Bear Left!: Special Enron Page
Free, and worth every penny.
Updated as Circumstances Warrant. Last update: 18 December 2002
- The Issues Explained: Enron,
The Guardian, 14 January 2002.
- Enron Probe
from Washington Post.
- Clip 'n' Save Guide
to the Enron Scandal, Wage Slave Journal.
- Understanding Enron,
New York Times.
- In Depth: Enron,
- Enron Timeline,
Houston Chronicle, 17 January 2002.
- Enron Investigation,
The Corporate Library.
- Enron Links Page,
- Bush-Enron Chronology,
Jim Galsyn. This is very exhaustive.
Other useful collections of Enron articles
Blackout, transcript of 5 June 2001 PBS documentary. How Enron was involved in
the Califonia energy "crisis."
- Bush Pioneers, Texans for Public
Justice. Who raised at least $100,000 for GWB? Both Kenneth Lay and
an old boss of one of your Bear-Left editors!
- Enron's Blackout Cuts Power Bshind Numerous Thrones,
Texans for Public Justice, 4 December 2001. Enron's lobbyists and politicians will miss
Enron's money and, for some, Enron's jet planes.
Enron Contributions to Bush, Associated Press, 12 January 2002. Who gave what to
whom, at a glance.
- Enron and Andersen, Center
for Responsive Politics. Who gave what to whom, in gory detail.
- President Bush, Center
for Responsive Politics. Which companies gave the most to Bush-Cheney? Among them are
Enron, Enron's accountant, and Enron's law firm.
- Enron: Key Players,
London Observer, 13 January 2002.
- Enron's Internet Monster,
BBC News, 30 November 2001. By its figures, Enron had the world's largest electronic
commerce web site.
- Behind Enron's Fall,
Fortune. See in particular the 5 March 2001 column,
Is Enron Overpriced?.
- Enron: The Global Gospel of Gas,
Moles.Org. How Enron came to call itself a green company.
- Web of Details Did Enron In as Warnings Went Unheeded,
New York Times. The public image of Enron was much different than the sordid truth.
- Letter Show Bush and Lay Shared Much,
New York Times. George W. Bush and Ken Lay go way back together.
- W's Corporate-Improvement Plan: Breaking with an Enron-ish Past,
The Nation, 14 March 2002. George W. Bush knows all about insider trading: he was a chronic
insider seller (and late filer).
- Bush Campaign Hires Jets from Enron, Halliburton,
Reuters, 3 August 2002. During the 2000 presidential election recount, the Bush campaign hired corporate jets
from several large corporations, including Enron Corp. and Halliburton Co.
- Insider Trades for ENE, yahoo.com.
- EDGAR Filings, Securities and Exchange Commission.
- Enron SEC Filings, at Enron.com.
- Enron e-mail reassuring employees (whilst the bosses collected gains from options).
- Enron 2000 annual report: be sure to read the footnotes.
- Full text of House hearing, 25 January 2002.
- Excerpts from Senate hearing, 25 January 2002.
- How the White House Energy Plan Benefitted Enron, Minority Report of House Government Reform Committee, 16 January 2002.
- FindLaw Investigations - Enron, with more official documents than Jeffrey Skilling can pretend not to know about.
- Federal Energy Regulatory Commission, official documents, including the 6 Decmeber 2000 "smoking gun" memo from Enron's lawyers that proves the Enron and others manipulated the California electricity market.
- Complaint against Andrew Fastow, U.S. v. Fastow.
- Updated Complaint against Fastow, U.S. v. Fastow.
- SEC Complaint against Andrew Fastow, SEC v. Fastow.
- Criminal Information, U.S. v. Kopper.
- SEC Complaint against Michael Kopper, SEC v. Kopper.
- Cooperation Agreement between U.S. and Michael Kopper.
- Thomas White Affair Documents: documents showing Thomas White's active role in Enron's chicanery.
- Thomas White Stock Sales and Enron Contacts, from TheMemoryHole.org.
Enron and India
- The Enron Saga, Enron Action Group.
Details of Enron's machinations in India.
- Letter to Richard Cheney
from Representative Henry Waxman asking for more disclosure of Bush administration
actions regarding Eoron's planned plant in Dabhol.
