ENRON'S Wendy L. Gramm
FIRSTROW, FROM LEFT, Ken L. Harrison, John A. Urquhart, Robert A. Belfer, Norman P. Blake, Jr., Robert K. Jaedicke, Ronnie C. Chan, Jeffrey K. Skilling, Kenneth L. Lay and Wendy L. Gramm. Second Row, from left, Bruce G. Willison, John H. Duncan, Joe H. Foy, Charls E. Walker, John Wakeham, Jerome J. Meyer, Herbert S. Winokur, Jr. and Charles A LeMaistre.
Wendy L. Gramm, director and audit committee member: Sold 10,256 shares for $276,912.
ENRON: Wendy L. Gramm:
Wendy Gramm and Bush officials to Enron fiasco, Ca
Sat Jan 26 17:28:50 2002
Wendy Gramm and Bush officials to Enron fiasco, California crisis
After Enron Corp. used its vast web of political connections to win December 2000
passage of commodities trading legislation that helped the company shield its energy
trading activities from government scrutiny, Californias energy crisis suddenly took a
dramatic turn for the worse as artificial supply shortages led to frequent rolling
blackouts, according to a new Public Citizen report released Friday.
The legislation reducing government oversight of energy trading was muscled through
Congress without a Senate committee hearing with the aid of U.S. Sen. Phil Gramm
of Texas. Gramm was chairman of the Senate Banking Committee, which had
jurisdiction over the legislation he co-sponsored, but he chose to bypass his committee,
and the bill was quietly tacked onto a "must-pass" appropriations bill late in the session.
Gramms wife, Wendy Gramm, also aided Enrons rise to power. As chairwoman of the
Commodity Futures Trading Commission, she pushed through a key regulatory exemption
on Jan. 14, 1993, just as she was about to leave office. Five weeks later, she joined
Enrons board of directors, where she served on the boards audit committee and had
access to key financial information about the company.
To read the entire press release, click here.
To read the report, Blind Faith: How Deregulation and Enron's Influence Over
Government Looted Billions from Americans, click here.
Secretary of Treasury Paul O'Neill, left, and President Bush are under
fire about contacts with Enron CEO Ken Lay.
Information for Former Enron Employees Affected by Chapter 11 Filing
In June 1996, four days before India granted final approval to Enron's
controversial $3 billion power-plant project, Enron's gave $100,000 to
President Clinton's party.
Enron denies that its gift was repayment for Clinton's attention, and
White House special counsel Lanny Davis says McLarty acted out of concern
for a major U.S. investment overseas, TIME's Michael Weisskopf reported.
Dr. Wendy Lee Gramm
Director, Regulatory Studies Program &
Distinguished Senior Fellow
Called "the Margaret Thatcher of financial regulation" by the Wall Street Journal (Nov. 12, 1999 editorial), Dr. Wendy Lee Gramm holds a B.A. degree from
(1966) and a Ph. D. (1971) from Wellesley College , both in Economics. She has an extensive publication record including articles in the American Economic Review and the Journal of Law and Economics. Northwestern University
Before joining the
, Gramm served as Chairman of the U.S. Commodity Futures Trading Commission from 1988-1993. She was Administrator for Information and Regulatory Affairs at the Office of Management and Budget from 1985-1988, the Executive Director of the Presidential Task Force on Regulatory Relief, and Director of the Federal Trade Commissions Bureau of Economics. Gramm was on the research staff of the Institute for Defense Analyses. She started her economics career at Mercatus Center , where she taught economics for over 8 years. Texas A&M University
Statement of Dr. Wendy L. Gramm, Distinguished Senior Fellow
Director, Public Interest Comment Program
James Buchanan Center for Political Economy
George Mason University
On Financial Derivatives Supervisory Improvement Act of 1998
Before the Committee on Banking and Financial
S. House of Representatives Services
July 17, 1998
Mr. Chairman and Members of the Committee: Thank you for inviting me to testify on the "Financial Derivatives Supervisory Improvement Act of 1998" (H.R. 4062) and related issues. As former Chairman of the Commodity Futures Trading Commission (CFTC), I am interested in both the agency and its actions. Furthermore, many of the issues you are addressing relate to policies, regulations, and legislation that were developed or written when I was Chairman.
