Rich on Lay

Frank Rich's column (to make up for the fact that I almost blow an aneurysm every time I start to write about Lay's appearance on "60 Minutes" last Sunday):

JUST when Americans are being told it's safe to hand over their savings to Wall Street again, he's baaaack! Looking not unlike Chucky, the demented doll of perennial B-horror-movie renown, Ken Lay has crawled out of Houston's shadows for a media curtain call.

His trial is still months away, but there he was last Sunday on "60 Minutes," saying he knew nothin' 'bout nothin' that went down at Enron. This week he is heading toward the best-seller list, as an involuntary star of "Conspiracy of Fools," the New York Times reporter Kurt Eichenwald's epic account of the multibillion-dollar Ponzi scheme anointed America's "most innovative company" (six years in a row by Fortune magazine). Coming soon, the feature film: Alex Gibney's "Enron: The Smartest Guys in the Room," a documentary seen at Sundance, goes into national release next month. As long as you're not among those whose 401(k)'s and pensions were wiped out, it's morbidly entertaining. In one surreal high point, Mr. Lay likens investigations of Enron to terrorist attacks on America. For farce, there's the sight of a beaming Alan Greenspan as he accepts the "Enron Award for Distinguished Public Service" only days after Enron has confessed to filing five years of bogus financial reports. Then again, given the implicit quid pro quo in this smarmy tableau, maybe that's the Enron drama's answer to a sex scene.

The Bush administration, eager to sell the country on "personal" Social Security accounts, cannot be all that pleased to see Kenny Boy again. He's the poster boy for how big guys can rip off suckers in the stock market. He also dredges up some inconvenient pre-9/11 memories of Bush family business. Enron was the biggest Bush-Cheney campaign contributor in the 2000 election. Kenny Boy and his lovely wife Linda flew the first President Bush and Barbara Bush to the ensuing Inauguration on the Enron jet. Even as Enron was presiding over rolling blackouts in California, Dick Cheney or his aides had at least six meetings with the company's executives to carve up government energy policy in 2001. Even now what exactly transpired at those meetings remains a secret.