- NSC Aided Enron's Efforts,
Washington Post, 25 January 2002. The National Security Council acted as a concierge for
Kenneth Lay of Enron and the Indian national security advisor.
- Gallup Poll Results
USA Today, 11 February 2002. USA Today/CNN/Gallup Poll on Enron.
Isn't It Enronic? Dark Enron Humor
The Truly Bizarre
- Exploring a Deal to Offer Sex Videos,
New York Times, 17 January 2002. When its deal with Blockbuster was about to
fall through, Enron tried to make a deal with Penthouse.
- Bird-Dog With Bite,
Washington Post, 29 January 2002. Guess who's auditing the White House books? Andersen!
- Committee Corrspondence,
Senator Billy Tauzin (R-LA), 24 January 2002. In 2002, Tauzin, concerned about accounting, asks Lay for information about stock trades.
The New Republic, 31 January 2002. In 2000, Tauzin, concerned about his corporate donors,
pressures SEC chief Arthur Levitt to let accounting firms do what they want.
- Video Shows Enron Employee Asked if Lay Was on Crack,
Reuters, 30 January 2002. Some Enron employees had their own theories about Ken Lay.
- Secretaries Say Enron Had Them Pose As Traders in 1998,
Dow Jones News Service, 6 February 2002. Enron put up a Potemkin trading floor to
hoodwink outside analysts.
- Biographies of Army Secretary White: now and
It seems that the phrase "Enron Energy Services" no longer adds to a resume.
- W's First Enron Connection,
The Nation, 4 March 2002. George Bush and Enron were involved in at least one oil
well partnership as early as 1987.
- Schuler's Mission at Enron,
Jones Journal, Summer 2001. The ethics professor at the Jones School of Business at
Rice University spent his spring 2001 semester on sabbatical at Enron. We wonder what he learned:
he hasn't piped up so far.
- Enron: the Movie,
The Guardian, 19 March 2002. At least four ventures to make an Enron movie are already off the ground.
- Fastow Points Finger at Enron Officials,
Financial Times, 20 March 2002. When in doubt, blame the lawyers and accountants. They
work for you, so blame them!
- Enron Note Exemplifies How Bush Keeps Things on the Q.T.,
Houston Chronicle, 23 April 2002. A recently released memo from 1997 about pushing for funding from the
Export-Import Bank reinforces just how averse Bush is to creating a permanent record of his politics.
- Under Cheney, Halliburton Altered Policy on Accounting,
New York Times, 22 May 2002. Vice President Dick Cheney certainly could commiserate with Ken Lay about Accounting Trouble.
- How to be a Philanthropist Without Really Trying,
Bear Left!, 30 June 2002. All at once, Andrew Fastow became an instant philanthropist, ripped off Enron, and got a big tax break.
- New House Will be Sold by Fastow,
Houston Chronicle, 30 July 2002. Andrew Fastow will sell the new house he just had built, but he's staying in his home on Southampton Place, the namesake of one of Enron's more infamous partnerships.
- Friends Say Ex-Chief Despairs, Seeking Someone to Believe Him,
New York Times, 22 August 2002. To Jeffrey Skilling, denial is just a river in Egypt.
- Charities Weigh Tainted Donations,
Associated Press, 23 August 2002. Recipients of money from the Fastow Family Foundation now have to decide what to do with their tainted donations.
- Court Freezes ex-Enron CFO's Accounts,
Associated Press, 23 August 2002. A member of Andrew Fastow's family tried to move millions of dollars out of one of his brokerage accounts.
- Cronies in Arms,
New York Times, 17 September 2002. The more we learn about what Thomas White did at Enron, the more egregious is his post as Secretary of the Army.
- Feds Want to See Enron Videotape,
News 2 Houston, 16 December 2002. A humorous videotape from a farewell party for former Enron president Rich Kinder eerily presages the accounting
shenanigans at Enron. And on the tape are George Bush, pere et fils.
Accounting, or lack thereof
- Arthur Andersen Pins Blame on Enron,
The Guardian, 21 January 2002. Andersen's not goign down without a fight.
- Enron's New $5bn Black Hole,
London Observer, 20 January 2002. The unstated losses are worse than previously revealed.
- Arthur Andersen: The Enron Scandal's Other Big Donor,
OpenSecrets.org. The accounting firm Arthur Andersen gave even more money than Enron to
the 2000 Bush-Cheney campaign.