Dr. Gramm holds a B.A. degree from
and a Ph.D. degree from Wellesley College , both in economics. She served as Chairman of the U.S. Commodity Futures Trading Commission from 1988-1993. She was Administrator for Information and Regulatory Affairs at the White House Office of Management and Budget from 1985-1988, the Executive Director of the Presidential Task Force on Regulatory Relief, and Director of the Federal Trade Commission's Bureau of Economics. Dr. Gramm began her professional career at Northwestern University in 1970 as Assistant Professor of Economics. She was promoted to Associate Professor in 1974 and also served as the Director of Undergraduate Programs for the Economics Department. Dr. Gramm was born in Texas A&M University in 1945 and is married to the Honorable U.S. Senator Phil Gramm of Hawaii . The Gramms have two sons. Texas
Wendy L. Gramm
The following is the
More Than Forty Prominent Economists Urge Supreme Court to Allow EPA to Consider Costs and Consequences of Clean Air Regulations. (PDF file). Kenneth J. Arrow, Elizabeth E. Bailey, William J. Baumol, Jagdish Bhagwati, Michael J. Boskin, David F. Bradford, Robert W. Crandall, Maureen L. Cropper, Christopher DeMuth, George C. Eads, Milton Friedman, John D. Graham, Wendy L. Gramm, Robert W. Hahn, Paul L. Joskow, Alfred E. Kahn, Paul R. Krugman, Lester B. Lave, Robert E. Litan, Randall Lutter, Paul W. MacAvoy, Paul W. McCracken, James C. Miller III, William A. Niskanen, William D. Nordhaus, Wallace E. Oates, Peter Passell, Sam Peltzman, Paul R. Portney, Alice M. Rivlin, Milton Russell, Richard L. Schmalensee, Charles L. Schultze, V. Kerry Smith, Robert M. Solow, Robert N. Stavins, Joseph E. Stiglitz, Laura D'Andrea Tyson, W. Kip Viscusi, Murray L. Weidenbaum, Janet L. Yellen and Richard J. Zeckhauser. Brief 00-01. July 2000. Abstract.
Gramm's Wife on
Why is Sen. Phil Gramm so interested in legalizing Mexicans?
He is married to Dr. Wendy Lee Gramm, former chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush.
And she is on the Board of Directors of one of the largest employers of illegal aliens in
- Iowa Beef Packers.!!!!! America
DIRECTORS ELECTED AT IBP ANNUAL MEETING
Dakota Dunes, South Dakota April 20, 2000 Nine directors were elected to one-year terms today at IBP's annual meeting, company officials reported. Those elected to serve on the company's board of directors include Robert L. Peterson, IBP chairman and chief executive officer; Richard L. Bond, IBP president and chief operating officer; Eugene D. Leman, IBP president fresh meats; John S. Chalsty, chairman of Donaldson, Lufkin & Jenrette, Inc.; Dr. Wendy L. Gramm, former chairman of the Commodity Futures Trading Commission; John J. Jacobson, president of TransAm Trucking, Inc.; Dr. Martin A. Massengale, president emeritus of the University of Nebraska; Michael L. Sanem, self-employed cattle feeder and private investor; and Joann R. Smith, former assistant secretary of the U.S. Department of Agriculture. More than 98% of the shares voted were in favor of their election to the board. The company also reported that more than 91% of the shares voted approved the fiscal year 2000 performance-based bonus program of the chairman and chief executive officer; the president and chief operating officer; and the chief executive officer of Foodbrands America, Inc. Foodbrands, one of three IBP operating companies, is involved in the production of value-added foods products.
IBP is the world's leading producer of high quality fresh beef and pork, and supplies premium, fully prepared meats and other consumer-ready foods for the retail and foodservice industries. The company employs more than 49,000 people.
