The DeLay-Abramoff era in DC may be a thing of the past, but the investigations into flagrant GOP corruption continue. Now, word leaks out that the Casino Jack probe has targeted another official in Dubya’s Interior: J. Stephen Griles. “Griles was a controversial figure at Interior, strongly criticized by the department’s inspector general for maintaining ties to energy and mining companies that were once his lobbying clients.“
Category: Energy
The bagmen feel neglected.
In related news, as the battle for control of the House tightens, the GOP’s K-Street cronies find they’ve been put on hold to make way for terror terror terror schtick. “This bottleneck has disappointed and angered organizations that have worked closely with the GOP and have won many legislative benefits. Oil and gas producers, for instance, had high hopes of adding to their legislative gains the opening of drilling on the Outer Continental Shelf.“
Lay to Rest.
In a surprising coda to the Enron trial, company founder, presidential confidant, and recently convicted felon Ken Lay died this morning of a heart attack. His dubious legacy: “Enron’s bankruptcy filing cost thousands of workers their jobs, spooked investors into doubting the integrity of the stock market and spurred lawmakers to enact the most significant changes to corporate practices in more than 70 years.“
Lay Down / The Skilling Moon.
“‘Enron is one of the great frauds in American business history,’ said James Post, a professor of management at Boston University. ‘But it is also a symbol of a particular era of management practice.’” In a strange confluence of ill omens for the current administration, a jury finds finds Enron heads Ken Lay and Jeff Skilling guilty on multiple counts of conspiracy, wire fraud, and securities fraud, with sentencing set for 9/11. For their part, Lay and Skilling immediately began talking appeal, but perhaps that’ll be unnecessary. After all, surely “Kenny-Boy” can wrangle a pardon from his boy Dubya, particularly after he spent all that time crafting Dubya’s energy policy.
Alternative Energy Source.
“‘We need lower gas prices and energy independence. Republican leaders have proposed the same old solution: drill, drill, drill. But drill, drill, drill is not going to deliver the results we need.'” The Dems pitch their energy plan, which would “revoke subsidies for the oil industry, increase subsidies for the renewable fuels industry and restore aid to low-income Americans struggling to pay energy bills…But the Democrats, who do not control crucial committees or the schedule that brings legislation to the floor, appear to have scant hope of passing their proposals.” Update: The Post has more.
Speaking Truthiness to Power.
“I believe that the government that governs best is a government that governs least, and by these standards we have set up a fabulous government in Iraq.” In a must-watch (or at least must-read) event, the inimitable Stephen Colbert took it to Dubya hard at last night’s White House Correspondent’s dinner, and Bush, according to press reports, was not amused. Great stuff throughout:
* “I believe in pulling yourself up by your own bootstraps. I believe it is possible — I saw this guy do it once in Cirque du Soleil. It was magical. And though I am a committed Christian, I believe that everyone has the right to their own religion, be it Hindu, Jewish or Muslim. I believe our infinite paths to accepting Jesus Christ as your personal savior.“
* “Now, I know there’s some polls out there saying this man has a 32% approval rating. But guys like us, we don’t pay attention to the polls. We know that polls are just a collection of statistics that reflect what people are thinking in ‘reality.’ And reality has a well-known liberal bias…Sir pay no attention to the people who say the glass is half empty, because 32% means it’s 2/3 empty. There’s still some liquid in that glass is my point, but I wouldn’t drink it. The last third is usually backwash.“
* “I stand by this man. I stand by this man because he stands for things. Not only for things, he stands on things. Things like aircraft carriers and rubble and recently flooded city squares. And that sends a strong message, that no matter what happens to America, she will always rebound with the most powerfully staged photo ops in the world.“
* “I’m sorry, but this reading initiative. I’ve never been a fan of books. I don’t trust them. They’re all fact, no heart. I mean, they’re elitist telling us what is or isn’t true, what did or didn’t happen. What’s Britannica to tell me the Panama Canal was built in 1914. If I want to say it was built in 1941, that’s my right as an American. I’m with the president, let history decide what did or did not happen. The greatest thing about this man is he’s steady. You know where he stands. He believes the same thing Wednesday, that he believed on Monday, no matter what happened Tuesday.“
