Bush and Ken Lay: Slip Slidin' AwayBy Sam Parry
February 6, 2002
George W. Bush is trying to rewrite the history of his and his family’s relationship with Enron Corp.’s disgraced former Chairman Kenneth Lay. So far, Bush has enjoyed fairly good success as the U.S. news media has largely accepted the White House spin.
But the reality, as established by a wealth of historical record and recent disclosures, is that Lay and Enron were instrumental in Bush’s rise to power – and Bush played an important behind-the-scenes role in advancing Enron’s aggressive deregulation agenda, which helped the energy trader ascend to its lofty perch as the seventh-biggest U.S. company.
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The Bush-Lay relationship helped Enron extend its reach across the globe, with the appearance of a successful company, as it pulled in billions of dollars in investment money from tens of thousands of unwary investors.
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Last year, Vice President Dick Cheney and his energy task force held six secret meetings with Lay and other Enron officials while developing an administration program that contained special favors for Enron. Bush named Lay’s allies to key regulatory positions, such as the Federal Energy Regulatory Commission, which pushed for other pet Enron projects.
Under the direction of Bush’s National Security Council staff, the U.S. government also strong-armed India to acquiesce to Enron’s demands over its troubled Dabhol power plant, which Enron was hoping to sell for $2.3 billion. The NSC’s extraordinary pressure on India continued even after Sept. 11 when Washington needed New Delhi’s support in the war on terrorism and wanted the Indians to quiet their border dispute with neighboring Pakistan.
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