Contact: Gary Mickelson, IBP Public Affairs Department 605-235-2986 email: firstname.lastname@example.org email: mailto:email@example.com
Also See: Anti-immigration groups slam amnesty plan (WorldNet Daily - 1-18-01)
Also See: IBP Agrees to be acquired by Tyson
Phil Gramm's Skeleton Closet
Click on the allegation of your choice:
- Savings & Loan Scandal
- Helped get a convicted drug dealer out of jail
- Laundered Illegal Campaign Contributions to Bob Packwood
- Funded a Sleazy Movie -- - Draft Dodger
- Petty Abuses of Power: illegal hunting, getting staffer out of the army
- Character -- - Quotes -- - Sources
-------------------------------------------------------------------------------------------------------------COMMISSIONERS' TERMS OF OFFICE
(listed by each five-year term)
Wendy L. Gramm
(oriental-descent Wendy L. Gramm, then head of the
Commodity Futures Trading Commission) U.S.
and THE AMERICAN PRESIDENTIAL ELECTIONS Part One CHINA
The Riady/American CIA dope cash also reportedly benefitted, Tyson Chickens; J.B. Hunt Truck Lines, heavily transporting from Arkansas to a Chicago suburb; Wal-Mart discount store chain; and Beverly Enterprises, the reputedly highly corrupt nursing home chain. That truck line reportedly on occasion transports contraband, such as narcotics. Illinois state transportation regulators, however, know better than to dare stop and check their trucks. Other truck lines, not J.B. Hunt, are harassed and shaken-down for pay-offs for purporting to have "overweight" trucks.
A terminus point for the Riady/Lippo/Red Chinese Secret Police/American CIA dope cash has been for several decades, the
Mercantile Exchange. Five currency and commodity brokers have traded with use of this river of narcotics money, without filing reports, required by the U.S. Treasury, of cash intake over ten thousand dollars. The brokers knew, know, and have known, that the cash came in great part through the Red Chinese and reportedly the Riady Family, for the purpose of corruptly influencing Chicago Presidential Elections. In violation of Federal regulatory rules, they did not conduct "due diligence", to accurately determine who their "clients" were. But they had plenty good reasons to already know. U.S.
Clinton as presidential candidate, and as president, often came to the Chicago Mercantile Exchange, to supposedly give a "speech". Funny thing, if the monopoly press even mentioned he was at the "Merc" as it is called, which was seldom; they never mentioned what his speech there was all about.
came to the "Merc", to tap into and connect into the illicit fountain of cash, masquerading as foreign currency and other deals. Clinton
For some twelve years, regulating the Chicago markets was oriental-descent Wendy L. Gramm, then head of the U.S. Commodity Futures Trading Commission. A brokerage owned by a former top Chicago Mercantile Exchange official, GNP Commodities, accused her jointly with the Federal Reserve Board, of falsely interfering with the firm's plan to merge with a French firm, Bank Indo-Suez. Following a regulatory hearing, an attorney for the firm reportedly hollared that if Wendy Gramm and the Fed, do not get off GNP's back, they will be caught up in an international incident and will cease to exist. [Stories about this appeared in the Wall Street Journal, November, 1989.] Wendy L. Gramm, as then head of CFTC, played a key role reportedly in covering up the bribery agenda of Bank of Credit and Commerce International. BCCI, through five La Salle Street brokers, corruptly condoned by CFTC and Wendy L. Gramm, was engaged in bribery and/or blackmailing 108 members of the U.S. House of Representatives and 28 U.S. Senators, including Gramm's own husband, U.S. Senator Phil Gramm (R., Texas). BCCI wanted Congressional okay to spread out their bank branches in the
[Only one populist newspaper, Spotlight, ran the details of my exclusive story in August, 1991, of this scheme operating through "straddles", U.S. and Chicago .] By a strange series of circumstances, the Bank of London had the BCCI bribery records, as an open record, for only thirty days. England
Senator Gramm has been in a position to cover up this dirty cash. He has been Chairman of the Senate Banking, Housing, and Urban Affairs Committee. His wife Wendy, became a Director of Enron Corp. Enron produces electricity and natural gas, develops, constructs, and operates energy facilities worldwide and delivers physical commodities and financial and risk management services to customers. Annual revenue exceeds Forty Billion Dollars. Alleged U.S. Vice President Richard Cheney is a major stockholder of Enron. And Enron reportedly has been part of putting the giant squeeze on
in their electricy black-out following the alleged year 2000 "Election". Going heavily for Presidential candidate Gore, was California thus punished? As an example to other state's popular vote that went for Gore instead of for George W. Bush? That is, if you supported Gore, we are going to "stick it" to you. California
Mercantile Exchange and the Red Chinese and their secret police, played a key joint role in several presidential elections. The head of a Chicago Mercantile Exchange consulting unit leaked the earth-quaking bribery/dope details to certain more independent journalists. At a key point in the year 2000 Presidential Election, this key figure was murdered. Both George W. Bush and William Rockefeller Clinton had an interest to snuff him out. What was it all about? Who all in Chicago were bribed with the Red Chinese dope cash funneled through the Merc? Are some members of the alleged "Cabinet" of alleged "President" George W. Bush tied to the Red Chinese? Was there a malign, if not corrupt, influence, on the Florida Supreme Court in the Bush/Gore cases? U.S.
