Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (6416)	1/12/2002 9:43:40 PM
From: nspolar	Read Replies (1) \| Respond to of 36161

Sorry, can't resist another Enron post. I'll refrain for a week or so. I find this stuff fascinating, and I don't think the issue is going to disappear very fast. In fact a slight possibility exists that it is the opening of pandora's box. With precedent being set, the lawyers may find a whole new area to exploit, for a long time to come. <Catherine Austin Fitts, a former Assistant Secretary of Housing and Urban Development (HUD) and a past Managing Director of the Wall Street investment bank Dillon Read noted that Enron's trading patterns, internet money movements and [other activities] were consistent with a large-scale money laundering operation. She told FTW, "The fact that subpoenas were not issued months ago to obtain all Enron Online off shore and onshore digital and paper trading records and corresponding bank records defies logic, unless one presumes that Enron's generous donations have bought them time for a shredding party that protects all the beneficiaries of the real dollars that flowed through the Enron money pipeline. If my years working on the clean up of BCCI and the S&L crisis taught me one thing that I would communicate today to the shareholders, retirees and employees who have been harmed, it is this: People like the people on the board of Enron absolutely make money on insider trading, bid rigging and fraud, and they do so with help from the highest levels. They are superb at financial fraud because they are superb at persuading people that they are respectable and legitimate. The money they steal buys a lot of respectability. "Presume the worst form of fraud and criminal enterprise is plausible. If not, then we are looking at gross negligence that, according to traditional standards of fiduciary responsibility, in fact constitutes criminality and fraud. Either way the specifics come out -- intentional fraud or gross negligence -- the Enron board and management are criminals. That is a fact. The rule of law says that they should be held to the same standards of accountability as the millions of people they and their institutions have evicted from their homes, thrown into jail, denied health c are and jobs or had burnt at the proverbial stake. The rule of decency says that any American who will continue to do business or associate with these individuals is part of the culture of corruption that has neatly disconnected action from accountability. "I will bet every last dollar I have that Enron was the largest laundromat of stolen and tax evading dollars in American history and that the Department of Justice's primary goal is cover-up --- to make sure that the money trail disappears forever.> rense.com I sleep ever so comfortable knowing that a lot of players in this fraudulent scheme are now heavily involved in correcting several problems of the past, including the national energy policy. Confirms my long held view that many of those in charge of correcting the problems that this country faces, are the problem. Senator McCain we need you to do something. You are one of the few capable. Never been a big fan of organizations of any type - they always seem to eventually be very good at enacting policy that is diametrically opposed to the goals set out by the original organization.

To: Crimson Ghost who wrote (6416)	1/13/2002 11:45:03 AM
From: portage	Respond to of 36161

Won't it be ironic, George, if it's the machinations of the likes of the IMF and Enron that bring the globalisation train to a slowdown or reversal, rather than the airborne rock projectiles in Seattle, half of which are probably tossed by bored slackers who are just out there for sport ? Where are the latter-day statesmen that we could certainly use about now ? It's hard to see history before it unfolds, but between the 9/11 incident and some of these miscues, I'm beginning to sense a growing, open distaste from other countries with our unipolar superpower. Whether justified or not. I'll take a McDonalds, please, but hold the food.