Enron and Congress

Democracy Now! | Enron: The Bush Connection: "ROBERT BRYCE: Sure. Let me make one point I think that we've missed here. It's not just the Bush administration, as well. I mean, Congress had a hand in allowing Enron to do what it did. Let's look at the case of Phil Graham. Phil Graham was the one who carried legislation that allowed Enron to do a lot of the things it did and avoid federal oversight at the same time that his wife, Wendy, was on Enron’s board.

AMY GOODMAN: Phil Graham, the former Texas senator.

ROBERT BRYCE: Former senator from Texas. So Enron had tremendous power in Congress, as well, that allowed it to operate with a free hand in the energy trading business and to operate really as an unregulated commodities broker, an unregulated commodities exchange.

AMY GOODMAN: Just one second, because I spoke over you. I spoke over you. The former Texas senator Phil Graham's wife, Wendy, say again her role.

ROBERT BRYCE: She was on the board at Enron at the same time that Graham was in the Senate sponsoring legislation that benefited Enron. Not only did Graham not recuse himself, he sponsored legislation that effectively allowed Enron to operate as an unregulated commodities exchange. So, I mean, there's plenty of -- Enron's money corrupted a lot of elements of government, and it wasn’t just the Bush administration. I’m not saying that to excuse the Bush administration, because, I mean, when you look at Enron and you look at the Bush administration, you see the similarities. Both operated with this clear idea that they were going to change the world, that the world was going to follow their new business model and that that was going to change the world forever."