The collapse of Enron continues to trickle down on us little people. I must admit that until recently, I had never heard of the so-called Enron Loophole.Keef-O has an excellent report on it here.
The Enron Loophole permitted unregulated electronic trading of oil futures, which led to speculators "gaming" the market by betting on (and agreeing to set) the future price of oil and other commodities without meddlesome Gubbermint interference...Republican Congressman Phil Gramm was instrumental in the lobbying effort that got this provision rammed through Congress and signed by Bill Clinton.
The Loophole, according to many reports, was directly responsible for, among other things, the Californian energy crisis of 2000-2001 (which gave us Gubbiner Ahnold) and the sharp and steady rise in oil prices worldwide.
Phil Gramm is currently a senior economic advisor for John McCain. John McCain, in years that he isn't running for President, has been a staunch supporter of the Enron L-Hole. He changes what he says during election years, a consistent pattern in the Senator's speeches...in 2007, he criticized then-opponent Rudy Giuliani for having "absolutely no foreign policy experience"...yesterday Giuliani-at McCain's request- was publicly defending McCain's proposed policy of endless, unwinnable war...how did Rudy go from "know-nothing" to "expert" in six months?
Congress recently passed the Farm Bill, which includes a provision for closing the Enron L-Hole.
The bill, of course, was vetoed by Bush, with the support of John McCain- the same John McCain who rejects expanding the benefits granted to our veterans by the G.I. Bill as being:"too expensive"...support the troops? He'd rather not do that, it costs too much money...it would be difficult to cut taxes on the Super-Rich and support the troops at the same time and former POW or not, McCain has shown his true colors.
Fortunately, Congress had enough votes to override the Bush veto. It's about time the Limpocrats finally did something, says I.
I'm embarrassed that I once defended McCain's integrity when he was smeared by Karl Rove's machine prior to the 2000 South Carolina primary election.
It turns out that McCain hasn't any integrity whatsoever. A shame.
A vote for McCain is a vote for Phil Gramm and the Enron Legacy.
It's a vote to increase the number of homeless vets .
It's a vote for Five Dollar Gas.
It's a vote for a man who prefaces every third spoken sentence with the meaningless phrase "my friends". That annoying oratory tic might actually piss me off more than his dangerous politics.
Do America a favor. Don't elect John McCain.
10 comments:
...no shit tonto..
your preaching to the choir..
Have you seen "Smartest Guys in the Room"? Worth the watch.
(Think anyone who comes here would vote for McCain?)
Mommy, read me Uncle Allan's public service announcement again!
(giddy hand claps of joy)
JS- sigh...
CW- I've seen excerpts but not the whole thing...what I did see confirmed my worst suspicions and made me realize it's far, far worse than most of us know...those profiteers, in my estimation, are something less than Human.
Hat- Don't read it before bedtime, it's worse than rarebit. Now get back to your vacation! *smiley thingy*
I promise, I promise, I won't vote for McCain. But I think we will see 5 dollar gas by the end of summer.
God, I hate Phil Gramm.
When millions upon millions of Americans decide upon their next leader. I will be hoping that the years of cutbacks in education, the deterioration ofreading levels and the overall malaise that put a truly wonderful country in the hands of incompetant fools; hasn't negatively affected the poulation from the ability to tell shit from shinola.
Well he can pronounce nuclear right.
And that's about the only difference between him and the current President. Well that and a few IQ points (shame he doesn't use them).
You're preachin' to the choir man!
There is just so much skullduggery involved in politics and it all culminates with the Presidential Race, that it makes me believe that the average person will never know who promised what to whom in order to get the job.
How on earth can we ever regain control of OUR Governments..they are a world unto themselves. The coming recession will facilitate all of the corporations passing on their well deserved losses to the average taxpayer. I think that the time has come to OUT the decision makers...they must be held accountable and instead of their neighbours goin' "Ooh there goes Jimmy the CEO, do you know what he's pullin' down this year?"
they should be throwing eggs and jeering him as he gets into his limo in the morning. We should revile these people as if they were paparrazi. Too bad they all cluster in their gilded enclaves and gloat about how much they are stickin' it to the little guy.
I sound like a 19th Century Marxist but I'm not..I would give bonuses to CEOs that actually tried to solve problems...but the bonuses wouldn't be 100X what their workers get...something more valuable...respect.
"Enron: The Smartest Guys in the Room" is a good doc, though a bit dated at this time. Gordon Gecko would be there god.
I am so sick and tired of all the numbnuts who say 'support our troops' and then support the aholes who cut bennies and don't provide the armored vehicles to our troops. Hypocrisy so bad it makes me sick to my stomach.
E- I believe you. It's them I worry about.
NYD- It's been a long time since we got to decide who leads us.
Donn- I know, I know...I sorta miss the days when I could inspire death threats from CAPTAIN ALLCAPS just by slamming BushCo.
Sus- Amen.
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