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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (111627)	1/3/2008 8:24:59 PM
From: longnshort	Respond to of 173976

and since libs love taxes, a poll tax also

To: Bill who wrote (111627)	1/3/2008 10:18:35 PM
From: Lizzie Tudor	Read Replies (3) \| Respond to of 173976

I'm really concerned about these bogus white collar prosecutions going on with the justice dept. On this Natwest 3 charge, which was related to Enron, did you know that it involved Enron's ownership of some networking company called "Rhythms netconnections"? Although not well-reported in the press yet, the case against the NatWest Three is fairly straightforward, at least as Enron-related criminal cases go. The Task Force alleges that the three defrauded their former employer by conspiring with Fastow and Kopper to underpay NatWest for its interest in an entity named Swap Sub, an affiliate of LJM1, the Fastow/Kopper-managed special purpose entity that was created in 1999 to hedge Enron's valuable but highly volatile interest in a technology company called Rhythms. Fastow arranged to have an entity called Southhampton that was owned by his family, Kopper and several other Fastow underlings at Enron (including Ben Glisan) buy NatWest's interest in Swap Sub in March, 2000 for $1 million, which was substantially more than NatWest had that interest valued at the time. After NatWest sold out, Fastow sold a portion of the old NatWest interest in Swap Sub through Southhampton to the three bankers personally for $250,000. About a month and a half later, Fastow and Kopper arranged to have Enron and Swap Sub unwind the hedge on the Rhythms stock, which resulted in Enron purchasing a large chunk of Enron stock from Swap Sub. The NatWest Three's net share of the Enron stock sales proceeds was $7.3 million. In short, the Task Force alleges that the NatWest Three's making $7.3 million on an investment of $250,000 a month and a half earlier violates the "too good to be true" rule. Presumably, Fastow and Kopper are prepared to testify that the NatWest Three knew that Fastow and Kopper had arranged with Enron to unwind the hedge on Rhythms stock with Swap Sub, knew that such unwinding would make Swap Sub worth much more than NatWest had it valued at the time, and that neither Fastow nor the NatWest Three disclosed the situation to NatWest before the bank sold its interest in Swap Sub to Southhampton for a measly $1 million. blog.kir.com

To: Bill who wrote (111627)	1/3/2008 11:51:29 PM
From: MulhollandDrive	Read Replies (2) \| Respond to of 173976

lol witness the iowa win of huck and obama.... voters are giving a big middle finger to the status quo we'll be getting populist left and populist right... pick your poison... <g>