- Andersen Turns to Hartz for Help with Enron Issues,
Holmes Report, 14 January 2002. Andersen has hired a big PR firm to save its bacon.
- Accounting Alchemy,
Newshour with Jim Lehrer, 22 January 2002. How did Enron;s accounting work?
- '99 Deal Failed After Scrutiny of Enron,
New York Times, 27 January 2002. A German utility called off a planned merger with
Enron because it deemed Enron's accounting to be too dodgy.
- Statement No. 760:
Arthur Andersen's policies regarding client files (Arthur Andersen).
- Andersen's Reputation in Shreds,
Los Angeles Times, 30 January 2002. Once the conscience of the accounting industry, Andersen now
exemplifies its dark side.
- Bush and Andersen's Texas Two-Step,
The Nation, 30 January 2002. Andersen was involved when George W. Bush engaged in insider trading
- How Chewco Brought Down an Empire,
Washington Post, 4 February 2002. The 1997 partnership was the beginning of the end of Enron.
- Enron's Doomed "Triumph of Accounting",
New York Times, 4 February 2002. Four entitie called Raptors helped finish Enron off.
- Memo Says Andersen Sought, But Didn't Get, Crucial Data,
New York Times, 7 February 2002. Arthur Andersen auditors did not press Enron executives in 1998
for documents that would have drastically lowered Enron's 1997 earnings.
- Break Up the Corporate Bean-Counters,
The Guardian, 25 March 2002. The Big Five accounting firms are far too cozy with the corporations that they audit.
- Enron Exchange with Qwest Raises Questions,
San Francisco Chronicle, 29 March 2002. Enron and Quest agreed to swap fiber-optic network capacity and services at
exaggerated prices, in an effort to improve each company's financial picture.
- Andersen Reneges, Won't Pay Baptist Foundation Settlement,
Arizona Republic, 29 March 2002. Anderson agreed to pay $217 million to investors duped by a financial scam
blessed by Anderson auditors; but now, Anderson's wholly-owned insurer is crying poor.
- Obstruction Roots Deeper at Anderson, Says Former Partner
New York Times via Houston Chronicle, 21 April 2002. A former partner at Andersen claims that destruction of documents
related to Enron began earlier than prosecutors originally believed.
- Andersen arned Staff About Enron Deal,
Houston Chronicle, 10 May 2002. Andersen partners tried up until the end to hide the truth about Enron.
- Andersen Guilty in Effort to Block Enquiry on Enron,
New York Times, 16 June 2002. Andersen is guilty, and it is qutting the busines s of auditing public companies.
- Andersen Guilty in Enron Case,
BBC News, 16 June 2002. The guilty verdict could be the death knell for the firm.
- Former Officials Say Enron Hid Gains During Crisis in California,
New York Times, 23 June 2002. Enron his up to $1.5 billion of windfall profits in reserves to hide them from public view.
It still went bankrupt.
- Bigger than Enron,
Frontline (PBS), June 2002. Accounting is at the heart of a trouble pervading the American stock markets.
- Half-Baked Bean Counters,
The Observer, 7 July 2002. If you think American accounting is bad, see how bad it is in Britain.
- Enron Masked Loans as Sales, Report Says,
Houston Chronicle, 22 September 2002. The bankruptcy examiner for Enron has described $1.4 billion in asset sales as thinly
disguised loans from a host of investment banks.
- Enron Examiner Raises More Questions,
New York Times, 22 September 2002. Enron reported some transactions as asset sales on its financial statements,
but as loans on its tax returns. Naughty!
- Officials Deny Knowing Enron Woes,
MSNBC.com. Top officials confirmed that they met several times with Enron executives,
but they never discussed anything that the public did not already know.
Bush's First Big Scandal Rises from the Ashes of Enron, The Independent,
6 January 2002. Enron's demise could spell big political trouble.
- The Enron Chain Saw Massacre,
Forbes.com. It's not what we know that's scary, it's the unseen financial monster in the dark.
- Enron: Now the IRS Joins the Hunt,
Business Week, 11 January 2002. The IRS is apparently investigating fraudulent
deductions on Enron tax returns.
