Tuesday, February 07, 2006

Good news! Enron style

Deltoid surveys some Good Electricity News from Iraq (millions of dollars disappeared, millions more wasted rebuilding a generating station that can't possibly work, less generating capacity now than before the war), then quotes Jim Henley who points out that the:
press release about the Quds station was ... an authentic “Good News from Iraq” item. The kind of joy the Main Stream Media ™ is keeping from you. And it was just a press release about something that was going to happen eventually but never did.
Does anyone remember Enron? Do we remember what they did wrong? They siphoned money off into bogus accounts and did other fun things, but most importantly, they booked profits on their deals as soon as they signed a contract, not when the money actually arrived. They were rich on paper, but since they over-valued their deals, they would up going broke. The accounts with funny names were just ways to hide the fact that they didn't have money that they had already booked as profit.

This seems especially relevant as the new budget from our conservative God-King increases the nation's debt, debt which will be held by our dear friends in China. And what efforts there are to reduce that debt's growth are being placed on the shoulders of the poor, the elderly, and the sick.
Just like Enron:

They're f------g taking all the money back from you guys?" complains an Enron employee on the tapes. "All the money you guys stole from those poor grandmothers in California?"

"Yeah, grandma Millie, man"

"Yeah, now she wants her f------g money back for all the power you've charged right up, jammed right up her a------ for f------g $250 a megawatt hour."
And lest we forget, Fire Kansas Democrats criticized our fine congressman for opposing a plan to cut funding for critical social services because "It's too bad that Grandma scaring by the Democrats takes precedent over sound fiscal policy."

Yes, what a shame that keeping Grandma out of poverty was rejected as a path to fiscal solvency. Why can't Democrats be more like Enron Republicans?

By the way, the budget cuts amounted to a whopping $39 billion over 4 years, peanuts relative to this year's $2.7 trillion budget or today's $8.18 trillion debt, but real money to those grandparents.