California's Troubles Begin Now
By: Jack Dalton
If Californians thought they had financial problems before the recall wait till they see what's coming now that Ah-nold is Governor. They will soon learn what many of us observers have known for a while; the recall was a well orchestrated campaign to sabotage Gray Davis and Cruz Bustamante's attempt to make Enron (and the other Texas energy corporate thieves) pay back the right at $9 billion they swindled from Californians. In April of 2001 Gray Davis appealed to the Federal Energy Regulatory Commission in an attempt to force Ken Lay and Enron to return the $9 billion they stole from California through all the fraudulent schemes. At the same time Cruz Bustamante filed a civil suit against Enron under California's Civil Code 17200... the Unfair Business Practices Act... to recover the $9 billion from Enron.
California's $8 billion deficit would no longer exist (in fact it would have a surplus) if either Davis or Bustamante were to win. Based on all the existing evidence against Enron, Bustamante's suit (which is headed to court now) would pretty much be a hands down win. One big glitch however, Ken Lay. May 2001 (one month after Bustamante filed his civil suit against Enron) Ken Lay held a meeting at the Peninsula Hotel in Los Angeles. In attendance was the millionaire buddy of Ken Lay that was the originator of the Davis recall, Riordan (former mayor of Los Angeles), Mike Milken (the criminal junk bond salesman), Ken Lay of Enron infamy, and Arnold Schwarzenegger. Karl Rove was also rumored to have been there also but that has never been confirmed. What a gathering. The topic of discussion... the energy "crisis" created by two lawsuits.
The plan... keep Davis & Bustamante from being re-elected. If that fails... attempt a recall of Davis. Enron wanted to pay 2 cents on the dollar to California, but the governor would have to accept Enron's deal which is something Davis would never go along with. The solution... re-call Davis and put sympathetic ear in the governor's chair... who, the Terminator himself. Arnold accepts Enron's deal and that will effectively cut the rug out from Bustamante's civil suit against Enron for the entire $9 billion. Everyone wins except Californians... they get it in the shorts! And guess what? Not only will the state still be in the financial hole, but it will just about triple within the next 3 to 6 months. There isn't space here to put forth the economic models to support that prediction... just keep watching and you'll see it happen. Did I mention that the person who heads up the Federal Energy Regulatory Commission was hand picked for Bush baby by Ken Lay?
This re-call is going to have repercussions nationally... I am absolutely certain that the Terminator will hand California to Bush on a golden platter come election time next year. We had all better get real busy over the next few months or Bush baby will end up setting up permanent residence in the White House. Now that is truly a very scary thought.