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.

Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (549)	1/15/2002 8:24:45 PM
From: Roger A. Babb	Read Replies (1) \| Respond to of 5185

Karen, it is now very clear that the decision to destroy the documents was made at the highest levels of Andersen after consultation with legal staff and maybe consultation with Enron. These are smart guys at Andersen who would no doubt have been certain that the destruction would be discovered and that severe penalties would result. Thus one must conclude that the information being destroyed was of greater potential damage than the penalties for the destruction. Since the penalty for the destroyed documents will likely be the loss of billions for Andersen to suits by Enron debtors, shareholders, and employees and could even lead to the bankruptcy of Andersen, it makes one wonder what larger evil was being covered up. One theory is that it coul be a trail back to high political figures (current or past) and/or damaging info about some other large companies. There may be much more stink here than we yet know about. But given that a significant number of folks at both Enron and Andersen would have had access to the info, you can bet that the secrets will come to light at some point.

To: Karen Lawrence who wrote (549)	1/15/2002 8:55:30 PM
From: Bill Jackson	Read Replies (1) \| Respond to of 5185

Karen, Well, there is a lot of smoke, that's for sure. Now to find the gun. As the response to your comment indicates, the lawyers at Enron see the fallout of the destruction as the lesser of two evils. That lawsuit will take a few years to fight out. As for the campaign contributions. It looks like Enron buttered both side of their bread with funds to both dems and repubs, but more to repubs, so it is hard to draw anything from that other than they wanted to buy both sides at the same time. This looks like common politics. As for Bushie, I doubt he would even place his name on any letter of defence to Enron. I think Enron is a hot potatoe and non dem of rep wants to have it in his/her lap. Bill