Enron

[rickortreat]

Nice to see these scumbags were found guilty.  I hope they get 30 years each with no chance for parole for at least 15.  I wanna see these clowns on a chain gang in the hot Texas sun.

What they did in fincancial terms was larceny.  They defrauded shareholders, indulged in collussion and corruption between themselves and Arthur Anderson, agressively combated negative press, even influencing the Wall Street Journal to fire a writer. And built a company based on lies and deceit.

In basic terms they are crooks on a scale that previously could only be achieved by central bankers.

In terms of the damage they did to decent people's lives, the employees and shareholders, of Enron, these guys did tremendous harm for no other reason than their own greed.

I can only hope that along with jail time, that they sieze all the money these jerks made on their stock deals and return it to the shareholders and employees as partial compenstation for their loss.

Sort of like a real-life trading places. Turn the rich guys into poor ones.

[Reality]

A very pleasant surprise, altho lets see what the sentencing brings :rolleyes:

Also gagged to see that Daniel Petrocelli, whom successfully won the civil trial in the OJ case, lowered himself to represent one of these two white devils.  During and after the OJ case he pontificated about justice, morality, etc. :rofl:

Of course to me 99% of liawyers have no morals or ethics whatsoever so not that surpirsed he took the dirty money and attempted to continue the fraud.

[rickortreat]

Of course to me 99% of liawyers have no morals or ethics whatsoever so not that surpirsed he took the dirty money and attempted to continue the fraud.

A lawyers duty is to defend his client irrespective of whether or not the man was guilty.  Once he accepts a fee from his client he is bound and obligated, whether or not he thinks his client did the crime.

It is innapropriate to suggest a lawyer is complicit in the malfeasance of his client.  He is simply doing his job.

Going in, did he know his client was guilty, or if the money he was being paid with was ill-gotten?  Clearly not, as at the time there was a good deal of doubt as to what was going on.  The facts were deliberatly obscured by the perpetrators and it took time to investigate the highly complex web of interaction between Enron and shell companies set up to obscure Enron's true financial picture.

If you go to jsmineset.com you'll see a basic description of how a fraud like Enron can come about.  It is a grand conspiracy, completly illegal, but obscured by Enron in their financial reporting and by their accountants who signed off on false reports.  In additon, these scum manipulated their reports to support their purchases of stock with money borrowed from banks, the very epitomy of insider tradeing.

"Aggressive Accounting" What does that mean exactly!@?  Accounting is how you evaluate a company's performance.  There should be no grey areas.  Aggressive Accounting is another way of saying the accountants are lying scumbags, conspiring with the business to obscure the truth about the company to the public and potential investors.