I have been wondering about the rock-headed persistence of that 33 percent of Americans who continue to approve of Bush's performance. In light of all the evidence, how could they continue to hold the Boy Emperor in high regard?
The only conclusion I can reach is that they must have some kind of disease. Let's conduct a mini-diagnosis: Irrational? Lack of memory? Brain-wasting syndrome? Carnivorous? Texan?
Of course, that's it. They must all have vCJD, the human cousin of mad cow disease.
Apparently if you are a Republican, "fuck" is something you say and only rarely do.
Clinton's lack of public obscenity, his mature libido, and his sense of discretion seem so much more adult than the behavior of this kindergarten class we call the Bush administration.
Under an arrangement with Enron's board, Lay could repay his loans from the company with Enron stock. By August 2001, after Jeff Skilling resigned as chief executive, [Joanne] Cortez said she noticed Lay used stock to repay the entire $4 million on the credit line with stock, then borrowed the same amount the next day. The pattern of borrowing and repaying with stock continued into the fall, Cortez said.
"It made me question if this was being used as somewhat of a tool to sell shares," she said.
Bingo. More specifically, Lay was using it to convert his Enron stock into cash, to monetize his holdings, which were falling in value. Normally, a corporate officer would have to report stock sales to the Securities and Exchange Commission, but by selling shares back to the issuer, Lay wasn't required to.
It's a simple system: Borrow $4 million. Repay with a worthless asset whose value is determined by propped-up market perceptions. Repeat day after day after day.
Ken Lay borrowed $77 million and paid it back in Beanie Babies.
Cortez's story is heartbreaking. She kept a secret log of Ken Lay's "transactions," never selling her own Enron stock because she was afraid that her knowledge of Lay's activity constituted her being considered an inside trader.
This happened in 2001, the same year that Ken Lay was having his secret energy policy meetings with the former CEO of Halliburton, Dick Cheney.
Top-down class warfare, at least in its current Republican guise, simultaneously depends upon and crushes the faith and goodwill of ordinary people like Joanne Cortez who are trying to do the right thing, even as their leaders fuck them over sixteen different ways. Nowadays we see it everywhere in the US, but especially in finance, in foreign policy, and in religion.
As the government wound down its case this morning, it left jurors with a taste of the large salaries Lay and Skilling raked in — almost $375 million between them — as the company slipped into bankruptcy.
Skilling earned more than $151.7 million from Enron Corp. from 1999 to 2001, the year he resigned and the company collapsed. He also sold stock for more than $41 million.
In the same three years, Lay earned more than $222.8 million from the company. The indictment spans 1999 through 2001.
Enron employees lose their life savings. Arthur Andersen employees, tens of thousands of them who had nothing to do with Enron, lose their jobs. Institutional portfolios that invest American retirement and pension assets lose billions when Enron goes under.
Meanwhile, Jeff and Kenny Boy grab a quarter-billion dollars each.
Seriously, how much more does anyone need to know?
Fire them both. The MBA president and his poodle made a hash of their little adventure (NYT): "The memo indicates the two leaders envisioned a quick victory and a transition to a new Iraqi government that would be complicated, but manageable. Mr. Bush predicted that it was 'unlikely there would be internecine warfare between the different religious and ethnic groups.' Mr. Blair agreed with that assessment."
Owners walking their pets often resemble one another. When Owner takes a wrong turn, Pet is there to wag its tail in agreement.
