FacebookTwitterGoogle+RedditEmail

Time for Special Counsel in Thomas White Affair

by Joan Claybrook

In testimony last week before the Senate Commerce Committee, Army Secretary Thomas White stated that he has not been contacted by the Federal Energy Regulatory Commission (FERC) about his possible involvement in the manipulation of California’s deregulated energy market while he headed Enron Energy Services. He also confirmed that he has not been contacted by the Securities and Exchange Commission (SEC) about whether he profited from the sale of Enron stock because of insider information.

Given these statements by Mr. White, it does not appear that these regulatory agencies, both headed by appointees of President Bush, are serious about determining whether the Army secretary committed any wrongdoing during his tenure at Enron. We, as many others, are concerned about the diligence with which these agencies are pursuing those corporate leaders whose actions have been called into question during the evolving corporate crime wave.

If the SEC launches an insider trading investigation of Martha Stewart based on the fact that she made one or two phone calls to an insider at ImClone and then sold her 4,000 shares of stock, it seems obvious that if Mr. White had 77 conversations with Enron employees and sold $12 million in stock prior to the company’s collapse, someone should look into it.

In addition, documents have been made public that raise serious questions about whether Enron Energy Services, the Enron unit headed by White between 1998 and 2001, was involved in schemes, with nicknames such as “Fat Boy” and “Get Shorty,” to manipulate California’s deregulated energy markets during an electricity crisis that cost consumers and the state treasury billions of dollars and drove the state’s largest electricity utility into bankruptcy. FERC records show that despite White’s testimony that his Enron division was a retail seller of electricity, Enron Energy Services was registered as a wholesale energy trader and did conduct trades with other Enron units that served to drive up prices.

President Bush should call for, and Attorney General John Ashcroft should appoint, a special counsel to investigate whether White participated in or knew about possibly illegal market manipulation and whether he benefited from stock sales based on insider knowledge or committed any other crimes.

Joan Claybrook is director of Public Citizen.

 

More articles by:
June 28, 2016
Jonathan Cook
The Neoliberal Prison: Brexit Hysteria and the Liberal Mind
Paul Street
Bernie, Bakken, and Electoral Delusion: Letting Rich Guys Ruin Iowa and the World
Anthony DiMaggio
Fatally Flawed: the Bi-Partisan Travesty of American Health Care Reform
Mike King
The “Free State of Jones” in Trump’s America: Freedom Beyond White Imagination
Antonis Vradis
Stop Shedding Tears for the EU Monster: Brexit, the View From the Peloponnese
Omar Kassem
The End of the Atlantic Project: Slamming the Brakes on the Neoliberal Order
Binoy Kampmark
Brexit and the Neoliberal Revolt Against Jeremy Corbyn
Ruth Hopkins
Save Bear Butte: Mecca of the Lakota
Celestino Gusmao
Time to End Impunity for Suharto’’s Crimes in Indonesia and Timor-Leste
Thomas Knapp
SCOTUS: Amply Serving Law Enforcement’s Interests versus Society’s
Manuel E. Yepe
Capitalism is the Opposite of Democracy
Winslow Myers
Up Against the Wall
Chris Ernesto
Bernie’s “Political Revolution” = Vote for Clinton and the Neocons
Stephanie Van Hook
The Time for Silence is Over
Ajamu Nangwaya
Toronto’s Bathhouse Raids: Racialized, Queer Solidarity and Police Violence
June 27, 2016
Robin Hahnel
Brexit: Establishment Freak Out
James Bradley
Omar’s Motive
Gregory Wilpert – Michael Hudson
How Western Military Interventions Shaped the Brexit Vote
Leonard Peltier
41 Years Since Jumping Bull (But 500 Years of Trauma)
Rev. William Alberts
Orlando: the Latest Victim of Radicalizing American Imperialism
Patrick Cockburn
Brexiteers Have Much in Common With Arab Spring Protesters
Franklin Lamb
How 100 Syrians, 200 Russians and 11 Dogs Out-Witted ISIS and Saved Palmyra
John Grant
Omar Mateen: The Answers are All Around Us
Dean Baker
In the Wake of Brexit Will the EU Finally Turn Away From Austerity?
Ralph Nader
The IRS and the Self-Minimization of Congressman Jason Chaffetz
Johan Galtung
Goodbye UK, Goodbye Great Britain: What Next?
Martha Pskowski
Detained in Dilley: Deportation and Asylum in Texas
Binoy Kampmark
Headaches of Empire: Brexit’s Effect on the United States
Dave Lindorff
Honest Election System Needed to Defeat Ruling Elite
Louisa Willcox
Delisting Grizzly Bears to Save the Endangered Species Act?
Jason Holland
The Tragedy of Nothing
Jeffrey St. Clair
Revolution Reconsidered: a Fragment (Guest Starring Bernard Sanders in the Role of Robespierre)
Weekend Edition
June 24, 2016
Friday - Sunday
John Pilger
A Blow for Peace and Democracy: Why the British Said No to Europe
Pepe Escobar
Goodbye to All That: Why the UK Left the EU
Michael Hudson
Revolts of the Debtors: From Socrates to Ibn Khaldun
Andrew Levine
Summer Spectaculars: Prelude to a Tea Party?
Kshama Sawant
Beyond Bernie: Still Not With Her
Mike Whitney
¡Basta Ya, Brussels! British Voters Reject EU Corporate Slavestate
Tariq Ali
Panic in the House: Brexit as Revolt Against the Political Establishment
Paul Street
Miranda, Obama, and Hamilton: an Orwellian Ménage à Trois for the Neoliberal Age
Ellen Brown
The War on Weed is Winding Down, But Will Monsanto Emerge the Winner?
Gary Leupp
Why God Created the Two-Party System
Conn Hallinan
Brexit Vote: a Very British Affair (But Spain May Rock the Continent)
Ruth Fowler
England, My England
Jeffrey St. Clair
Lines Written on the Occasion of Bernie Sanders’ Announcement of His Intention to Vote for Hillary Clinton
FacebookTwitterGoogle+RedditEmail