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: Raymond Duray who wrote (2935)2/21/2004 9:32:49 PM
From: Glenn Petersen  Read Replies (1) of 3602
 
Ray,

I caught the segment with Ms. McLean this morning. She was both informative and very emphatic in her opinions. I have actually read "Smartest Guys in the Room" and I would enthusiastically recommend it if you have not read it. It does a nice job of laying out the mechanics of the special purpose entities.

I have also read "24 Days" by Rebecca Smith and John Emshwiller, the two WSJ reporters, and Robert Bryce's "Pipe Dreams." "24 Days" was tedious and not as illuminating as I would have hoped. "Pipe Dreams" was a cut and paste job and essentially a political screed.

I suspect that the DOJ will take a stab at indicting Lay. It will be a hard case to prove. If I were a prosecutor, I would hate trying these cases before a jury. Too complex. Back in the early 1990's (wearing my public accounting hat) I testified in a federal court for two days in a fraud case involving a leveraged buyout. The financial statements provided by the seller were grossly inaccurate. The buyer had been smart enough to build some protection into the purchase agreement. When I had audited the financial statements subsequent to the close of the transaction, I reduced the income by 75%. It was a bench trial before a well regarded judge. It may have been my testimony, but the judge could not grasp the significance of the audit adjustments that I had made. The buyer lost the case.

We will have to agree to disagree on the issue of Ashcroft and Enron.

I do not share Scott's opinion that Bush will pardon Lay. It is not going to happen. They may have been political buds, but then Lay hung with Clinton also. If they can herd Lay into jail, Bush will let him rot there.
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