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It’s All Good.
Saturday May 27th 2006, 11:08 am
Filed under: Justice,politics,Truth
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This week, Ken Lay was found guilty of all 10 charges against him — covering conspiracy, false statements, securities fraud and bank fraud and Jeffrey Skilling was found guilty of 18 counts of conspiracy, money laundering and securities fraud and one count of insider trading. And there is a certain amount of solace involved in seeing the men at the top of such a destructive racket take responsibility for their actions.

But, somehow I don’t feel served. There is still the matter of the missing 50 billion dollars their trading schemes siphoned out of the California economy. Enron’s culture of cooked books and false reports and insider trading enabled a massive rip off of an entire economy, which was really the death knell for Silicon Valley’s dot com boom.

The conviction of Lay and Skilling is necessary and right. However, it really is just cleaning up the poop after the parade of elephants has gone bye. Is it any wonder that another popular culture phenomenon was tested in California and then spread across the nation and then to the world.

Only this time it’s not Nike’s, it’s exorbitant energy prices.

It was achieved in California by bold face lies and misrepresentations of data regarding the availability of energy supplies. Natural gas lines are full, natural gas lines are shut off, plants were taken off line for maintenance at peak usage times, reports misrepresented critical data. It’s a game, and it can be rigged, and it should always be watched carefully by dispassionate enforcers of fair practices and truthful reporting.

So, Ken and Jeffrey are going to jail. And I’m supposed to feel that “it’s all good”. But, the elephants are still marching and there seems no end in sight to the path out of here, into that new frontier. That frontier where government transparency has been removed. Which is the scariest part of the apparent change in practices that is occurring in our government and their methods of enforcement.

Historically, the dispassionate enforcement of fair practices has meted decades, if not centuries, of economic and technological advancement. Driven by America’s open markets and the worldwide competition that creates. But, that is no longer the case. The government has access to every bit of our personal and business communications. It’s not a far reach to believe those businesses that have close ties to the government also have access to competitors communications. Congressman and CIA officials’ are caught taking bribes, people are pleading guilty and going to jail; while they turn in their accomplishes to lessen their own jail time. So, the list of conspirators grows. Monopolies are forming. Monopolies that serve themselves and serve up the bribes to the congressman and CIA officials.

But it’s all good.
It’s very little and it’s very late.
A gasp of breath for a drowning nation.
A flash of light in an enclosing darkness.
But, it is all good.

1 Comment so far
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Yeah, where’s the 50 Million? Shouldn’t the insiders who profited on this deal be forced to return the money? Where’s the justice for the many victims of this crime? We seriously need to re-regulate business (yes more regulation)with stricter standards, including severe penalties for this kind of misconduct.

I don’t have much faith in this. Just look at history. When the Savings and Loan were deregulated (a word I now deem synonomous with theft) and then collapsed in the 1980’s it ammounted to a 1.4 Trillion dollar tax payer cost, of which we are still paying. Congress allowed deregulation that let S&L owners to lend money to themselves! This was the biggest ripoff, perhaps, in the history of the world. Of the few S&L perpetrators who went to jail, they were given 1/5 of the jail time of an average bank robber… Neil Bush didn’t do a lick of time for his part in the destruction of his S&L.

As a side note, the president (probably on his way out) could give Ken Lay and Jeffery Skiilling a presidential pardon (they certainly have good administration connections) .

Comment by tao 05.29.06 @ 6:32 pm

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