Word: scandalizes
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...Union address. Bush was gently mocking the endless process--and perhaps acknowledging how many reasons there are for last-minute rewrites: a war and a recession, an anxious public, an aggressive opposition party, and above all the fast-moving story of the largest corporate bankruptcy in U.S. history--a scandal that has so far defied White House attempts to isolate it or explain it away. In the space of five days last week, the story of Enron's collapse went from the merely unusual to the truly baroque, with plot elements lifted from the pages of Robert Penn Warren...
...Walker is, of course, our first real scandal in years. Less salacious than O.J., more emotionally charged than the Chandra Levy debacle, Walker's case pits good against evil (if you believe the New York City tabloids), family against religion and even God against country...
Congressional investigators are out one potential star witness in the Enron scandal. Former Enron vice-chairman Cliff Baxter was found dead in his car early Friday morning in the Houston suburb of Sugar Land, with a Fort Bend County justice of the peace ruling Mr. Baxter's death a suicide by midday. (There was apparently a note, whose contents have not been disclosed...
...David Duncan taking the Fifth in the House and former SEC Arthur Levitt wearily reciting to the Senate what he'd told them two years ago about conflicts of interest in the financial system, took the day off Friday to update TV news channels on the state of the scandal. The subpoenas are in the mail and the show will only get better, but for now lawmakers have a lot more burning questions than they have witnesses to answer them...
...with a brief stopover in Sugar Land that will surely yield some titillating follow-ups, the Enron scandal turned back toward whence it came - Wall Street. The Wall Street Journal led Friday with a story that everyone might have been talking about if anyone could understand it - how investment bank JP Morgan held Enron's hand all the way to the Jersey Channel Islands to set up one of the company's offshore partnerships/tax havens/accounting dodges - and could stand to lose $1 billion on the deal. Implication: That something rotten you're smelling in the state of business is probably...