"Catherine Austin Fitts, a former Assistant Secretary of Housing and Urban Development (HUD) and a past Managing Director of the Wall Street investment bank Dillon Read noted that Enron's trading patterns, internet money movements and [other activities] were consistent with a large-scale money laundering operation.
She told FTW, "The fact that subpoenas were not issued months ago to obtain all Enron Online off shore and onshore digital and paper trading records and corresponding bank records defies logic, unless one presumes that Enron's generous donations have bought them time for a shredding party that protects all the beneficiaries of the real dollars that flowed through the Enron money pipeline. If my years working on the clean up of BCCI and the S&L crisis taught me one thing that I would communicate today to the shareholders, retirees and employees who have been harmed, it is this: People like the people on the board of Enron absolutely make money on insider trading, bid rigging and fraud, and they do so with help from the highest levels. They are superb at financial fraud because they are superb at persuading people that they are respectable and legitimate. The money they steal buys a lot of respectability.
"Presume the worst form of fraud and criminal enterprise is plausible. If not, then we are looking at gross negligence that, according to traditional standards of fiduciary responsibility, in fact constitutes criminality and fraud. Either way the specifics come out -- intentional fraud or gross negligence -- the Enron board and management are criminals. That is a fact. The rule of law says that they should be held to the same standards of accountability as the millions of people they and their institutions have evicted from their homes, thrown into jail, denied health care and jobs or had burnt at the proverbial stake. The rule of decency says that any American who will continue to do business or associate with these individuals is part of the culture of corruption that has neatly disconnected action from accountability.
"I will bet every last dollar I have that Enron was the largest laundromat of stolen and tax evading dollars in American history and that the Department of Justice's primary goal is cover-up --- to make sure that the money trail disappears forever."
"Reprinted with permission, Michael C. Ruppert and From The Wilderness Publications, www.copvcia.com, P.O. Box 6061-350, Sherman Oaks, CA, 91413. 818-788-8791. FTW is published monthly, annual subscriptions are $50 per year."
Key to the activities of criminals holding high government office is the necessity for a system to launder and transport money obtained through illicit means. During Iran-Contra, that system was BCCI. The S&L disaster turned out to be another money laundering system that not only cleaned up the CIA's cocaine money, but actually increased it all on the backs of the US Taxpayers.
Now we have ENRON, which while overtly an energy company, was involved in high volume financial transactions of the very sort used to launder money. The auditors destroyed records, and key government oversight positions are now held by men who previously worked for that auditor.
ENRON appears to be the new BCCI.
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