August 14, 2002

Bush Admin Remains Silent on Kenny-Boy Lay, Army Sec. Thomas White.

Investigators found evidence of price manipulation and deceit by Enron as the energy trader aggressively sought to profit from California's volatile power markets, a Federal Energy Regulatory Commission report said Tuesday. The staff recommended the commission pursue "possible misconduct" charges against three Enron affiliate companies and two investor-owned utilities that did business with Enron.

But California Gov. Gray Davis called the preliminary report "a whitewash pure and simple" and said he was puzzled that FERC has taken two years to finally launch a formal investigation into misconduct that he and other state officials have long complained about.

FERC still "hasn't sanctioned anybody, it hasn't issued any refunds to us, it's done nothing to stop the manipulation which everyone agrees occurred here in California," said Davis.

Meanwhile, in a related story, several former Enron Corp. insiders who earned a combined $25 million in the year before the company crashed are asking for millions more in severance pay.

"In San Francisco Dick Cheney vowed he'd fight corporate fraud, and to prove it he punched himself in the face." - Leno

"President Bush says he smokes a cigar on rare occasions 'to help him think.' That is a rare occasion." - Leno again.

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