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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jet.Screamer who wrote (100938)1/20/2008 12:04:16 PM
From: Lizzie TudorRead Replies (1) of 306849
 
yes well - if you look at all the rampant fraud charges the feds brought against Enron it is clear that this participation angle is being stretched way too far. You are correct you couldn't have sued caterers. But you could have sued everybody else including accounting firms that were auditing other parts of the Enron business, having nothing to do with where fraud is taking place. Or securities firms where were enlisted to sell executives shares where the books were later deemed to be fraudulent, stuff like that.

Plus, the core of this case wasn't the issue of suing associated parties originally. It was a suit on the issue of "round trip" transactions which is also way overreaching. There are very few round trip transactions that are actually fraud, despite the DOJ claiming otherwise. Tons of companies buy stuff from other companies.

What really happened here is in this administrations zeal to spend all the money the US had on hand, they hired hundreds of lawyers to go after "white collar crime" in 2002. The real fraud was gone years ago and now they are just harassing everybody. Bottom line- there is grey area in business and thats just the way it is. By today's standards microsoft was a clear fraud due to stock options backdating. Some people just shouldn't be in the markets. The fed needs to leave corporations alone.
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