Wednesday, December 19, 2001

Do you think that Bush and his junta will pay any political price for his connections with the white-collar criminals at Enron? Remember when Long-Term Capital Management (LTCM) went under and heroic efforts were made to bail it out for the stated reason that the insolvency of LTCM would lead to a ripple effect on the entire U. S. economy due to the fact that LTCM was a party to so many derivative contracts (the disappearance of LTCM supposedly would have led to the insolvency of many of the counter-parties to its derivative contracts)? Enron's main business was just a huge form of derivatives, and Enron's size makes LTCM look completely insignificant. Why aren't we seeing anything in the press about the huge danger to the U. S. economy that will be precipitated by the disappearance of Enron?