February 27, 2001, the U.S. Supreme Court ruled on two cases relating to a May 1999 decision of the U.S. Court of Appeals for the . The appeals court had remanded to EPA its national ambient air quality standards (NAAQS) regulations that set allowable levels of ozone and particulate matter (PM) in ambient air. The appeals court found that, in setting the standards, EPA had disregarded important evidence and was, in essence, making law rather than carrying out the laws made by Congress (in violation of the constitutional non-delegation doctrine). District of Columbia
In response to a petition filed by EPA, the Supreme Court heard this question, as well as the question raised by cross-petitioners (private parties and states) of whether the Clean Air Act prohibits EPA from considering all consequences associated with compliance, or whether it requires EPA to focus exclusively on the beneficial health effects of reducing pollutants in the air.
The Supreme Court affirmed in part and reversed in part the judgment of the Court of Appeals, and remanded the cases for proceedings consistent with this opinion. It held:
1. The EPA may not consider implementation costs in setting primary and secondary NAAQS under §109(b) of the CAA.
2. Section 109(b)(1) does not delegate legislative power to the EPA in contravention of Art. I, §1, of the Constitution.
3. The Court of Appeals had jurisdiction to review the EPA's interpretation of Part D of Title I of the CAA, relating to the implementation of the revised ozone NAAQS.
4. The EPA's interpretation of that Part is unreasonable.
at Mercatus Center filed three briefs of amicus curiae before the Supreme Court. These briefs build upon the analysis the Regulatory Studies Program offered on two NAAQS rules for ozone and particulate matter in 1997. George Mason University
staff also featured prominently in briefs filed by other parties. Regulatory Studies Program Director and Mercatus Distinguished Senior Fellow, Wendy L. Gramm was a signatory to an Mercatus Center brief filed on behalf of 40 economists, encouraging the Court to recognize the importance of balancing costs and benefits in making public policy decisions. Gramm and Mercatus Senior Research Fellow Susan E. Dudley's research (published in Risk Analysis: An International Journal, and Pace Environmental Law Review) was quoted extensively in a brief submitted by Harvard Law Professor Laurence Tribe on behalf of General Electric Company. AEI-Brookings Joint Center
INCEST AND CORRUPTION,
by Gene Lyons
December 5, 2001
James Baker, who masterminded Bush's post-election operations in
, joined Enron after the first Bush administration. Florida
So did Commerce Secretary Robert Mosbacher. It was a key 1992 regulatory ruling by Wendy Gramm, wife of Texas Sen. Phil Gramm and currently a member of the company's see-no-evil, hear-no-evil board of directors, that exempted Enron from federal scrutiny, making it easier for executives to cook the books, hiding huge speculative debt behind nonexistent profits-crony capitalism at its worst.
