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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: stockman_scott who wrote (47666)2/14/2002 10:40:18 AM
From: Selectric II  Read Replies (1) of 65232
 
So far, mostly lots of finger-pointing and innuendo. The article gives little insight about knowledge by the Board that the transactions were wrong, just that they took place.

My guess -- and only that -- is that Andersen and the internal accountants will take the ultimate heat, along with any top dogs who actually knew that what they were doing was wrong. The bean counters are supposed to know the FASB details of what's proper and what's not, and Andersen both consulted Enron in the structuring and then "policed" (ha) them as auditors.

Since I'm in a guessing mood, I'll also guess that Lay will ultimately get off with either a slap on the wrist or nothing, and the buck will stop with Skilling and Fastow.

<edit>

Unless, of course, somebody comes up with a smoking gun as to Lay.
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