zondag 5 december 2010

Threat to Bush in Enron inquiry

In my previous blogs, I dealt with the appeal by Jeffrey Skilling, the former CEO of Enron. In this blog, I will talk about the disputed role of the ex-president George W. Bush and his administration.

Apparently Ken Lay contacted the treasury secretary by the end of October 2001 to propose a bail-out for Enron. This means that the White House probably knew about the problems of the firm before the implosion. It is also a common knowledge that Enron was the greatest financier to Bush’s campaign. And Ken Lay was known to be an old friend of Bush, who called him ‘Kenny Boy’.  It also emerged that former vice-president Dick Cheney met Ken Lay several times in April 2001, Cheney refused to reveal the details of those meetings. Bush and his administration anticipated on the criminal inquiry by the justice department by announcing they were going to review pension rights and corporate disclosure.

The US Congress wanted to take the White House to court for the first time in history but this didn’t worked out. Bush was too powerful, as president he had the power to nominate the judge, of course he chose someone in favor of him. Eventually Bush and his administration weren’t found guilty.  

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