Even the Most Critical Posts Awarded to Bush-McCain Cronies

Not to be forgotten the incompetence of "Brownie" (Bush's crony head of FEMA) in the Katrina disaster. Now comes another one of unsuitable ethical standards.

Herbert Allison (appointed to head Fannie Mae) ties Bush, McCain and Enron together. Allison was McCain’s 2002 finance chair. Hopefully, Allison’s role in the Enron scandal can be used to help the Obama campaign and Democrats in general.

The N. Y. Times article (www.nytimes.com/gst/full page.html?res=9B07EdDD1138F933A05754C0A9649C8B63)summarizes how Allison fired analyst John Olson (as an Enron condition for doing business with Merrill because Olson rightly downrated Enron stock) so that Merrill would get underwriting fees from Enron of some $45 million. Ultimately, Merrill and Allison peddled some $500 million of Enron securities to the public. Plus $390 million of LIM2 of Fastow investment vehicles (Andrew Fastow, Enron CFO, now in jail). Senators Carl Levin and Dick Durbin should remember Allison from the Enron hearings (www.senate.gov/~gov_affairs/073002levin.htm).

The Congress should call for the rescinding of Allison’s appointment or at least embarrass the Republicans with the greedy values of its appointee.

-Wm. Carlson