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

To: GUSTAVE JAEGER who wrote (915)	1/22/2002 12:22:12 AM
From: Mephisto	Respond to of 5185

Gustave, I've also heard that there are other Enron's out there that have survived by using "creative accounting practices." I am worried because I have money in the stock markets, too. "The collapse of Enron has swiftly morphed into a go-to-jail financial scandal, laden with the heavy breathing of political fixers, but Enron makes visible a more profound scandal--the failure of market orthodoxy itself. Enron, accompanied by a supporting cast from banking, accounting and Washington politics, is a virtual piñata of corrupt practices and betrayed obligations to investors, taxpayers and voters. But these matters ought not to surprise anyone, because they have been familiar, recurring outrages during the recent reign of high-flying Wall Street. This time, the distinctive scale may make it harder to brush them aside. "There are many more Enrons out there," a well-placed Washington lawyer confided. He knows because he has represented a couple of them. " Above excerpt from February 4, 2002 "Crime in the Suites" February 4, 2002 by WILLIAM GREIDER thenation.com