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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (296915)	3/18/2009 1:33:35 PM
From: KLP	Respond to of 793958

Reading that article, c2, one just has to wonder what other connections Hank Greenberg had with Robert Lenzner . Lenzner's highly visable dislike of Greenberg probably got its roots at another time and place. Most interesting article, and input. Thanks. This whole mess somewhat puts Enron as a footnote in financial scandals.....From 2001-2006, we thought $31+ Billion was a lot of money....(Most of us still do, although our Congress spends that much having their donut and coffee in the morning....) From this link, a bit about the Enron Scandal... knowledge.wharton.upenn.edu >>>>>>>>>>>In its bankruptcy filing, Enron listed debts of $31.2 billion, and numerous companies hurried to disclose the extent of their own "exposure" in Enron-related loans, trades and investments. A few examples of potential losses: o Pension funds from around the country indicated they could lose $4.9 billion, largely from holdings of Enron stock, now trading around $1, down from $90 a year ago. o The list of creditors in Enron’s bankruptcy filing suggests Citigroup Inc. could lose $800 million and J.P. Morgan Chase & Co. could lose $500 million. o John Hancock Financial Services Inc., the Boston insurance and financial-services company, said it had about $320 million in Enron-related investments. o A Salomon Smith Barney Inc. analyst estimated that American life insurers had about $1.5 billion in Enron exposure. Others have put the figure as high as $3.5 billion. These would involve investment losses, such as holdings in Enron stock or debt, as well as claims paid in lawsuits against Enron directors and officers and financial-guarantee insurance <<<<<<<<<<<<