If Enron isn't a wakeup call, I don't know what it will take.
But then, Ivan Boesky didn't wake us up, either. You remember
Ivan Boesky, Mr. Insider trader, who took money from small investors
and ran laughing all the way to the bank.
on Enron, Taxes and History
Okay, so you don't remember Ivan Boesky. What about the savings
and loan scandal? Seems like the dark ages, doesn't it, but
it was hardly more than a decade ago that taxpayers had to foot
the bill for one of the biggest ripoffs of the public trust
By the way, that one, too, was first cultivated in the hothouse
of Texas, where rented politicians put the watchdogs to sleep
so the predators could make off with the loot. By the time
it was over it cost you and you and you a hundred and fifty
billion dollars. Never again, we said. But never again doesn't
reckon on the ability of money to erase memory. Now comes
Enron, turning Boesky into a piker and the S&L scandal into
You have got to admire Kenneth Lay. This son of a Baptist
preacher understood the power of the collection plate. Every
time a politician passed one, he filled it, until he owned
the right to fleece the flock. Employees, shareholders, pensioners
"Kenny boy," as he's known to friends, ran an equal
opportunity scam. He got you, too, and you and you and you.
Because by the wholesale use of tax dodges, Enron avoided
paying its fair share of operating the Weather Bureau, the
National Park Service, and the War on Terrorism.
Guess who made up the difference? Then, because Congress
allows corporations to pass the cost of executive stock options
on to you, the government turned around and gave Enron a tax
refund...out of your pocket...for taxes it never even paid.
What a system. It's enough to make you long for the dark ages
Tell us what you think.
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