Dr. Martin Luther King, Jr, whose memory and life work we celebrate today, said that, "Injustice anywhere is a threat to justice everywhere."

As the Enron/Arthur Andersen scandals unfold and the resulting injustices to the employees, pension holders, shareholders, and community, become clear, we are putting forth a set of citizen proposals for reform.

Before we turn to our distinguished citizen advocates who are going to address proposed component parts of this Citizens Agenda for Reform, let's do a quick recap of Enron-omics as we know it thus far.

ENRON-OMICS AT A GLANCE

• In 2001, Enron, a 15 year-old energy-trading corporation, was ranked number seven of the Fortune 500.
• In December 2001, Enron laid off 4,000 employees and filed for bankruptcy, the largest such filing ever.
• Many employees lost 70 to 90 percent of their retirement savings as they were forced to hold their shares from October 16 to November 13 while Enron's value plummeted.
• As late as September 2001, Enron employees and other shareholders were consistently reassured by top management that the stock was stable -- "a bargain" -- and that future prospects were good, while executives sold off $1.1 billion in company shares and amassed personal fortunes.
• Enron accumulated more than $1 billion in debt since 1997, debt that top executives hid off the books.
• Arthur Andersen doubled as an auditor and as a management advisory services firm for Enron, making more than $50 million in fees in a single year.
• When criticism began to surface about its accounting practices, Enron management ordered its law firm to run a limited investigation, not to include "second-guessing," which resulted in an October report finding no wrong doing at Enron or Andersen.
• Andersen stood by its reports until shortly before Enron failed, when Enron decided that four years of earnings had to be restated and $600 million - or 20% -- of reported profits had to be erased.
• Andersen shredded thousands of paper and email documents pertaining to Enron audits.
• Of the securities analysts following Enron, only one put a sell recommendation on the stock prior to the date of bankruptcy;
• Enron had 3500 subsidiaries and partnerships, and paid no income taxes in four of the past five years because it was able to transfer assets among 881 subsidiaries that were set up abroad in tax-sheltered countries.
• According to Public Citizen, Enron and its employees gave $5.95 million in individual, political action committee and soft money contributions to federal candidates and parties, 74% to Republicans and 26% to Democrats.
• Enron employees were the single largest funding source of George W. Bush's presidential campaign, and gave $623,000 directly to President Bush throughout his career.
• According to the Center for Responsive Politics, Arthur Andersen ranked 5th on President Bush campaign's list of corporate donors. Since 1989, Andersen has contributed nearly $5 million in soft money, PAC and individual contributions to federal candidates and parties.
• Enron officials were invited to participate in six meetings of Vice-President Cheney's energy task force, which endorsed many Enron proposals. Enron chairman Kenneth Lay made calls throughout the fall to the Treasury Department, the Federal Reserve, and the White House "providing information" about the company's situation to top officials at each, though reportedly no assistance was granted.

Here to discuss this corporate house of cards are a number of distinguished citizen advocates. We are going to begin with Karen Friedman, the director of policy at the Pension Rights Center, a watchdog on pensions.

She will be followed by Tyson Slocum, the research director at Public Citizen's Critical Mass Energy and Environment Program, who will be discussing energy deregulation. Mr. Slocum has written the Public Citizen Report entitled "Blind Faith: How Deregulation and Enron's Influence over Government Looted Billions from Americans"

He will be followed by Modestine Snead, a board member of DC ACORN, the Association of Community Organizations for Reform Now, the nation's largest community organization of low and moderate income families, and she will discuss energy policies designed to boost profits for wholesalers like Enron at the expense of consumers and what needs to be done.

Ms. Snead will be followed by Dr. Ralph Estes, a professor emeritus of accounting at American University, who has served as a senior auditor at Arthur Andersen, and has written a number of books including "The Auditor's Report and Investor Behavior, Corporate Social Accounting, and Tyranny of the Bottom Line, Why Corporations Make Good People Do Bad Things; He will address accounting profession reforms.

Professor Estes will be followed by Carl Mayor, an environmental and securities lawyer, and former law professor at Hofstra University, where he taught securities, corporations, and corporate finance.

Mr. Mayor will be followed by Ralph Nader and we will take questions at that point from the press.