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Enron - The Teapot Dome of the new millenium?
With the emergence of the Enron scandal, some pundits began to compare it to the Teapot Dome scandal of the 1920's. The Teapot Dome scandal was a symbol of government corruption. The Enron scandal seemed to follow in its footsteps. Teapot Dome was the name for a scandal during the presidency of Warren G. Harding. A committee of the Senate first exposed the scandal, which revolved around the secret leasing of naval oil reserve lands to private companies, in 1924 after investigations by a non-partisan committee. The Enron collapse involved the buying of political officials in order to engage in questionable business practices, which inevitably led the company to bankruptcy.
Both Teapot Dome and Enron involved getting “kick-backs” or “contributions” from private investors in order to get something sought after. At Teapot Dome, there was a naval oil reserve set aside by the Taft Administration to provide naval ships with fuel in case of a national emergency. Soon after Albert B. Fall was appointed Secretary of the Interior, he sought to have jurisdiction over the naval reserve lands transferred to the Department of the Interior. President Harding agreed and authority over the lands shifted from the Secretary of the Navy to S
Approximate Word count = 1932
Approximate Pages = 8 (250 words per page double spaced)
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