SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: stockman_scott who wrote (46362)1/14/2002 8:47:56 PM
From: Cactus Jack  Read Replies (1) of 65232
 
Scott,

This ENE debacle is going to get more disgusting as the facts come out:

biz.yahoo.com

We may be seeing the next deep pocket to get hit:

"Tauzin and Greenwood said senior Enron officials instructed the law firm of Vinson & Elkins to review the employee's allegations, but instructed the outside attorneys not to second-guess accounting advice and not to analyze the questioned transactions in detail.

The Vinson & Elkins review concluded that the concerns expressed by the Enron employee did not warrant further widespread investigation by independent counsel and auditors, Tauzin and Greenwood said. The review said the employee's information raised no facts that had not been known or disclosed by company officials and auditors.

But the Vinson & Elkins review noted that ``there is a serious risk of adverse publicity and litigation'' from the partnership transactions, according to the congressmen.

In its limited review, Vinson & Elkins interviewed Andrew Fastow, Enron's chief financial officer who was the lead architect of complex partnerships that allowed Enron to keep debt off its books. Vinson & Elkins also interviewed David Duncan, the partner-in-charge of the Enron account at Anderson, the outside auditor of Enron's books.

On Oct. 16, Enron announced hundreds of millions of dollars in third-quarter losses and a writedown of more than a billion dollars relating to the partnerships. The company filed for bankruptcy Dec. 2."

jpgill
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News