Enron has been verbed. Tom Daschle, speaking on the future of Social Security and Medicare, said, "I don't want to Enron the American people. I don't want to see them holding the bag at the end of the day just like Enron employees have held the bag." [via Unknown News]
Exemption Won in 1997 Set Stage for Enron Woes: on an broad exemption to the Investment Company Act which allowed Enron to setup the numerous foreign affiliated companies which have played a part in muddying their finances.
Enron's initial efforts in 1996 to persuade Congress to change the law were thwarted by opposition from a powerful trade group and some federal regulators. The company responded by hiring the former boss of a leading staff official at the Securities and Exchange Commission to represent it in negotiations with the agency. In an unheralded five-paragraph order in March 1997, the S.E.C. official, Barry P. Barbash, gave Enron's foreign operations a broad exemption from the law -- the Investment Company Act of 1940.
The transcript of yesterday's hearing on Enron is available.
The prime-time smearing of Sami Al-Arian: on how the media, in particular the Tampa Tribune and a local shockjock, Bubba the Love Sponge, contributed to the events leading up to Sami Al-Arian's firing from USF. [via Unknown News]