Facing a sure deluge of class action lawsuits from investors and employees- 21,000 retirement pensions have also vanished--Enron has fired its Chief Financial Officer, its Treasurer and its top lawyer. Arthur Anderson, the accountancy firm which signed off on the bookeeping will have much to answer for. Critics tell the Washington Post that Enron executives confronted skeptics with a combination of
arrogance and incomprehensible jargon of the kind taught in the nation's finest business schools. Anybody who suspected funny business simply didn't understand "derivative instruments which eliminate the contingent nature of existing restricted forward contracts." Meanwhile, President Bush can thank two people that the whole steaming pile isn't resting on the White House doorstep: Osama bin Laden and California Gov. Gray Davis. The Enron collapse makes nonsense of GOP cant about deregulation and unfettered markets. But it won't get much attention during war time. Texas 's threatened probe of Enron's Davis price-gouging apparently prevented Bush from naming Enron CEO Ken Lay to the cabinet, widely predicted at the time. Persuading Californians to conserve electricity also seems to have precipitated the whole collapse. On a provincial note, California
many Arkansans may recall that during the
years, Texans enjoyed mocking our uniquely corrupt and incestuous political culture almost as much as certain Clinton know-it-alls. So here's my suggestion: How about if y'all do your country cousins a great big favor and just shut up for a while? Washington
STATE HOME PAGE NEW YORK
Governor's Office of Regulatory Reform realizes that New York State does not operate in a vacuum. Federal regulatory policies dramatically impact life in New York State . Think tanks and Congressional committees are working on ideas in the regulatory reform field. Accordingly, GORR has increased its networking on the national level to better serve the people of the State of New York State . New York
In March 2001 GORR Director David M. Poleto conferred with representatives of the Mercatus Center, comparing notes on federal and state approaches to regulatory reform. Left-to-right: Kameran L. Bailey, Assistant Director of Mercatus' Regulatory Studies Program; Susan E. Dudley, a Mercatus Senior Research Fellow; GORR's David M. Poleto; Wendy L. Gramm, Mercatus Distinguished Senior Fellow and Director of Mercatus' Regulatory Studies Program.
GORR Director David M. Poleto, Director of the Mercatus Regulatory Studies Program Wendy Gramm, and GORR Public Information Officer David Pietrusza.
Wife: Dr. Wendy Lee Gramm, former chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush; Children:
Leading a Regulatory Agency: Lessons from the CFTC
Wendy L. Gramm and Gerald D. Gay
Gramm is Professor of Economics and Public Administration at the University of Texas at
and the former Chairman of the Commodity Futures Trading Commission from 1988-1993. Gay is Professor of Finance at Arlington and the former Chief Economist at the Commodity Futures Trading Commission from 1990-1993. Georgia State University
January 2, 2002
Enron Is a Cancer on the Presidency Finally, a reporter had the temerity to question Bush on Friday regarding the ignominious collapse of Enron Corp. run by Kenneth L. Lay, a Bush family intimate and top campaign contributor.
Bush expressed concern "for the citizens of Houston who worked for Enron who lost life savings and added:
"It's very important for us to fully understand the 'whys' of Enron." Sure is, but did Bush never ask "Kenny Boy"-- his nickname for Enron's chairman--what was going on?
After all, ot only was Kenny Boy one of Bush's major contributors, but it was Lay and Enron that Bush turned to for critical advice on how to further exploit U.S. natural resources.
The media, which had hounded Bill Clinton on his Whitewater connections, have allowed Bush
to maintain the fiction that his--and his father's-- administration had nothing to do with the debacle that is Enron. Given the intense interest in the list of those who slept over in the Clinton White House, it's odd that no attention has been paid to Kenny Boy's sleepover in the early years
of the senior Bush's White House. Those early Bush years were crucial for Enron, beginning with the passage of the 1992 Energy Policy Act, which forced the established utility companies to carry
Enron's electricity sales on their wires. At the same time, Wendy Gramm, who served under the elder Bush as chair of the Commodity Futures Trading Commission, allowed for an exemption in
the trading of energy derivatives, which, as the Washington Post reported, "later became Enron's most lucrative business."
