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Friday, Feb 01, 2002

waxing and waning

"BUZZFLASH: As a congressman, what do you think are the most important goals of the various Congressional investigations into Enron and the energy panel?

CONGRESSMAN WAXMAN: Our focus on the Enron issue has to be to evaluate how a small group of insiders, many of whom were well-connected politically, were able to loot the Enron Corporation and walk away with over a billion dollars, while at the same time, leaving employees and investors robbed of their financial security. I think Congress needs to know how it happened and why it happened, and who helped allow it to happen. And I don't think an investigation of the Enron debacle should only be on some narrow aspects of the Enron issue. I think it ought to be on the accounting practices at Enron, and their political ties. And nothing ought to be taken off the table. We ought to have a thorough and systematic examination of every aspect of this Enron scandal. I do believe it is a scandal because I believe that those who were the insiders in the Enron Corporation schemed to loot the company of over a billion dollars. And they hurt a lot of people in the process. I think that if you look at what happened at Enron, you have those who already had a lot, wanting a lot more. And they just took it at the expense of people who really didn't have much going for them. It's no different than somebody robbing thousands of houses and stealing people's life savings, when you look at what some of these people did in Enron, where they looted the corporation and stole the financial security out from under employees and investors."