Enron

The GOP has adopted the Ken Lay principles – that is obfuscation, false statements and feigned innocence. Republicans are obfuscating about the real reason for their opposition to extending unemployment benefits, the way Enron CEO Ken Lay concealed the truth about billions in losses his corporation racked up. more »

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Astonishingly, as Wall Street reform enters its final hours a tired, generic corporate refrain against regulation is gaining traction. As bigwig bankers and their lobbyist brethren fight to defeat tough new rules on derivatives—the crazy casino that brought down AIG—all their sloganeers can come up with is the trite wail that serious rules will send this risky business overseas. more »

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As the House and Senate publicly iron out their differences on Wall Street reform during conference committee, the most important aspect of the overhaul is gaining strength behind the scenes. Sen. Blanche Lincoln, D-Ark., is standing firm on her tough derivatives bill, and continues to garner unlikely allies from within the Federal Reserve as the final vote on the provision approaches. more »

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Few realized it at the time, but Senator Chris Dodd's political career ended on June 12, 2008. more »

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Tent City here I come! more »

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"Get tough" measures can deter unacceptable behavior in the area of white-collar crimes, which are often plotted by emotionless calculation and committed by the very rich (a k a the least economically desperate people in America). And this is why this week's Stoneridge decision by the Supreme Court is so tragic: A major deterrent to Enron-style white-collar crime was crushed right before our very eyes.

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Remember the Enron employees who watched their retirement savings evaporate as the Enron ponzi scheme, chaired by George Bush’s best buddy, “Kenny Boy” Lay, went up in smoke?

The conservative majority on the Supreme Court just told them all: “Drop Dead.” more »

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