Once that was accomplished, Gramm, wife of Texas GOP Sen. Phil Gramm, resigned from her government post to take a position on the Enron board. As one of the members of the board's audit committee, she now is expected to be a key figure in the lawsuits and federal investigation revolving around Enron's collapse. Recently, the chief executive of Arthur Andersen, Enron's outside auditor, told a congressional committee that the accounting firm had warned the Enron audit committee of what he termed "possible illegal acts within the company." Wendy Gramm is also mentioned in a bank lawsuit alleging insider trading as having sold $276,912 in Enron stock in November 1998. Her response is that she sold the stock to avoid the appearance of a conflict of interest, given that her husband was chairman of the Senate Banking Committee. Yet she was still very much on the Enron board nd being rewarded with future stock options when her husband last year pushed through legislation that exempted key elements of Enron's energy business from oversight by the federal government. Phil Gramm had obtained $97,350 in political contributions from Enron over the years, so perhaps he was acting on his own instincts and not his wife's urgings.
The exemption was passed over the objection of the Clinton administration. Wendy Gramm also directs the regulatory studies program at George Mason University, which has received $50,000 from Enron since 1996. Her academic institute is highly influential in arguing for deregulation, conveniently joining her corporate and academic interests. Unfortunately for true-believer deregulators, the Enron collapse shreds their panacea. Surely no one, least of all Wendy Gramm, who has said she was kept unaware of the company's chicanery in hiding debt and conducting secret private deals to the detriment of stockholders, could argue today with a straight face that Enron was in need of less government oversight. The fact is that there would be no Enron as we now it were it not for Republican-engineered changes in government regulation that permitted Enron its meteoric growth. It's true that the corporation had its allies among the Democrats; campaign finance corruption and influence peddling are generally a cover-all-your-bets bipartisan activity. But in this case, the amounts given to Democrats were puny and late, and there's no doubt that Enron rode to power primarily on the strength of Lay's influence with the Bush family. This fact is not mitigated by Enron now hiring Clinton's former lawyer and various top Democratic lobbying groups, except to note that these hired guns have no shame.
The Bush family ties to Kenny Boy Lay are just too intimate and lucrative to ignore. There also are at least four Enron consultants and executives who hold high positions within the Bush White House, and some of them may be drawn into the investigations that cannot be avoided, despite the distractions of the war on terror. As John Dean once famously said of the Nixon administration, there is a cancer growing on the presidency, but in this case it's name is Enron, and it won't go away by being ignored.
Why is Sen. Phil Gramm so interested in legalizing Mexicans?
He is married to Dr. Wendy Lee Gramm, former chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush.
And she is on the Board of Directors of one of the largest employers of
illegal aliens in America - Iowa Beef Packers.!!!!!
DIRECTORS ELECTED AT IBP ANNUAL MEETING
Dakota Dunes, South Dakota April 20, 2000 Nine directors were elected to one-year terms
today at IBP's annual meeting, company officials reported. Those elected to serve on the
company's board of directors include Robert L. Peterson, IBP chairman and chief executive
officer; Richard L. Bond, IBP president and chief operating officer; Eugene D. Leman,
IBP president fresh meats; John S. Chalsty, chairman of Donaldson, Lufkin & Jenrette, Inc.;
Dr. Wendy L. Gramm, former chairman of the Commodity Futures Trading Commission;
John J. Jacobson, president of TransAm Trucking, Inc.; Dr. Martin A.
Massengale, president emeritus of the University of Nebraska; Michael L. Sanem, self-employed
cattle feeder and private investor; and Joann R. Smith, former assistant secretary of the U.S.
Department of Agriculture. More than 98% of the shares voted were in favor of their election
to the board. The company also reported that more than 91% of the shares voted approved
the fiscal year 2000 performance-based bonus program of the chairman and chief executive
officer; the president and chief operating officer; and the chief executive officer of
Foodbrands America, Inc. Foodbrands, one of three IBP operating companies, is involved
in the production of value-added foods products.
IBP is the world's leading producer of high quality fresh beef and pork, and supplies
premium, fully prepared meats and other consumer-ready foods for the retail and foodservice
industries. The company employs more than 49,000 people.
Contact: Gary Mickelson, IBP Public Affairs Department 605-235-2986
email: firstname.lastname@example.org email: mailto:email@example.com
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