Lay Gave More to Bush, Dallas Morning News, 12 January 2002. Despite
claims that Kenneth Lay supported Ann Richards in the 1994 Texas gubernatorial race,
he gave more money to her opponent, George W. Bush.
- Price of Power,
London Observer, 13 January 2002. The White House is entwined deep in
the biggest bankruptcy in US history.
- Who's Accountable?,
Time.com, 13 January 2002. Evidence was shredded and top executives fished for a bailout
as the company imploded.
- Justice Dept. Seeks to
Recruit Enron Insider to Speed Inquiry, Los Angeles Times, 14 January 2002.
The federal government is prepared to offer immunity in exchange for a full and frank
accounting. Isn't that what audits are for?
- Enron "Payoffs" Under Scrutiny,
CBS News, 14 January 2002. Congress will invstigate insider trading at Enron.
- Shaky Family Foundation,
Cursor.org. What happened to the Enron shares held by Kenneth Lay's private foundation?
If they got sold, it's insider trading. If not, then it could be tax fraud.
- The Worst Thing about Enron: Checks and Balances Failed
Washington Post 15 January 2002. Those who should have policed Enron were on the take.
- Enron Avoided Income Tax in 4 of 5 Years,
New York Times, 17 January 2002. Enron used foreign subsidiaries to shelter
most of its income and to collect almost $400 million in tax refunds.
- More Than One Enron Official Warned Company about Growing Crisis,
Salon.com, 18 January 2002. Enron officials knew that their corporate structure was
- Enron's Clout With Bush Came from More than Money,
Bloomberg.com, 18 January 2002. Other donors gave more than Enron, but none seem to have
- Congress Probes Enron Exemption,
MSNBC.com, 21 January 2002. Congress is reviewing an SEC decision from 1993 that
exempted Enron from a great deal of regulation.
- Enron Raised Funds in Private Offering,
Washington Post, 22 January 2002. Enron raised funds from private investors
in ways that created risk for its public shareholders. And its board approved this!
- Enron Evasions, Slate.com, 23 January 2002.
Ari Fleischer teaches lessons in the art of spin.
- In the Belly of the Enron Beast,
Salon.com, 25 January 2002. A former employee in Enron's London office recounts
the decline and fall.
- Many May Be Surprised to Be Enron Investors,
New York Times, 25 January 2002. Enron sold limited partnership interests to
many mutual funds, planning to feed them information not available to Enron stockholders.
- Special-Purposes Vehicles Designed to Control Market, Credit Rating,
Houston Chronicle, 28 January 2002. Enron propped up its stock price thanks to a bevy of dodgy partnerships.
- How to Be an Enron Millionaire,
Salon.com, 29 January 2002. Two Enron executives turned $6,000 into $1,000,000 in a matter of days
by ripping off the company's stockholders.
- Memo Describes Cheney-Enron Links,
San Francisco Chronicle, 30 January 2002.
- Firm Accused of Withholding Data,
Los Angeles Times, 31 January 2002. Enron has kept some documents from an investigating Senate committee.
- Enron's Web of Complex Hedges, Bets,
Los Angeles Times, 31 January 2002. Derivatives, once Enron's claim to fame, may have been its downfall.
- Son and Sister of Enron Chief Secured Deals,
New York Times, 2 February 2002. Self-dealing at Enron extended to the Lay family.
- Astros Want out of Naming Rights Deal,
Houston Chronicle, 6 February 2002. The Astros now claim that Enron has tarnished
their good name.
- Up In Smoke,
Houston Press, 7 February 2002. How Enron bruned investors, with side features on how the
Houston Chronicle turned the other way.
- Hard Money, Strong Arms and "Matrix",
Washington Post, 9 February 2002. Enron's lobbying efforts knew almost no bounds.
- U. S. To Seek Control of Enron Plans,
Washington Post, 11 February 2002. The Department of Labor will try to replace the
administrators of Enron's 401(k) plans, apparently for breach of fiduciary duty.
- Enron Chief Helped Pitch Partnership to State Fund,
San Jose Mercury-News, 11 February 2002. Jeffrey Skilling, personally helped sell at
least one of the partnerships that led to Enron's downfall. He testified to Congress about
his ignorance of those partnerships.
