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.
Non-Tech : The Enron Scandal - Unmoderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: stockman_scott who wrote (1918)3/15/2002 2:57:28 PM
From: Raymond Duray  Read Replies (5) of 3602
 
Hi Scott,

We're in complete agreement about what should happen to the Enron brass. It's going to be an uphill battle however, as it will be necessary for the DoJ prosecutors to flip a number of people who will rightly fear for their lives if they spill the beans on Lay, Skilling, Fastow, Copper and the others. Heck, White has an Army now. <g>

Something to keep in mind is that the obstruction of justice charge against the corpus of Andersen is actually a very weak charge, and hopefully we'll see the investigations of Andersen, End Run and V&E turn up more visceral evidence of fraud perpetrated by individuals. The present indictment won't send anyone to jail. Though it will end the Andersen story. I'm sure they're scrambling to sort out the vagaries of the bankruptcy code in order to try to shield the partners from as much liability as possible. It's inevitable, as I see it, that Andersen will be forced into bankruptcy.

The show by the attorneys yesterday in front of Billy Tauzin's Energy and Commerce Committee was more relevatory for what didn't get exposed than for what did. It's going to take flipping a number of ex-Enron employees for justice to be served. This is going to go on for years. The last time we had a major energy related scandal of this proportion was the Sam Insull case in the 1930's. That one wended it's way through the courts for six or seven years as I recall. And in the end, Insull was exonerated of any wrong-doing. In spite of the devastation to shareholders and employees of his Midwest conglomerate. Will it be any different this time? The crooks still have the best lawyers money can buy....

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

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News