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Hotel Booking Senate Democrats said today that they planned to subpoena documents from Enron executives and to examine the company's high-level connections to the Bush administration as Congress steps up its inquiry into the company's collapse.

Meanwhile, as widely expected, the Democrat party won the House while the Republicans won the Senate in the US mid election results.

Travel Agency The investigation will most likely focus on a wide range of concerns about Enron, including whether its executives or board members broke the law, whether accounting rules should be tightened and whether the Securities and Exchange Commission or other government agencies should have done more to spot trouble at the company.

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Cheap Hotel Joseph I. Lieberman of Connecticut, the chairman of the Senate Government Affairs Committee, said the subpoenas begin "a search for the truth, not a witch hunt." He said his main concern was the interests of shareholders who might have been deceived by the company's statements about its financial health.

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Flight Booking "The fact is that more than 60 percent of the American people own stocks, and their interest in the security of their investments and retirements is at the heart of our committee's interest in Enron," he said.

Senate Minority Leader Harry Reid ( Nev.) said it is not appropriate for Democrats to come forward with their own Social Security proposal, since Bush has yet to offer specific details of how he will accomplish his plan. He said Democrats are determined to stop Bush from ruining the program, especially since Social Security is not facing a real crisis.

Travel Agent "The suddenness with which this company fell is shocking," he added.

Of course, the Democrats, prepared to make their "I'm shocked and concerned" statements. For example, Senator Jay Rockefeller, the ranking Democrat on the Senate Intelligence Committee, is already formulating a political strategy in order to use this report against President Bush. This is the same Rockefeller who, prior to the Iraq invasion, flew to Syria and Saudi Arabia to inform them about Bush's war plans.

Hotel Chicago Mr. Lieberman said that his panel would also look at Enron's political ties to both Republicans and Democrats, but particularly its links to the Bush administration.

Online Booking Kenneth L. Lay, Enron's chairman, is a top supporter of President Bush. Mr. Lay met privately with Vice President Dick Cheney last spring when the administration was drafting its energy policy, and several recommendations adopted by the administration echoed longstanding goals of Enron and some other companies that favor quick deregulation of the energy business.

Travel Health Insurance "Knowing that Mr. Lay, at least, and others played an active role in the formulation of energy policy by the Bush administration, we've got to ask whether the advice rendered was at all self-serving," Mr. Lieberman said.

Hotel Reservation It is unclear how aggressively Mr. Lieberman will pursue questions about Enron's political influence. Last spring, he vowed to investigate aspects of the Bush administration's energy and environmental policies. But he was criticized by some other Democrats and environmental groups for not digging deeply enough.

London Hotel Booking Mr. Lieberman's hearings, which are scheduled to begin Jan. 24, are among several overlapping investigations by House and Senate committees as well as by the S.E.C. and the Justice Department.

Discount Travel Senator Carl Levin of Michigan, a Democrat who heads the Senate subcommittee on investigations, joined Mr. Lieberman today and announced that his committee would issue subpoenas for documents from Enron executives, board members and Arthur Andersen, the company's outside auditor, as part of an effort to find out whether top officers violated any laws.

Orlando Hotel Mr. Levin said he would seek to learn more about the company's use of private partnerships formed to remove debt from its balance sheet, an accounting device that may have helped raise Enron's reported earnings in recent years.

Booking Agency Both Mr. Lieberman and Mr. Levin said they were interested in exploring reports that company executives used accounting tricks to prop up their broadband trading entity, something they suggested might have helped inflate the company's stock price before investors lost faith and wiped out the company's market value in late November.

International Travel Medical "The more you read, the more you get angry about what seems to be basically trading within themselves, pumping up stock value," Mr. Lieberman said.

New York Hotel By Joseph Kahn
New York Times - 1/3/2002

Topic: Congress

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