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Kenny Lay ...he's baaaack!

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Enron: Patron Saint of Bush's Fake News

Frank Rich

03-20-05 NYTIMES

Just when Americans are being told it's safe to hand over their savings to Wall Street again, he's baaaack! Looking not unlike Chucky, the demented doll of perennial B-horror-movie renown, Ken Lay has crawled out of Houston's shadows for a media curtain call.

His trial is still months away, but there he was last Sunday on "60 Minutes," saying he knew nothin' 'bout nothin' that went down at Enron. This week he is heading toward the best-seller list, as an involuntary star of "Conspiracy of Fools," the New York Times reporter Kurt Eichenwald's epic account of the multibillion-dollar Ponzi scheme anointed America's "most innovative company" (six years in a row by Fortune magazine). Coming soon, the feature film: Alex Gibney's "Enron: The Smartest Guys in the Room," a documentary seen at Sundance, goes into national release next month. As long as you're not among those whose 401(k)'s and pensions were wiped out, it's morbidly entertaining. In one surreal high point, Mr. Lay likens investigations of Enron to terrorist attacks on America. For farce, there's the sight of a beaming Alan Greenspan as he accepts the "Enron Award for Distinguished Public Service" only days after Enron has confessed to filing five years of bogus financial reports. Then again, given the implicit quid pro quo in this smarmy tableau, maybe that's the Enron drama's answer to a sex scene.

The Bush administration, eager to sell the country on "personal" Social Security accounts, cannot be all that pleased to see Kenny Boy again. He's the poster boy for how big guys can rip off suckers in the stock market. He also dredges up some inconvenient pre-9/11 memories of Bush family business. Enron was the biggest Bush-Cheney campaign contributor in the 2000 election. Kenny Boy and his lovely wife Linda flew the first President Bush and Barbara Bush to the ensuing Inauguration on the Enron jet. Even as Enron was presiding over rolling blackouts in California, Dick Cheney or his aides had at least six meetings with the company's executives to carve up government energy policy in 2001. Even now what exactly transpired at those meetings remains a secret.

But never mind. The president himself gave his word when the Enron scandal broke that Kenny Boy was really more of a supporter of Ann Richards anyway. Feeling our pain, Mr. Bush told us of his own personal tragedy: his mother-in-law lost $8,000 she had invested in Enron. Soon stuff was happening in Iraq, and the case was closed, or at least forgotten.

Yet the larger shadows linger. Revisiting the Enron story as it re-emerges in 2005 is to be reminded of just how much the Enron culture has continued to shape the Bush administration long after the company itself imploded and the Lays were eighty-sixed from the White House Christmas card list.

The enduring legacy of Enron can be summed up in one word: propaganda. Here was a corporate house of cards whose business few could explain and whose source of profits was an utter mystery - and yet it thrived, unquestioned, for years. How? As the narrator says in "The Smartest Guys in the Room," Enron "was fixated on its public relations campaigns." It churned out slick PR videos as if it were a Hollywood studio. It browbeat the press (until a young Fortune reporter, Bethany McLean, asked one question too many). In a typical ruse in 1998, a gaggle of employees was rushed onto an empty trading floor at the company's Houston headquarters to put on a fictional show of busy trading for visiting Wall Street analysts being escorted by Mr. Lay. "We brought some of our personal stuff, like pictures, to make it look like the area was lived in," a laid-off Enron employee told The Wall Street Journal in 2002. "We had to make believe we were on the phone buying and selling" even though "some of the computers didn't even work."

If this Potemkin village sounds familiar, take a look at the ongoing 60-stop "presidential roadshow" in which Mr. Bush has "conversations on Social Security" with "ordinary citizens" for the consumption of local and national newscasts. As in the president's "town meeting" campaign appearances last year, the audiences are stacked with prescreened fans; any dissenters who somehow get in are quickly hustled away by security goons. But as The Washington Post reported last weekend, the preparations are even more elaborate than the finished product suggests; the seeming reality of the event is tweaked as elaborately as that of a television reality show. Not only are the panelists for these conversations recruited from administration supporters, but they are rehearsed the night before, with a White House official playing Mr. Bush. One participant told The Post, "We ran through it five times before the president got there." Finalists who vary just slightly from the administration's pitch are banished from the cast at the last minute, "American Idol"-style.
 
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