Politicians Return Enron Donations Ahead of Finger Pointing

Bloomberg via WND ^ | 29 Dec. '01 | Holly Rosenkrantz and William Roberts

[rdavis84]

Tell it to those who lost their retirement.

[Carry_Okie]

One for Calpowergate.

[Ernest_at_the_Beach]

OK1

I wonder if Lockyear took some of their money?

[machman]

I sort of feel sorry for people who lost their life savings in the 401k. But why did they have their ENTIRE LIFE SAVINGS IN ONE STOCK?????? These people were approacing retirement, yet they "bet the farm" by puting all thier eggs in one basket? There is a simple answer, they were greedy. They saw Enron's stock going up, so most likey they took money out of other things like mutual funds, and rolled the dice. They probably felt smart when the stock went from $40 in late 1999 to $90 in late 2000, and had over six months to sell as it fell back to only $40 by August 2001. The facts are most of these people rolled the dice, and it came up snake eyes.

Maybe these were unsophisticated people, but the law is very clear that 401k sponsors can not give ANY advice that would be considered investment advice. Maybe we do need more laws to protect "simple folk", but then maybe it should be up to the government to provide for everyone's retirement to keep things fair.

[sausageseller]

Did they not have any choices as it related to their retirement fund?

[sausageseller]

sarcasm n. The use of keenly ironic or scornful remarks.

[mewzilla]

I say investigate them all, and let the chips fall where they may...

[NonMerci]

Watch the RATS stop any investigation

This is beyond hilarious in light of the recent orders from the administration re: secrecy. You need to change your medication.

[Donald Stone]

'While they may act like it, they are not a South American country, and Ken Lay is not the President of Argentina,' declared J.P. Morgan Chase spokesman Alex Firtilly. 'They are a malfeasant U.S. corporation that has potentially caused us to lose $500 million.

The above statement could equally apply to:

U.S. Congress

FBI

DOJ

Washington D.C.

There was a $325 million securities fraud scheme in south Florida in which certain people made millions that had direct and/or indirect ties to the Fl. Attorney General. Robert Butterworth and the close personal friends and political cronies of the Maryland Attorney General, Joseph Curran Jr. and nobody has said boo about any of this.

[rdavis84]

Enron is a Fine Fascist Model. Nobody does it better than American Fascists.

And what the heck, there's plenty more money where that came from!

[freekitty]

Read the book "The Informant" An FBI Mole on Archer, Daniel Midland and you will not be surprised this happened. It is a blueprint on how business is done today.

[Rowdee]

They will only be using these hearings as campaign/election tools.....they will NOT wind up cutting each other's throats....there is too much poop against both sides....they have a gentleman's agreement.....remember the Fred Thompson R-TN, Senate Hearings on campaign financing that just died on the vine?

[Rowdee]

They'll bastardize the language again to attempt to lay it on Bush and Cheney....recall that Cheney refused to give them any info in meetings behind closed doors with Enron...I don't believe there were any other energy outfits present or in private closed door meetings--I've not read of any--only Enron.

[Rowdee]

And good ol' Roger Tamraz in the Thompson hearings announced quite adamantly the payoff was worth it and next time he'd play a lot more for the change to push his pipeline plan....after all, he stood to make $2 BILLION for getting us to 'look the other way' or say 'ok'.

[Donald Stone]

How interesting that I should stumble across a comparison between Enron and Pinnacle on a Google search last night.

I thought there were some striking similarities but I didn't think I would find this.

Learn From Enron's Shocking Collapse

p.s. Sungirl reason I dragged you over to this article thought you might be interested.