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The lawsuit, filed by Connecticut-based Cardinal Capital, paints a picture of a group of highly respected former politicians, including former Illinois Governor James Thompson, Richard Perle, the defence adviser and Marie-Josee Kravis, wife of financier Henry Kravis, allegedly approving requests by Hollinger executives - including the sale of some of the company's assets for $1 - without seeking independent opinions on the propriety of the transactions or discussing the matters outside the presence of the executives. The suit contains a virtual laundry list of instances in which four directors allegedly failed to question arguments presented to them by executives, as well as auditors KPMG, to justify the payments of millions of dollars in so-called "non-compete" fees, or payments made to the executives following sales of newspaper assets to third parties.

Who the heck did they think they were? Enron?