The BuzzFlash Mailbag
January 11, 2002
Thanks for your link to Your tar and feathers ready? Mine are. By CRAGG HINES in HoustonChronicle.com. I sent him the following note:
Dear Mr. Hines:
"Ari Fleischer, that simpering twit of a White House spokesman" is the greatest line I've heard recently! The rage I feel whenever seeing him on TV is indescribable.
Maybe now, with the collusion and conspiracy by the gang of thieves at the whitehouse being investigated, there will be a pause in the media's unrelenting chant of Bush's 99% approval rating? Maybe they'll stop telling us how united we all are? Yeah, maybe for about fifteen seconds!
Thanks for the great column.
The article above is linked at the BuzzFlash website. However, buried in the article is the most important info of all. Metallgesellschaft was Germany's 1994 version of Enron, it appears. The hedging debacle was so bad that you can buy a "how not to hedge" book at Amazon titled "Corporate Hedging In Theory And Practice: Lessons from Metallgesellschaft"
I'll say it again - James McMahon, the CFO of Metallgesellschaft, is now the C-F-freaking-O at Enron!! Not only is Mr. McMahon walking around free, he gets to do it again!
The Enron debacle is beginning to look intentional, a huge pyramid scheme design to let a few at the top make billions, literally, and to then have bankruptcy court clean up the rest!
You can find lots of info on Metallgesellschaft with a simple web search.
The other day, CNBC had some prognosticator with a good track record on. His main thing is touting stocks and business sectors that will prosper is 2002. (He did better than anyone else in 2001.) He had 10 picks. His 10th predication threw everyone for a loop-- that Ashcroft would resign from the Bush Administration.
Guests At Governor’s Mansion Added $2.2 Million To Bush Campaign
This article was one from a site on your page, but it is one for the archive. If you have not read this for a while, I would like to suggest you read it again. It makes Clinton/Gore so-called selling the Lincoln bedroom look like choir boys. Of course, Bush takes the offensive and hammers them about the Lincoln bedroom here in this article. On the top right of the page are several links to the actual list and the contributions, plus the dates.
On one of these is Sen. John Ashcroft staying at the Gov mansion and they list him as "considering" running for president. Bet that was the date-April 98- that Bush and he made a deal for him not to run in order to support Bush and Bush would name him to the Cabinet/Attorney Gen, etc. You can just smell all the deals within these sleep-overs.
The timing of Phil Gramm "retiring" and Dick Armey "retiring" is certainly interesting. And then Racicot was appointed to the GOP and "leaves" the Gov office. Looks like he also had to get out while the getting was good! These guys have all known what is coming down the pike re Enron, that is perfectly obvious. And then Ari gets up there saying "We need an investigation." Horse manure. They all knew everything about this. And then Bush as recently as the last economic stimulus bill was trying to give Enron $275 mil and Daschle, bless his heart, became the "obstructionist." I think we need to keep cramming that fact where the sun don't shine.
Did Bush have stock in Enron? I cannot remember if I have seen that fact or not.
on this same site is the response to the Investigative Report on this
page. This is just an excerpt from it. Compare this statement to the list.
Course Clinton could not have anyone visit his home.
What the Repugs do is typical of any liar. What they accuse others of is exactly what they are doing themselves. Never seen it fail. The bigger the liar, the more they point to the other guy.
You already linked to this red herring article http://www.redherring.com/vc/2002/0111/947.html earlier today 1/10 under heading "Carlyle Group will surely benefit..."
LOOK AT 12th PARAGRAPH AND DIRECTLY BELOW WITHIN THIS STORY. The lead
You can run with this one at top of page. Maybe "Papa Bush lobbies Junior on behalf of Carlyle. Military policy towards Korea overturned. Watchdog groups decry improper influence, digging for more info."
A BuzzFlash Reader
BuzzFlash is, without a doubt, the best site on the web. I spend a couple of hours every day on your site.
I enjoyed Jackie Corr's piece on Bill O'Reilly and Vietnam. There is another Bill O'Reilly deception that has always irritated me. O'Reilly calls himself a blue collar guy from a working class background. He likes to talk about his accountant father who made $35,000 per year. Now that is a very modest sum by today's standards. Raising a family on that amount now would be nearly impossible. What O'Reilly conveniently leaves out is that $35,000 in the mid to late 60s was a good piece of change. During that same period I supported my wife and daughter comfortably on just under $10,000 a year. O'Reilly's old man made, in today's dollars, probably in the neighborhood of $150,000 per year. Not exactly blue collar working class. Every word out of that man's mouth is spin.