* “But the rest of you, what are you thinking, reporting on N.S.A. wiretapping or secret prisons in Eastern Europe? Those things are secret for a very important reason, they’re superdepressing. And if that’s your goal, well, misery accomplished. Over the last five years you people were so good over tax cuts, W.M.D. intelligence, the effect of global warming. We Americans didn’t want to know, and you had the courtesy not to try to find out. Those were good times, as far as we knew.“
* “But, listen, let’s review the rules. Here’s how it works. The President makes decisions, he’s the decider. The Press Secretary announces those decisions, and you people of the press type those decisions down. Make, announce, type. Put them through a spell check and go home. Get to know your family again. Make love to your wife. Write that novel you got kicking around in your head. You know, the one about the intrepid Washington reporter with the courage to stand up to the administration. You know, fiction.“
* “I mean, nothing satisfies you. Everybody asks for personnel changes. So the White House has personnel changes. Then you write they’re just rearranging the deck chairs on the Titanic. First of all, that is a terrible metaphor. This administration is not sinking. This administration is soaring. If anything, they are rearranging the deck chairs on the Hindenburg.“
* “See who we’ve got here tonight. General Mowsly, Air Force Chief of Staff. General Peter Pace. They still support Rumsfeld. You guys aren’t retired yet, right? Right, they still support Rumsfeld.“
* “Jesse Jackson is here. I had him on the show. Very interesting and challenging interview. You can ask him anything, but he’s going to say what he wants at the pace that he wants. It’s like boxing a glacier. Enjoy that metaphor, because your grandchildren will have no idea what a glacier is.” (Note: YouTube has smaller clips, too.)
Tiger in the Tank?
“Nobody’s happy with gasoline prices being where they are.” As GOP congressional leaders experience buyer’s remorse over the oil industry tax breaks they passed last year, Jacob Weisberg (who, it should be noted, could take the Metro to work if so desired) argues the virtues of more expensive gasoline: “To be sure, oil at $70 a barrel causes hardships for working people and delights some of the world’s worst dictators. But cheap gasoline imposes its own costs on society: greenhouse gas emissions, air pollution and its attendant health risks, traffic congestion, and accidents…Sustained high prices will bring about behavioral and political changes: energy conservation, public transportation, less exurban sprawl, and eventually the economic viability of alternative fuel sources such as biomass, fuel cells, wind, and solar power, which may one day undermine the power of the oil oligarchs. Are politicians too stupid to understand this, or just smart enough not to say it aloud?“
Gouge Away.
Feeling the heat from his nose-diving poll numbers (and spurred by GOP congressional leaders’ desperate pleas for political cover), Dubya announces a probe into high oil prices (and sings the praises of ethanol like it was a week before the Iowa primary.) Ok, but if our oilman–president (who, to be fair, failed at both callings) really wants to get the bottom of the situation, it’d be nice if he’d look into not only oil company price-gouging but also exactly what went on at Cheney’s infamous Energy Task Force meetings…
The Raptors Bite Back.
“‘We rely on those transactions,’ Mr. Lay said during the September meeting, according to Mr. Glisan. ‘They are imperative for us to hit our numbers and we will continue to do them.‘” Prosecutors begin to wrap up their case in the Enron trial with the testimony of former Enron treasurer Ben Glisan, Jr., who is currently serving a five-year prison term for his part in the fraud. (He created Enron’s “Raptors,” “four fragile financial structures…used to house assets and investments and to hide losses.”) According to the NYT, he “provided some of the strongest testimony against Mr. Lay heard by the jury so far.”
Enron’s End Run.
“Fastow, in a nervous but steady voice, spent most of his first six hours on the stand describing quid pro quo deals he arranged with Jeffrey K. Skilling, then Enron’s chief executive. He said Skilling was so obsessed with making the company look good for Wall Street that Skilling approved of sham deals that helped the company meet its earnings targets while Fastow…personally skimmed millions of dollars off the transactions.” Following last week’s damning testimony by Kevin Hannon (“They’re on to us“), former Enron Chief Financial Officer Andrew Fastow took the stand yesterday as part of a plea deal. The prosecution’s star witness in the Enron case, Fastow is “also prosecutors’ most personally tainted witness, a man who admitted to stealing and involving his wife in fraud and who described himself Tuesday as sometimes ‘obnoxious’ and ‘opportunistic.’” Sounds like he was in good company. Update: On Day 2, Fastow implicates Ken Lay, and the defense sharpen their knives.