Turned up to eleven: Fair and Balanced

Friday, December 07, 2001

Since I am listening to NPR (please, hold your applause), and they are talking about the Enron debacle, and since I know next to nothing about business or investing, allow me to pontificate! These guys are crooks (the bosses at Enron), and what they have exposed is the huge gap between what is a lot of money in politics (a few million dollars donated here and there) and a lot of money in business (on the order of 70 BILLION dollars in revenues, 9 billion in debt when they folded) When the payola only amounts to ~0.01% of revenues (they only have to do it every 4 years), and far less than 1% of profits, why wouldn't any self respecting company do it. Hell, as a shareholder, I would demand that they do it. Since it is probably not a good idea to give political campaigns 100x as much cash (scary!!), I think some sort of campaign finance reform just might be in order. Of course, many will say that this is simply the market shaking out the chaff, but when the leaders get rich, the workers go broke, and the investors get left holding the bag, some questions are in order.