|
David Broncoccio and Now - Sellouts or Brain Dead
by Don Beck
Thursday, Aug. 18, 2005 at 2:09 AM
In the first five minutes of his show about Enron, he mentioned the BILLIONS (38 to be close) that Enron stole from California alone. Ten minutes later he referred to Enron as the "Bankrupt Energy Giant".
Jeff Skilling stated (rather conspicuously) three times within five minutes in his
Senate Sub-Committee hearing that "Enron was disbursing cash". He was not lying
about that. After de-regulation of the energy industry, Enron didn't need to cook
the books to make it look like they were making money.... as they had been doing for
about a decade. THEY WERE MAKING MONEY........BILLIONS OF DOLLARS.
They suddenly needed to stash the cash away from the IRS, and they did that with
the help of the 4,300 off-shore accounts in the Cayman Islands and elsewhere.
Yes of course, the first several hundred off-shore accounts were established to
hide debt and manufacture a profit when the company was grossing around 2 to
3 billion dollars a year. But when the industry was de-regulated, it was a veritable
gusher of profits that somehow no one talks about or investigates. Enron is still
referred to as the "bankrupt energy giant". With the profits made in the first year
of de-regulation, Enron could have paid it's entire debt portfolio and bought back
it's outstanding stock at '98 prices. But, gee, they didn't decide to do that for some
reason.
This should be enough for all of us to realize that every institution in this country -
the White House, the Justice Dept., the corporate Media, and our Congress is
corrupted to the point that they let these scum bags get away with horrendous
crimes against the people of this country, just like they did with Michael Milken
and his band of thieves in the '80s.
Enron went into bankruptcy because they were stripped of the ability to print
and sell it's stock. Not because they had no money, even if it was all illegally
begotten. But that fact has seemingly been lost in the clouds of the corporate
media coverage, who I now consider Broncoccio a member of. Thanks allot
Dave.
|
