Lost in the Dust of 9-11

Republicans have already figured out how to save our children from prosperity. Will they attempt to figure out a way to shift the blame to the Democrats? Count on them to give it their all. Remash article on Enron from 2001

The Tim Channel

Theft by Deception

Enron – An Implosion on Wall Street

November 29, 2001

“The company’s autopsy will be a complicated affair, entailing numerous lawsuits. What is already clear, and will come as a shock to millions of trusting individual investors across America, is that the financials of a Fortune 500 company were essentially a mystery. Enron’s death watch began last month when it grudgingly disclosed that $1.2 billion of its market value had vanished as a result of “related-party” transactions with private partnerships that enriched company insiders. Then Enron admitted that it had overstated its profits over the last five years by $600 million. Dynegy cited Enron’s lack of forthrightness as a reason to walk away from the merger agreement.

Not very long ago, competitors and Democrats in Washington were worrying whether the close ties between Enron’s chairman, Kenneth Lay, and George W. Bush would give the company too much influence. Enron has…

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