Don't kid yourself. If you think the conviction of Ken Lay means that George Bush is serious about going after corporate bad guys, think again.

First, Lay got away with murder -- or at least grand larceny. Like Al Capone convicted of failing to file his taxes, Ken Lay, though found guilty of stock fraud, is totally off the hook for his BIG crime: taking down California and Texas consumers for billions through fraud on the power markets.

Lay, co-convict Jeff Skilling and Enron did not act alone. They connived with half a dozen other power companies and a dozen investment banks to manipulate both the stock market and the electricity market. And though their co-conspirators have now paid $3 billion to settle civil claims, the executives of these other corporations and banks get a walk on criminal charges.

"We fought the good fight," Jeff Skilling said, standing strong after he and "Kenny Boy" Lay were convicted of defrauding Enron stockholders. But what an odd choice of words. I suppose Joachim von Ribbentrop and Attila the Hun could say the same thing, but fighting to stay out of jail is a small imperial dream. Skilling and Lay did authorize blitzkrieg-worthy raids on West Coast utilities, where Enron traders bragged about stealing from "grandma Millie," and jamming their $250 a megawatt hour power "right up her ass." And Enron did conquer the venerable Portland General utility, then leave it a hollow shell-I met a woman who'd lost her entire retirement. So maybe those were the fights Skilling referred to. But these opponents barely put up a struggle.

Maybe Skilling was talking about political battles. Enron lobbied through the laws that opened California up to utility deregulation, then gouged the state's utilities for every possible cent, and sent them to edge of bankruptcy. If low-income rate-payers couldn't afford the costs or social needs went unmet because of the need for bailouts, that was someone else's

Excerpt from Armed Madhouse - Greg Palast's new book to be released June 6.

Peninsula Hotel, Beverly Hills. May 17, 2001. The Financial Criminal of the twentieth century, not long out of prison, meets with the Financial Criminal of the twenty-first century who feared he may also have to do hard time. These two, bond-market manipulator Mike Millikin and Ken Lay, not-yet-indicted Chairman of Enron Corporation, were joined by a selected group of movers and shakers -- and one movie star.

Arnold Schwarzenegger had been to such private parties before. As a young immigrant without a nickel to his name, he put on private displays of his musculature for guests of his promoter. As with those early closed gatherings, I don't know all that went on at the Peninsula Hotel meet, though I understand Ahnold, this time, did not have to strip down to his Speedos. Nevertheless, the moral undressing was just as lascivious, if you read through the 34 page fax that arrived at our office.

Remarks in front of White House, May 17, 2006.

Some weeks back, Cindy Sheehan asked me to start a petition opposing an attack on Iran. We posted it at www.dontattackiran.org

It's wonderful that so many people are here as we deliver the petition to the White House. It would be nice if President Bush were here, but I understand he's run for the border in search of his lost 30 percent approval rating.

The other people who should be here, but who are here in spirit, are the 43,000 people who signed the petition on the website. We've brought with us to deliver to the men and women guarding our occupied but temporarily abandoned house all 43,000 names. These stacks and stacks of names are printed double-sided and include people's cities and states, so that our President can be sure he's listening in on the right people's phone calls.

Glenn Greenwald's new book "How Would a PATRIOT ACT? Defending American Values from a President Run Amok," lays out a powerful, concise, and well-researched argument that President Bush is a threat to our government's system of checks and balances and to our individual liberties. 

Greenwald makes a point of saying that he used to be a supporter of Bush and trusted him as long as he was able.  The voices Greenwald quotes are those of conservatives, the group to which he is clearly trying to appeal.  He focuses very heavily on Bush's illegal unwarranted spying, but also addresses the use of detention without charge and torture, and touches on Bush's habit of adding signing statements to bills indicating his unwillingness to obey the acts he is signing into law.

Dave Lindorff has argued that a focus on this blatant refusal to obey new laws (and the threat of having a Democratic president behave the same way) is the most effective way to help Bush supporters recognize the threat their leader is to representative democracy.  On the other hand, many conservative Americans don't seem to care about the spying.