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

To: Raymond Duray who wrote (2327)	7/11/2002 2:07:04 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 3602

Phil Gramm's legacy is and alway will be the Gramm-Leach-Bliley Act (GLBA). The act which allowed Citicorp to go to Enron and say, hey, how would you like to borrow 12 Billion dollars and not tell any shareholders but Citicorp? So that when word leaks out, we can forclose on the loans, dump 12 Billion dollars worth on stock on the market, short the stock on the way down, tell smithbarney to tell all those little old ladies that have deposits with us to buy it on the way down, and then BLAME THE OFFICERS OF ENRON, AND ARTHER ANDERSEN TO CREATE A SMOKESCEEN TO COVERUP WHAT WE HAVE DONE. Hmmmmmmmmmmmmmmmmmmmmmmm? Keep the banks out of the Securities Business. They ruined it in 1929 and they will ruin it today!