It’s become an article of faith among Democrats that Enron is a political scandal. For Republicans, quite the same certainty that it’s only an financial scandal. By and large, I think the Democrats have, and will increasingly have, the better part of this argument. But my God if there isn’t enough scandal to go around.
We still don’t know if there are any political bigwigs and fat-cats who got cut in those debt-concealing outside partnerships at Enron. But what we do now know is that many — perhaps most — of the big Wall Street investment houses were actively involved in marketing investments in these partnerships.
If these partnerships perpetrated a fraud on the investing public then almost everyone’s hands seem to be dirty.