15 Bush officials owned Enron stock

At least 15 high-ranking US administration officials owned Enron stock last year, according to a government watchdog group.

The stockholders included Defence Secretary Donald Rumsfeld, senior presidential adviser Karl Rove, deputy EPA administrator Linda Fisher, Treasury Undersecretary Peter Fisher and US Trade Representative Robert Zoellick.

Army Secretary Thomas White, who was not included in the watchdog analysis of administration officials, was Enron's vice chairman before assuming his Pentagon post and owned between $50m and $100m worth of stock.

In addition to the Bush officials who owned Enron stock, at least two officials had professional ties to Enron, according to an analysis of financial disclosures by The Centre for Public Integrity.

White House economic adviser Lawrence Lindsey served as a consultant to Enron when he was managing director of Economic Strategies Inc, a consulting firm.

Robert Zoellick also served on the advisory council, earning $50,000 a year.

The report did not specify which officials sold their stock before Enron's financial collapse in December, but at least two, Karl Rove and Thomas White, have disclosed they did. Enron shares, which traded as high as $83 last year, are now worth less than $1.

Mr White announced that he sold his stock before taking his post with the Army last year. Mr Rove sold his shares, worth between $100,000 and $250,000, early last year to comply with federal ethics rules.

Bill Allison, managing editor of The Center for Public Integrity, said there are other companies that have ties as far-reaching as Enron - but probably not very many.

"This is a fairly revealing look at how many administration people, who are in decision making positions, had a significant interest in Enron," Allison said. "The company obviously has powerful ties."