My dear BuzzFlash...
confused!!!! And I'm not comforted to know that Ashcroft will recuse himself
You posted an article today - Judge declines to freeze profits of Enron officers
Now, you would think these profits would have been frozen before now. All these officers with their millions are still living like royalty whereas so many of their employees and investors are financially devastated.
Little information on Judge Rosenthal:
Judge Rosenthal practiced in Houston with Baker and Botts until her appointment to the bench by Papa Bush. Guest what? Her esteemed law partner was and is the very same James Baker who helped Jr. steal the Presidential election and is presently Papa Bush's partner in the Carlyle Group. If this decision is left in Judge Rosenthals hands, once again the fat cats will come away smelling like roses.
I hope I'm so wrong.
"The Justice Department, which confirmed the investigation of Enron on Wednesday, said ``any and all responsibilities'' that would be handled by Ashcroft in the case would be done instead by Deputy Attorney General Larry Thompson." (Yahoo! News)
And this is supposed to make us feel better? We can trust that a DEPUTY Attorney General for the US Attorney General Ashcroft, who's failed political campaign for Senator was financed by $50k of Enron money and who's boss had a large part of his campaign for not only the Governorship of Texas but the US Presidency financed by Enron, to conduct a thorough and impartial investigation?
After reading that an attorney for Enron was happy about the Justice Department investigating Enron's collapse because it would "bring out the facts," I got the same sickening feeling I had when GW Bush announced that he would petition the US Supreme Court to hear his case for "equal protection" in the Florida re-count affair. And we all know what happened then.
Is it necessary for me to follow the details of this investigation from the beginning to the exoneration of Enron? Republicans are right. We don't need a Special Prosecutor like Kenneth Starr to do what the Right Wing Infiltrated Judicial System is so now capable of doing without political repercussions. The bidding of their masters.
Am I cynical? Gee, I wonder why?
have seen no mention of the fact that D. Stephen Goddard, managing partner
of Arthur Andersen's Houston Office (where the documents were destroyed)
is a Bush "pioneer" who raised over $100,000 for the 2000 campaign.
Andersen's website says, "He has worked with clients in all phases
of the energy industry and his client responsibilities have been with
large multinational energy companies." He also sits on the board
of the George Bush School of Government at Texas A&M. (Guess he learned
paper shredding techniques from
The article BuzzFlash posted from Yahoo News "Auditor Says Documents Gone," it mentions that Anderson has asked John Danforth to investigate. That is like "asking the fox to guard the hen house." He is was the sponsor of Clarence Thomas on the Supreme Court. You might as well ask James Baker.
Thank You for Buzzflash, Kathy
Subj: University of Texas and Enron
This is a December 23, 2001 article. There were two UT deans on board for enron. The other is president of the UT M.D. Anderson Cancer Center and a member of Enron's audit committee. MD Anderson has received almost $600,000 in donations from Enron. Enron donated $3.4 mil to UT the business school and they donated to a Wendy Gramm organization, too.
I think that this is one of the most dangerous trends that the Repubs have established. At least the Religious Right is in the daylight now. This behind the scenes action with our universities is frightening. UT has always had more money than any university in the U.S. It is extremely wealthy, yet their hand was out to Enron for millions. Somehow this seems very unseemly to me.
A BuzzFlash Reader
Check out these cool graphs. It points out when the recession started...looks like around March, 2001:
for Energy's No. 3 Heads Company Faulted On Worker Safety
This article is dated April 25, 2001. Robert Card was up for the number 3 spot at the Dept of Energy. I wonder if he was confirmed. Read the last line below. Might explain why Bush threw out the regs recently re the violations by contractors not being relevant. This company had $725,000 in fines. Some of the worker safety they committed is really criminal. Golden is very close to Denver. Wonder what their drinking water supply contains.
A BuzzFlash Reader
Be the first to use it !!! I can't wait to start throwing <everything>gate at republicans for a change.
Hey you all. Instead of feeling sorry for all those workers who lost all their savings at Enron, we must also feel sorry for poor Jeff Skilling, former CEO, so agonized about Enron, he lost 14 pounds in a short time. Doesn't that just break our hearts that he walked away with $100 million dollars and also lost 14 pounds in agony? And I thought only GW Bush was shallow. Two peas in a pod.
