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Non-Tech : The ENRON Scandal
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To: zonkie who wrote (44)1/10/2002 11:30:59 PM
From: Mephisto  Read Replies (1) of 5185
 
" The fallout is nationwide."

Zonkie, I read Bob Herbert's op-ed article this morning. I thought of putting it on the forum's cover page.

I am astounded at the incredible interest in the Enron scandal because Congressional
hearings do not begin until January 24. Yet, from what I see on tv, read in the press and
hear over the radio: many people are intensely interested in the collapse of Enron -Mephisto
.................................................................................................................

"The shareholders' suit," .... "alleges that the 29 executives and directors dumped $1.1 billion worth of stock while knowing the company was in danger of collapse."

Defendants in the lawsuit have disputed the charges against them. But there is no disputing that as Enron toppled and fell, insiders unloaded hundreds of millions of dollars' worth of stock while rank-and-file Enron employees were locked into rules that left many of them helpless as the stock's value
plunged from more than $90 a share to less than $1.

" It has long been known that Enron and its chairman, Kenneth Lay, were close to President Bush. In Mr. Lewis's book, "The Buying of the President 2000," Enron was already listed as Mr. Bush's No. 1 career patron.
---Bob Herbert
nytimes.com
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