Former Treasury Secretary Rubin Lobbied for Enron

It has been disclosed that former Clinton Treasury secretary Robert E. Rubin intervened on behalf of Enron Corp., as the biggest energy company neared collapse. Rubin called the Treasury undersecretary for domestic finance and asked his support for Enron Corp. Also, Federal Reserve Board (FRB) Chairman Alan Greenspan received a telephone call from Chairman of Enron, Kenneth L. Lay. The Enron scandal is continuously expanding.

Treasury spokeswoman Michele Davis said that former secretary Rubin called Peter Fisher, Treasury undersecretary for domestic finance, on Nov. 8th, and asked Fisher "to request bond-rating agencies to help forestall a crippling reduction in Enron`s credit rating." on Friday.

Former secretary Rubin is a chairman of the executive committee at Citigroup, one of Enron`s main bankers.

FRB also announced on Friday that Chairman Lay called FRB Chairman Alan Greenspan on Oct. 26th. FRB said, "We will not specify the content of the conversation. Mr. Greenspan did nothing in response to the call."

Spokeswomen Davis emphasized that undersecretary Fisher, who has Enron stocks, "did not accept former secretary Rubin`s request." However, Enron`s lobbying activities before its bankruptcy shocked the nation because of its huge scale and scope which included the U.S. government.

Ki-Heung Han eligius@donga.com