I guess you missed yesterday's WSJ article where the JPMorgan Chase original estimate of Enrons loss, 900m, has ballooned to 2.6b. My guess is that Morgan has decided to write down the energy derivatives. As a former SEC Senior Trial Counsel, I'm betting the cooked books will turn out to be insignificant in comparison to the trading losses caused by the collapse of an aggressively manipulated market. That's probably the reason Morgan declined to bid on the energy unit (and they probably can absorb the losses.) Makes me wonder about Citigroup and the other bidders. The potential trading losses must be much greater than Morgans so they need an aggressive (i.e., manipulated) market to delay writing off worthless derivatives. (see NYT 1/09/02 Enrons Wild Ways, http://www.nytimes.com/aponline/business/AP-Enron-Auction.html).
Enron will be the Junk Bond Scandal, the Savings and Loan Crisis, the Barings Bank debacle and Long Term Capital fiasco rolled into one and my bet is the total fallout will be closer to 2 trillion.
The business model is clearly inappropriate for government. Businesses exist to generate profits for the owners/stockholders; government exists to provide services to its owners (citizens/taxpayers.) To run the Federal government like a business would entail outsourcing national defense to the lowest bidder.
If my memory is correct, wasn't it our Secretary of the Treasury, Paul O'Neill involved with Alcoa? Wasn't it the holding of all those Alcoa shares he had when he took his position in the Administration being questioned. And, he held on for a couple of months longer and because of that, he made like an additional 28 million before he actually sold.
Now that Alcoa is taking a big hit, was just wondering.
God, these guys are like the kiss of death. I could be wrong but maybe would be worth a little investigation.
I really do have to get my 'real work' done or my husband will can me.
If I had time I'd try to research it myself but just thought you guys
might remember.... I'd love to just keep on piling on.....turnabouts fair
Now Anderson accounting firm says they have deleted and destroyed many Enron records and documents.
If any company linked to Democrats did something like this there would probably be a MASS PUBLIC HANGING.
We Democrats need to raise TOTAL HELL about the ENRON SCANDAL and all of the many REPUBLICANS linked to it.
CAH----A REAL Texan who is a Democrat
White House officials said that when they first talked to Mr. Racicot about taking over the Republican National Committee from Gov. James S. Gilmore III of Virginia, they suggested that he stop lobbying and offered a much larger salary than the $150,000 normally given to the chairman.
But, the officials said, Mr. Racicot balked at that offer. One White House official said the party could have paid Mr. Racicot as much as $500,000. He speculated that Mr. Racicot had figured he could make far more as a lobbyist.
Fwd: BUSINESS ALERT: Accounting Firm Destroyed Enron Documents
What was all this about the Rose Law Firm shredding documents? Wasn't that headlines for MONTHS??
Howard Baker earned his place in history with one question, "What
did the President know and when did he know it?"
Subj: Incredible Ari Quote for your links
Read the last paragraph. I cannot believe the balls on this little weasel.
The cowardly Chronicle ran this today inside their second section.
Regulators take aim at Alcoa's Rockdale plant http://www.chron.com/cs/CDA/story.hts/metropolitan/1205609
No mention of Treasury Secretary O'Neill as long-time chairman of Alcoa and, of course, none of Governor dubya.
E-Mail Bill and ask him where he served in Vietnam!
Thank you for publishing this cogent and illuminating piece ('Hell
However, you neglected to mention the financial aid (bribe?) the Duh-Byuh Bush folks gave the Taliban at taxpayers' expense in the early days of the administration--$43,000,000 (that we know about). I think this fact immensely strengthens your argument--astonishing evidence of the Bush crowd's eagerness to curry favor with a terrorist regime. (Can't help being reminded of previous Republican administrations making deals with the enemy--Iran, etc.) The ends seem to justify any means, including treason for these folks.
I think it's also worth mentioning Bush senior's Carlyle Group and their interest in exploiting energy resources in the region. How convenient that they also profit greatly from companies in the defense industry now booming with war profits.
Again, thanks for your article.
Subj: Vice President Dick Cheney
He is back in Albany Ga. this weekend quail hunting again on a plantation. Nice to see he is out of his cave. Thought you might like to know.
That was the most succinct breakdown of what is wrong with the American health insurance system that I have even read.
As a long-term health care provider, I am sick of receiving peanuts form third party insurance adjudicators while the Federal Government funds their enterprises and investments with the Medicare funds, and turns a blind eye to their finances. And all the time these insurance giants are plastering their corporate logos all over sporting arenas,radio/tv ads, and municipalities, while wining and dining those same politicians, who don't pay premiums.
Please keep up the good fight. I believe the sooner the lid is blown off this fiasco, the sooner we will all begin to feel better.
