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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (143698)	1/14/2002 8:41:43 PM
From: Ken98	Read Replies (1) \| Respond to of 436258

The Enron bodies keep floating to the surface: <<Enron Chief Lay Warned of Troubles Enron Chairman Lay Warned by Employee in August of Financial Troubles That Caused Bankruptcy [...] The unidentified Enron employee relayed her concerns in a letter to Lay and met with him for an hour to supply documentation, said Reps. Billy Tauzin of Louisiana, the committee chairman, and James Greenwood of Pennsylvania. Around the time of the employee's warnings, Lay was telling Enron employees that growth of the energy company ``has never been more certain.'' ``I am incredibly nervous that we will implode in a wave of accounting scandals,'' the employee warned Lay in the letter last August. A ``veil of secrecy'' surrounded Enron's partnerships, which were keeping huge amounts of Enron debt off the company's books, she said. The congressmen released excerpts from the letter. [...] Tauzin and Greenwood said senior Enron officials instructed the law firm of Vinson & Elkins to review the employee's allegations, but instructed the outside attorneys not to second-guess accounting advice and not to analyze the questioned transactions in detail. The Vinson & Elkins review concluded that the concerns expressed by the Enron employee did not warrant further widespread investigation by independent counsel and auditors, Tauzin and Greenwood said. The review said the employee's information raised no facts that had not been known or disclosed by company officials and auditors. [...]>> biz.yahoo.com Another zinger - wow. This could easily bring down the venerable Vinson & Elkins firm along with AA, especially if they were involved in setting up those partnerships or doing some of the tax law work for them. Maybe they should have put some more of those $125k first-year lawyers on the law books before the firm gave the big okey-dokey. Got more deep pockets?