“‘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.”
Category: Politics (2005-2006)
I’ll miss you most of all, scarecrow.
“Some say that if you’re Muslim you can’t be free.” In a piece that’s drawn some controversy — God forbid our newsmedia call out the President when he’s making stuff up — the AP‘s Jennifer Loven scrutinizes Dubya’s rhetorical reliance on straw man arguments. Many find Loven’s piece convincing.
Massive Spoilers.
“These are just slush funds for conservative interest groups…These organizations would not be in existence if not for the federal dollars coming through.” The Post looks into the Dubya’s administration’s social spending priorities, and finds that during Dubya’s tenure the government has “funneled at least $157 million in grants to organizations run by political and ideological allies.” Says Rep. Chet Edwards (D-Tex.): “I believe ultimately this will be seen as one of the largest patronage programs in American history.“
The boys who lied wolf.
Remember “We’ll be greeted as liberators“? How ’bout “I think they’re in the last throes…of the insurgency“? As the administration reaps the dividends of a severe credibility gap on Iraq, Dubya ventures forth once again to tell the nation about all the progress we’re just not seeing over there. “‘I understand people being disheartened when they turn on their TV screen,’ Bush said, adding that ‘nobody likes beheadings’ and other grim images.”
On the Brink?
“No longer does he see Republican government as a source of stability and order. Instead, he presents a nightmarish vision of ideological extremism, catastrophic fiscal irresponsibility, rampant greed and dangerous shortsightedness.” By way of Cliopatria, Columbia provost (and my dissertation advisor) Alan Brinkley takes a look at Kevin Phillips’ new book, American Theocracy for the NYT.
Say it ain’t so, Joe…and Clyde, and Jerome…
(Like I needed to another reason to think less of A-Rod.) By way of my friend Mark, here’s an interesting list of campaign contributions made by sports figures since 1978. Some of the bigger Democratic donors include Hank Aaron, Andre Agassi, Michael Jordan, Robert Kraft, Alonzo Mourning, Bud Selig, Dean Smith, and David Stern. As for athletes buttressing the GOP, they include several football (Troy Aikman, Bobby Bowden, Mike Ditka, Peyton Manning, Roger Staubach) and racing (Mario Andretti, Brian and Bill France, Jeff Gordon, Dale Jarrett, Richard Petty) stars, along with Jerome Bettis, Clyde Drexler, Karl Malone, Lute Olson, Rafael Palmeiro, A-Rod, and Marge Schott.
Blue Monday.
He’s a uniter, not a divider…Watch America turn blue (once again) with contempt over the ineptitude and dishonesty of the Dubya administration, from month to month. (Via Medley.)
Iraq, Year Four.
“If this is not civil war, then God knows what civil war is.” As the war in Iraq enters its fourth year (US casualities) and civil war appears increasingly likely on the ground, Dubya and Cheney trod out the same stale talking points we’ve been hearing since “Mission Accomplished” (while Rummy attempts variations on a theme.) Update: Slate‘s Fred Kaplan surveys the mistakes.
The “Black Room.”
“Placards posted by soldiers at the detention area advised, ‘NO BLOOD, NO FOUL.’ The slogan, as one Defense Department official explained, reflected an adage adopted by Task Force 6-26: ‘If you don’t make them bleed, they can’t prosecute for it.'” In related news, the NY Times exposes more allegations of shameful and disturbing Abu Ghraib-like detainee abuse conducted by “a shadowy military unit known as Task Force 6-26.” “Task Force 6-26 was a creation of the Pentagon’s post-Sept. 11 campaign against terrorism, and it quickly became the model for how the military would gain intelligence and battle insurgents in the future…Military and legal experts say the full breadth of abuses committed by Task Force 6-26 may never be known because of the secrecy surrounding the unit.”
System Errors.
“I wouldn’t classify those changes as major…Between charitable events and fundraising events, there will still be lots of ways to get in front of members [of Congress].” Abramoff, Schmabramoff…The lobbying industry remains unperturbed by the GOP reform bill making its way through the Senate. In related news, the Post delves into both the shady use of campaign treasuries by reps in solid seats and the inner workings of MZM’s lobbying-bribery machine. And, under its well-traveled new leader, the House plans to meet for less than 100 days this year to accommodate reps’ need to beg for money full-time.