democratic National Committee and Clinton's re-election
effort in June of 1996, four days before India approved a multi-billion
dollar contract to Enron for an energy project; a matter Bill Clinton
had a say in. Sounds like a quid pro quo to me.
Regardless, Bush has already been blamed for
Bill Clinton's recession, and the Democrats are desperate to find
something on the Republicans, so when November rolls around, they'll
have some dirt to throw. And it won't surprise me that Bush will
be blamed for the fall of Enron. But even if the Democrats aren't
able to pin some sort of improprieties on Bush for Enron, the current
media blitz against Bush should be enough to tarnish the GOP to trick
the America to vote Democrat. And to tell you the truth, watching
all this is truly disheartening. Seeing justice be defied again and
again is enough to completely turn me off of politics, and it's
strengthening my belief that all politicians are self-serving and care
nothing of our country or of her people. And, regretfully, I must
admit the liberals are winning.