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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: cosmicforce who wrote (61848)	10/9/2002 1:22:00 PM
From: Lane3	Respond to of 82486

I'm not comfortable with this concept. I'm not either. I'm still struggling to understand the motivation. The column provided an interesting and instructive way to look at the matter, though.

To: cosmicforce who wrote (61848)	10/9/2002 6:06:19 PM
From: TimF	Read Replies (1) \| Respond to of 82486

Then why are there no criminals in the Enron case, but we heard about Whitewater until we are blue in the face? I've heard a lot more about Enron over the pasy year. As for there being no criminals in the Enron case ______________ 216.239.51.100 Thursday August 22, 6:56 AM Former Enron executive Michael Kopper pleads guilty HOUSTON, Texas (AFP) - A former executive at Enron Corp. pleaded guilty to conspiracy to commit wire fraud and money laundering, in what officials called a " milestone" in their efforts to build a criminal case against the bankrupt energy trader's former management. Michael Kopper, 37, former managing director of Enron Global Finance, also agreed to co-operate with authorities in their probe into the spectacular collapse of the energy trader, and forfeit 12 million dollars in "ill-gotten gains." "Today Michael Kopper has accepted personal responsibility for his role in the Enron tragedy," said his lawyer David Howard. "Michael hopes that these actions demonstrate his deep regret for his own conduct. He apologizes to all whose lives have been affected by what he did." Under his plea agreement with prosecutors, Kopper admitted using his position at the Houston company to enrich himself and others, Howard said. As a key aide to Andrew Fastow, Enron's former chief financial officer, Kopper oversaw the controversial off-balance-sheet partnerships that enabled the energy trader to inflate its profits and conceal debt. When he quit in August 2001, he walked away with 10.5 million dollars from a mere 125,000 investment in a partnership called Chewco. The partnerships allowed the company to keep millions of dollars in losses off its corporate balance sheet until it was forced to restate earnings after attracting the attention of the SEC in late 2001. Enron finally filed for bankruptcy December 2, 2001, in what was then the biggest US corporate bankruptcy in history, robbing its investors and employees of millions of dollars -- and in some cases wiping out their life savings. The collapse of the giant -- which had close ties to the administration of President George W. Bush -- was the first in a series of financial scandals that roiled US financial markets and led to tougher regulation of financial reporting. As such Enron has come to be seen as something of a test case for the government's pledge to get tough on corporate wrongdoing. The first indictment in the case -- in the form of a plea agreement -- "marks a significant milestone in the Enron investigation," Larry Thompson, deputy attorney general said at a press conference in Washington. Thompson said the 12 million dollars would be distributed to injured investors, and announced that three co-conspirators had also been charged along with Kopper in one of the schemes covered by the indictment. Kopper, who had previously cited his right against self-incrimination and declined to testify before congressional committees looking into the Enron affair, could face up to 15 years on the criminal charges. But he will likely get a reduced sentence on account of his cooperation, according to a DOJ spokesman. An SEC civil fraud suit, filed against Kopper Wednesday, disbars him from ever serving again as an officer or director of any public company. Wednesday's development follows the conviction of Enron's auditors, Arthur Andersen LLP, on obstruction of justice charges in June this year. The Chicago-based firm was found guilty of destroying evidence relating to Enron's bookkeeping as authorities closed in on its client. _________________

To: cosmicforce who wrote (61848)	10/9/2002 9:07:53 PM
From: Lane3	Read Replies (2) \| Respond to of 82486

I mentioned a week or so that I had participated in a poll. They sent me the results and I found this pair of questions and responses interesting. Poll is from Zogby. Do you agree or disagree that the U.S. can actually remove Saddam Hussein from power? Interactive Poll Agree 64 Disagree 24 Not sure 12 Total 100 Do you agree or disagree that if the U.S. does actually remove Saddam Hussein from power, the nation of Iraq will then become friendlier towards the U.S.? Interactive Poll Agree 31 Disagree 41 Not sure 28 Total 100