Fleecing of the U.S. by Phil Gramm

By WILSON BUTT Bluefield Daily Telegraph Virginia Republican Sen. John Warner suggested that the U.S. go back to the double-nickel speed limit to save fuel. What Warner did not tell you is that our fine senators voted unanimously for Phil Gramm's “Enron Loophole.” In fact, the legislation was co-sponsored by former U.S. Rep. Tomas Jerome Bliley, Jr. (R-VA) of Richmond, VA. Bliley, a graduate of Georgetown, was a funeral director. He retired in 2001, probably realizing he could make a fortune in energy commodity trading. Bliley had a lot of help concocting the loophole. Rep. Larry Combest (TX), James A. Leach (IA) and John LaFalce (NY) joined fellow Republican and Sponsor Thomas W. Ewing of IL (probably not related to J.R. of Dallas) in pushing Phil Gramm's bill through the House and Senate. Gramm's timing was perfect. Members... [read full story]