Originally created 02/15/02

Global Crossing collapse ignored



Regarding Tom Zwemer's Feb. 6 letter, "White House must tell about Enron." I assume the author also wants Terry McAuliffe of the Democratic National Committee to explain how his $100,000 investment into Global Crossing turned into $18 million before that company went belly up.

Global Crossing, a major telecommunications conglomerate nearly as large as the Enron fiasco, also had an adverse stock market impact on its employees and shareholders. Some have argued employees were greedy and kept buying up stock without checking facts and figures, while others say employees were ignorant of stock market investments and some employees even thought their stock purchases were insured by the federal government.

This doesn't change the fact of mismanagement and/or fraud by Enron, but how many people have heard of Global Crossing? The media thinks they can tie the Bush administration to Enron, however Jesse Jackson, senators and congressmen from both parties received huge contributions from Enron, especially during former President Bill "Slick Willie" Clinton's eight-year reign in the White House.

ABC, NBC and CBS and their minions have not seen fit to even mention Global Crossing and its market failure. I wonder why.

Floyd Brown, Evans, Ga.