-Caveat Lector-
Nice bit of misdirection - but it's a spit in the bucket compared to GOP
involvement with Enron.
-- ---------------------- -------------- ---- ------ --------------
Planet spins - so do I
neo-sufi wisdom
NEURONAUTIC INSTITUTE on-line: http://home.earthlink.net/~thew
> From: John Wallace <[EMAIL PROTECTED]>
> Reply-To: Conspiracy Theory Research List <[EMAIL PROTECTED]>
> Date: Thu, 21 Feb 2002 07:50:46 -0800
> To: [EMAIL PROTECTED]
> Subject: [CTRL] Clinton helped Enron finance projects abroad
>
> -Caveat Lector-
>
> http://washingtontimes.com/business/20020221-74571848.htm
>
> Clinton helped Enron finance projects abroad
>
> By Patrice Hill
> THE WASHINGTON TIMES
>
> The Clinton administration provided more than $1
> billion in subsidized loans to Enron Corp. projects
> overseas at a time when Enron was contributing nearly
> $2 million to Democratic causes.
>
> Clinton officials refused to finance only one out of
> 20 projects proposed by the energy company between
> 1993 and 2000 to build power plants, natural-gas
> pipelines and other big-ticket energy facilities
> around the world, according to the Export-Import Bank
> and the Overseas Private Investment Corp., the
> agencies that provided the subsidies.
>
> In addition, the administration, which lauded
> Chairman Kenneth L. Lay as an exemplary "corporate
> citizen," granted about $200 million worth of
> insurance against political risks for nine Enron
> projects in such politically volatile areas as
> Argentina, Venezuela and the Gaza Strip, according to
> documents the agencies provided to the Senate Finance
> Committee.
>
> "These projects obviously were a tremendous
> benefit to Enron's operations," said Sen. Charles E.
> Grassley, Iowa Republican and ranking minority member
> of the committee. He noted that the Reagan and Bush
> administrations approved no loans for Enron between
> 1985 and 1992 and provided insurance for only one
> Enron power project in Guatemala in 1992.
>
> The Clinton administration provided three loans
> between 1994 and 1998 to the now-defunct Dabhol power
> project in India. Mr. Clinton's commerce secretary,
> Ron Brown, trumpeted the approval of the Dabhol loans
> on a trade mission to India in 1995, with Mr. Lay by
> his side.
>
> The trip was one of 11 Clinton trade missions
> provided at taxpayer expense for corporate executives
> from Enron and other companies. The U.S. Trade and
> Development Agency, which sponsored the trips, also
> provided $1 million in funding to study Enron energy
> projects in Russia, Eastern Europe and former Soviet
> states.
>
> As congressional committees dig for evidence to
> tie Enron and Mr. Lay to the Bush administration,
> evidence of Mr. Lay's links to the Clinton
> administration are ample and well-documented.
>
> Mr. Lay at times was Mr. Clinton's golf partner
> and slept in the Lincoln Bedroom. Other top Enron
> officials attended the White House's infamous "coffee
> klatches" with Mr. Clinton, according to published
> reports.
>
> Mr. Lay offered a seat on Enron's board of
> directors to Robert E. Rubin, Mr. Clinton's Treasury
> secretary, in 1999 just before he left government, the
> Associated Press reported yesterday. Mr. Rubin tried
> to get Treasury to intervene on behalf of Enron last
> fall when the company credit rating was threatened.
>
> In May 1996, Mr. Clinton lauded Mr. Lay as a good
> "corporate citizen" at a White House event because of
> Enron's enlightened personnel policies, including
> profit-sharing of Enron stock and generous health and
> pension benefits. Enron employees now are suing
> because those benefits are as worthless as the
> bankrupt company's stock.
>
> During the Clinton years, Enron contributed more
> than $1 million to the Democratic Party, including
> $600,000 to the Democatic National Committee,
> according to Federal Election Commission records. Mr.
> Clinton and Vice President Al Gore received
> contributions of $11,000 and $13,750, respectively,
> for their presidential campaigns.
>
> One $100,000 contribution to the DNC was provided
> before India gave final approval to Enron's Dabhol
> project in June 1996. The largest and most expensive
> capital project ever undertaken in India, Dabhol was
> of dubious economic value and never went on line.
>
> The World Bank, on reviewing the project, said it
> was not economically viable and inordinately benefited
> Enron, which was a 65 percent owner. Enron still owes
> $203 million on an Export-Import Bank loan for the
> project, which the bank says is covered by guarantees
> provided by five Indian banks.
>
> Congressional aides said it is not clear what the
> taxpayers' liability will be for that and other loans
> now that Enron is bankrupt. The Export-Import Bank
> said its loans were extended to overseas subsidiaries
> of Enron and not the bankrupt corporation. The
> overseas investment agency said its exposure is
> limited to paying any missed premiums on Enron's
> political risk insurance.
>
> Top Clinton officials lobbied personally to
> obtain Indian state guarantees for the Dabhol project
> after it encountered early problems in 1995. Thomas F.
> "Mack" McLarty, the White House chief of staff, made
> it a top administration priority to keep the project
> from failing. The Bush administration has continued
> efforts to salvage the project.
>
> Clinton Energy Secretary Hazel O'Leary led a
> succession of missions to India, and Mr. Clinton's
> ambassador to India, Frank Wisner, was charged with
> keeping the project afloat. After Mr. Wisner left
> government in 1997, he took a seat on the board of
> directors of a company then controlled by Enron. Mr.
> McLarty also performed work for Enron after leaving
> the administration.
>
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DECLARATION & DISCLAIMER
==========
CTRL is a discussion & informational exchange list. Proselytizing propagandic
screeds are unwelcomed. Substance�not soap-boxing�please! These are
sordid matters and 'conspiracy theory'�with its many half-truths, mis-
directions and outright frauds�is used politically by different groups with
major and minor effects spread throughout the spectrum of time and thought.
That being said, CTRLgives no endorsement to the validity of posts, and
always suggests to readers; be wary of what you read. CTRL gives no
credence to Holocaust denial and nazi's need not apply.
Let us please be civil and as always, Caveat Lector.
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