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Thursday, January 29, 2004
Two weeks later Billy found his dream job on monster.com....
It's good to know that, during George Bush's jobless recovery, even a poor boy from Louisiana can still find a job that pays slightly over the living wage:
The House's top Democrat, Nancy Pelosi of California, strongly criticized a Republican lawmaker Wednesday for his consideration of a lucrative job offer from the pharmaceutical industry -- an offer that came weeks after he helped to negotiate a sweeping Medicare bill that established a prescription drug benefit for America's seniors.
Pelosi called it "inappropriate" and an "abuse of power" for Rep. W.J. "Billy" Tauzin, R-Louisiana, to consider the offer from the Pharmaceutical Research and Manufacturing Association (PhRMA), one of the city's most powerful lobbies, to head up the organization. The job would pay him more than $1 million a year, according to sources.
"Seniors who are wondering why the pharmaceutical companies made out so well in this bill at their expense, need only to look at this example of abuse of power and conflict of interest," Pelosi said at a news conference.
It's a good thing Tauzin read Wendy Gramm's book: The Private Sector Bounce- It's Not Graft If You Wait A Few Weeks.
He's the top Republican on the Senate Banking Committee and a big recipient of Enron campaign contributions. She's on Enron's board and audit committee. Together, they are Phil and Wendy Gramm, a Washington power couple entangled like no other in Enron's fall.
By their own accounting, the Gramms lost nearly $700,000 when the company went under. But sympathy may be hard to come by.
Wendy Gramm is named in a suit filed by investors against Enron executives and directors. And Phil Gramm's role in reducing government oversight of energy trading, which helped Enron in its rise to power, is under the microscope as well.
As devoted free-market economists, the Gramms have long espoused a hands-off approach to government regulation. One of their two sons, Marshall, is named after British free-market economist Alfred Marshall. President Reagan liked to call Mrs. Gramm his favorite economist.
The Gramms' economic philosophy jibed perfectly with Enron's business interests. Sen. Gramm collected almost $100,000 in campaign contributions from Enron over the past 12 years, the second-biggest draw in Congress. And Wendy Gramm collected between $915,000 and $1.85 million from Enron in salary, attendance fees, stock options and dividends between 1993 and 2001, according to Public Citizen, a Washington watchdog group.
Wendy Gramm took a seat on Enron's board in 1993, just five weeks after resigning as chairwoman of the Commodity Futures Trading Commission, where she pushed through a key regulatory exemption that benefited Enron.
Here's more on Wendy.
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