Throughout the collapse of the energy giant Enron during the past six months — leaving thousands of workers without retirement savings, generating concerns about corporate America — University economics professor and New York Times columnist Paul Krugman harshly criticized the company and its financial and political links to the Bush administration.
But as inquiries into one of the largest corporate meltdowns in history continue, questions have been raised about Krugman's own ties to the company.
In a Jan. 15 column in the Times, "Crony Capitalism, USA," Krugman blamed the Bush administration for some of its economic policies and ties to several firms.
In particular, the column alluded to the roles Enron executives may have played on Vice President Dick Cheney's energy task force last year.
Krugman suggested that President Bush had been critical of Enron when the news of its collapse came out in order to cloud the administration's dubious ties to corporations.
"None of this is clearly illegal — it just stinks to high heaven," Krugman wrote in the column. "That's why the Bush administration will try to keep the Enron story narrowly focused on one company during its death throes. Just remember, that story is much bigger."
But soon after the column appeared, The Washington Times and other publications revealed Krugman had served on an Enron advisory board in 1999.
Krugman received $50,000 in compensation from the company and he himself admitted to having spoken at an Enron conference.
Before joining the Times in Oct. 1999, Krugman had written an article in Fortune magazine promoting Enron. He disclosed his involvement with the company in a Times column on Jan. 24 of last year.
"Full disclosure: Before this newspaper's conflict-of-interest rules required me to resign, I served on an Enron advisory board that turns out to have been a hatchery for future Bush administration officials. (What was I doing there? Beats me.)," Krugman wrote.
One of the officials to whom Krugman referred was Lawrence Lindsey, Pres-ident Bush's chief economic adviser, who also served as a consultant for Enron.
In a Jan. 17 article on Lind-sey, the Times noted that Krug-man "was also paid $50,000 to serve on an Enron advisory board in 1999."
Krugman said he had no meaningful role on the advisory board.
"This was an advisory panel that had no function that I was aware of," Krugman was quoted as saying in press reports.
"My later interpretation is that it was all part of the way they built an image. All in all, I was just another brick in the wall," he continued.
Other prominent columnists who do not share Krugman's political and economic views also served on Enron's advisory board.
William Kristol, editor of the conservative magazine The Weekly Standard, received about $100,000 from Enron for his service on the board.
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