- Asleep at the Switch?,
McNeil-Lehrer NewsHour, 19 February 2002. Why did the media take so long to focus on what
was rotten in the city of Houston?
- DeLay Advisors Reaped Enron Windfall,
Roll Call, 25 February 2002. Eonron paid $750,000 to key advisors of Tom DeLay, the
House Majority Whip, to create an "astroturf"-roots campaign for energy deregulation.
- Army Official Kept Options on Enron Stock Until January,
New York Times, 7 March 2002. Army Secretary Thomas White, contrary to promises to divest all of his Enron holdings,
kept options on 665,000 shares as well as an annuity until January 2002.
- Enron Admits Spending $2.5M on Lobbying,
The Guardian, 8 March 2002. Enron triples its previous calculation of how much
it spent to lobby the Bush administration in 2001.
- Ken Lay's Nest Egg,
Mother Jones, 21 February 2002. Ken Lay has millions of dollars invariable annuity contracts,
where they are safe from any lawsuit.
- Enron: the CSFB Connection,
SmartMoney.com, 11 March 2002. The investment bank Credit Suisse First Boston had
a particularly good relationship with at least one of the Enron off-balance-sheet entities.
- Houston Law Firm Probed in Fall or Enron,
Houston Chronicle, 13 March 2002. Now Vinson and Elkins is feeling the heat.
- Enron: What Dick Cheney Knew,
The Nation, 15 April 2002. When Ken Lay needed someone to speak against caps on wholesale electric prices, or almost
any other kind of help, Dick Cheney was his man.
- Special Grand Jury Zeroes In on Enron Executives,
New York Times, 1 April 2002. Presecutors are looking beyond Arthur Anderson to concentrate on Enron executives, including
current Army Secretary Thomas White.
- Ken Lay Probed for Alleged Insider Trades,
Yahoo! News, 5 April 2002. Prosecutors believe that Ken Lay's stock sales show that he acted in insider knowledge.
- What Was the Heart of Enron Keeps Shrinking,
New York Times, 6 April 2002. Enron's "book" of energy trades, supposedly a collection of assets worth many billions
of dollars, now appears to be worth much less than Enron's Energy trading, supposedly Enron
- Labor Department Questions Enron's Truthfulness,
New York Times, 19 April 2002. Enron is reneging on a agreement to transfer admisnitration of its pension plan to State Street Bank.
- No Shame,
The American Prospect, 23 April 2002. In the Senate, Phil Gramm continues to fight for Enron.
- Enron's Hiring of Bush Adviser Probed by Federal Election Panel,
Bloomberg,com, 23 April 2002. The Federal Election Commission is inevstigating whether Enron
broke any election laws by hiring a Bush advisor as a consultant.
- State GOP Sought Donations From Enron,
Los Angeles Times, 29 April 2002. Even as the State of California investigated price gouging by Enron and
other energy traders, the California Republican Party sought, and got, $50,000 in donations from the company.
- Enron Forced Up California Energy Prices, Documents Show,
New York Times, 7 May 2002. Enron and other energy trading companies took advantage of a tight California electricity
market to constrict supply and reap huge profits. Knock us over with a feather.
- White House Acknowledges More Contacts With Enron,
New York Times, 23 May 2002. The White House has finally admitted what everyone knew, that Enron officials were meeting
all the time with officials in the Bush administration.
- White House-Enron Ties Detailed
Washington Post, 25 May 2002. As Enron Corp. slid toward a bankruptcy filing, top Bush adminsitration officials scrambled
to protect both financial markets and the adminsitration's reputation.
- Enron law Firm Files $26.1-Million Bill,
The Globe and Mail, 15 June 2002. Weil Gotshal & Manges has asked for its work as Enron's bankruptcy counsel.
- Anderson Trial Yields Evidence in Enron's Fall,
New York Times, 17 June 2002. An improper accounting decision that triggered Enron's fall was designed to personally help Andrew Fastow.
- Enron's Ex-CFO Seeks Protection From Lawsuits,
Houston Chronicle, 21 June 2002. Andrew Fastow is the only Enron executive to seek protection from deposition in any criminal proceedings.
- Shocked and Angry: the Prophet Whose Warnings over Wall Street Were Ignored,
The Independent, 1 July 2002. John Kenneth Galbreith takes no satisfaction in being right about Enron and its ilk.
