Word: gramm
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Dates: during 2000-2009
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...stinging new Congressional report, obtained by TIME, mocks claims of ignorance by Enron board members like former CEO Ken Lay and Wendy Gramm, the wife of Texas Senator Phil Gramm...
...federal regulator during the previous Bush Administration, Wendy Gramm promoted a lucrative regulatory exemption that benefited Enron, and then became a director of the company months later, in 1993. She also served on Enron's crucial audit committee as the board "knowingly allowed Enron to engage in high-risk accounting." Another of the report's conclusions is that Enron directors were aware of everything from extensive off-the-books deals to conflicts of interest and excessive compensation for senior executives - and did little or nothing about the alleged transgressions...
...billions of dollars in compensation from Enron; they could get a legal boost from the 60-page document. The bipartisan study also raises the likelihood that one-time Enron board members will come under renewed pressure to resign directorships at other major corporations like Lockheed Martin and Qualcomm. Wendy Gramm has already stepped down from several of her board assignments, but her husband Phil, apparently carrying on his wife's mission, is leading the GOP bid to block reforms due before the Senate this week that are designed to prevent future Enrons...
...Senate staff member. "People are keeping their heads down." But businesses and their lobbyists don't like the idea, arguing that the restrictions would push employers to stop offering matching contributions. They fought Boxer's 1997 bill until it quietly died in committee. One person keeping quiet is Phil Gramm, usually a leading opponent of such restrictions. Gramm's wife Wendy served on the audit committee of Enron's board, and the Texas Senator has recused himself from Enron matters. His fellow Republicans are also holding their fire...
...1990s Enron became a new kind of business, selling not just energy but exotic financial instruments such as energy futures and options. The company moved the heart of its operations from the oil patch to the trading floor--largely free of regulatory baggage, thanks to allies such as Wendy Gramm. In 1993, as chairwoman of the Commodities Futures Trading Commission, Gramm helped design rules that exempted energy trades from government regulation. That meant Enron could operate an online energy market that, unlike traditional stock and commodity exchanges, did not have to disclose the price, volume or terms of the contracts...