The Enron Scandal - Unmoderated Message Board

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Non-Tech : The Enron Scandal - Unmoderated

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To: KLP who wrote (679)	1/25/2002 1:29:34 PM
From: stockman_scott	Read Replies (1) of 3602

Enron's Moral Lessons acton.org <<...This breach of the public trust between the company and its shareholders cannot begin to be restored until moral accountability is achieved and restored. Sadly, the respected law firm of Vinson & Elkins has continued to aid Enron executives in their shaky moral reasoning by affirming the very practices that led to the company's demise. In a report obtained by the Wall Street Journal, Vinson & Elkins attorneys argue that "Enron's practice of forming special-purpose entities to keep debt off the books was creative and aggressive, and that no one has reason to believe that it is inappropriate from a technical standpoint." It might well be accurate to say that company executives are correct from a "technical standpoint," but it is clear that many shareholders found the company's practices "inappropriate," even if corporate executives were legal from a "technical standpoint." Certainly, the loss of confidence in and financial collapse of the company indicates that something was "inappropriate" in their conduct of Enron's business...>> _____________________ btw, Enron's outside counsel became very wealthy off their largest client. Vinson & Elkins took in over $30 Million from Enron in the last year and they clearly will be sued by the class action lawyers. In fact, they have already obtained their own counsel. Its a big scam -- these lawyers were probably golf buddies with Ken Lay BUT THEY FAILED TO PROVIDE ENRON WITH HONEST AND ETHICAL LEGAL ADVICE relating to their business transactions and their accounting practices. This firm will most likely go bankrupt and its reputation has already been destroyed. Who would want to use Enron's outside legal cousel..?

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