You shouldn't need a cosigner for a health care insurance policy.
RE: "Hell to Pay" http://www.willpitt.com/WillPitt.htm
This is an excellent summary of what could be the two biggest scandals of this administration (and is more than enough to bring it down--the implications are chilling) so I am writing to request that this editorial be given featured placement on your website.
These stories cannot be allowed to be swept under the rug by the administration under the phony "we are at war so it's not important" bull&$%#. I agree with the letter yesterday suggesting the $43 million sent to the Taliban is now highly suspect. It is up to the American people to assure our elected officials treat all of this information seriously and take legal action.
Millions of dollars were spent investigating scandals during the Clinton adminstration that were so petty in comparison with this stuff. Those events neither caused the financial ruin of thousands of citizens nor thousands of deaths. Since the Repugs felt impeachment was appropriate then and set the standard for what is an impeachable offense, then obviously impeachment of the current pResident should not out of the question if these stories prove true.
On a personal note, I sent a donation via snail mail yesterday--I sincerely appreciate your important work. Also, I noticed on the DrudgeReport site they list the number of daily and monthly visitors--it would be cool to know the same info for buzz so we can watch it grow.
Does anyone honestly believe that the Enron mess will honestly stick to
GWB? From the beginning, before the election the information on Bush has
been there, with several honest journalist's screaming the alarms, unfortunately,
not enough honest journalists. We keep saying that Bush has done a great
job in handling the war, how would we know, we can't even get honest reports
out of the Pentagon. Thousands of people have been killed in Afghanistan,
thousands more are dying of starvation and we don't even have any Taliban
leaders in custody, where is the "great job?" We can't find
the anthrax sender, in spite of the fact that it's estimated that only
50 to 100 people in the US had access to that grade of anthrax. He is
directly tied through his father to a company (Carlyle Group) that benefits
enormously from a continued war effort. There is a book out now basically
hinting/accusing GWB of having prior knowledge of WTC, criminals are written
all over his administration, the country is being run like Enron with
Enron calling the shots and you can bet we are headed, in this country
for an "Enron" outcome.
what was on Drudge's site this morning!
FRANCISCO (CBS.MW) - The
Enron Corp. debacle won't be President Bush's Whitewater. It will be much
African-Americans who were one of the largest groups whose votes were disenfranchised during the Presidential 2000 election are back. And they mean for their votes to be COUNTED this second time around!
And they plan to do whatever it takes, to make sure their vote is counted. No road blocks, no broken-down voting equipment, no invalid "felon's lists", etc. will stop them from voting. They are planning a massive national educational campaign to teach everyone, their rights as voters and they plan on voting "en masse". Something that all of us should do, also. As it was not just blacks whose votes were not counted.
The small Ft. Lauderdale AME church where the Election Reform meeting took placed "overflowed" with several folks standing and spilling on to the streets. I was fortunate to get a seat, as I arrived more than an hour before the meeting took placed.
So look out Jeb and Dubya because you WILL be facing one huge and determined voter block - who will NOT be denied their right to vote the both of you "Out of Office"!!
VOTER RIGHTS, BLACKS URGED
Funny how during the 2000 election, Bush made fun of Gore's call to eliminate the internal combustion engine in his book Earth in the Balance. The press had a good laugh and wrote columns about Gore the whacky econut.
Now the Bush administration is working actively with automakers to eliminate the internal combustion engine. No word from the press that this was actually proposed by Gore over a decade ago. It is nice that the Bush administration is finally recognizing some of the better parts of the Gore agenda. If only they would apply that to fiscal policy and tax cuts.
George W. Bush went out last night to raise funds for his brother's reelection campaign in Florida. The tickets cost $500 a piece. Lots of Republican bucks flowed into the Republican trough – and all for Jeb.
Seven Marines and an undisclosed number of passengers had died in a plane crash in Afghanistan that day, but the resident president didn't think such matters should interfere with fundraising for brother Jeb Bush's campaign for reelection as governor. No sirreee – gotta get those bucks so Jebbie can control Florida's elections for a few more years!
No sense of impropriety struck George W. Bush, no sense that the greatest number of military fatalities in a single day in the war in Afghanistan had just occurred, no thought that some of the families of the dead Marines were perhaps just finding out about the deaths of their loved ones. Rescuers had not even been able to reach the scene of the crash to retrieve the bodies of the dead.
But Bush strapped on his tuxedo and went off to smile, dine and fund-raise with his rich Republican pals – all for political gain.
otherwise noted, all original