- Drive to Deregulate: GOP Congress Paved the Way for Enron and Other Corporate Misdeeds,
Minority Leader Richard Gephardt, 11 July 2002. Could it be? Democrats actually questioning deregulation and the worship of corporate icons?
- Panel: Banks Were in Bed with Enron,
CBS News, 22 July 2002. Citigroup and J.P. Morgan Chase actively abetted Enron's dodgy accounting, and Citigroup used its methods with other clients.
- Citigroup Said to Mold Deal to Help Enron Skirt Rules,
New York Times, 23 July 2002. Citigroup set up a transaction to help Enron hide debt, and Citigroup knew what it was doing was illegal.
- Bush Faces Storm over "Enron" Judge,
The Observer, 28 July 2002. A controversial choice for an appelate court is accused of favoring big business.
- Merrill Replaced Research Analyst Who Upset Enron,
New York Times, 30 July 2002. Merrill Lynch replaced an analyst because when it downgraded Enron stock, Enron took its investment banking elsewhere.
- Ex-Managers Say Sham Deal Helped Enron,
New York Times, 8 August 2002. Enron, Andersen, and Merrill Lynch concocted a scheme in late 1999 to inflate Enron's earnings through a sham transaction.
Shortly after the quarterly earnings were announced, Enron insiders sold in droves.
- SEC Voices Concern on Merrill-Enron Tie,
New York Times, 10 August 2002. While the SEC has not made Merrill Lynch the subvject of an investigation, it is clearly interested in Merrill's dealings with Enron.
- Agency to Probe Energy Firms,
Weshington Post, 14 August 2002. The FERC will investiaget price fixing by Enron and three other firms in 2000 and 2001.
- Ex-Enron Workers Must Wait for Funds,
Houston Chronicle, 21 August 2002. Enron employees may wait for months or years to get any of the money stolen from their company by its executives.
- Ex-Enron Executive Pleads Guilty,
BBC News, 21 August 2002. Michael Kopper has pleaded guilty to charges of money laundering and wire fraud.
He will repay $12 million of ill-gotten gains and aid prosecutors.
- Feds Target Assets of Enron Principals,
Houston Chronicle, 23 August 2002. The federal government is clsoing the vice on Andrew Fastow and others.
- "Isn't It Disgusting?,
Houston Chronicle, 1 September 2002. The kickbacks and other shady tricks used by Enron's top financial executives have enraged ex-employees.
- Cracking Down on White-Collar Crime,
The Economist, 13 September 2002. Federal prosecutors in Houston indicted three British bankers
of stealing over $7 million from an Enron partnership.
- CEOs May Be Liable for Losses in 401(k)s,
USA Today, 29 September 2002. The federal Department of Labor has agreed with Enron employees than Ken Lay and other
Enron officials may be personally liable for money lost in Enron stock in the Enron 401(k) plan.
- Secret Deal Part of Tangle in Enron Case,
New York Times, 1 October 2002. The securities fraud case against Andrew Fastow implicates Enron as a company
because it secretly backstopped Fastow's partnerships.
- Prosecutors far from Finished,
USA Today, 2 October 2002. The charges against Andrew Fastow may well be precursors to charges against other Enron executives.
- Charges Against Ex-Enron Official Reveal Some Ugly Truths,
New York Times, 3 October 2002. During the years that Enron was the darling of Wall Street, in reality it was horribly mismanaged.
- From Enron Fast Track to Total Derailment,
New York Times, 3 October 2002. Andrew Fastow climbed the corporate ladder quickly, but fell off even faster.
- US Army Secretary Helped Cook Enron's Books,
Scoop, 8 October 2002. While head of Enron's Energy Services Department, Thomas White knew exactly what Enron was (not) doing.
- Enron Loss Major Blow to Law Firm,
Houston Chronicle, 3 November 2002. Without Enron, Vinson & Elkins is suffering.
- Feds Reveal 2 Enron Firms' Energy Scheme,
San Francisco Chronicle, 23 November 2002. Federal energy regulators have confirmed what Dick Chency denied all along.
- Despite Denials, Enron Papers Show Big Profits on Price Bets,
New York Times, 12 December 2002. Enron has long denied that it made money by speculating on natural gas electricity prices, but its own records prove otherwise.
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