JUSTICE DEPT. OPENS CRIMINAL PROBE OF ENRON

drudgereport.com ^ | 1/9/2002 | Drudge

[KQQL]

Nothing posted , but the headlines

[KQQL]

Government to Investigate Enron ,

01/09/2002 6:40 PM EST

By KAREN GULLO

WASHINGTON (AP) - The Justice Department has opened a criminal investigation into Enron Corp., whose employees lost billions when the company went bankrupt.

The department has formed a task force, headed by the criminal division, that is comprised of federal prosecutors in Houston, San Francisco, New York and several other cities, said a Justice Department official, speaking on condition of anonymity.

The Labor Department and the Securities and Exchange Commission are conducting civil investigations.

Enron, which was formed in 1985 and has 20,000 employees, was once the world's top buyer and seller of natural gas and the largest electricity marketer in the United States. It also marketed coal, pulp, paper, plastics, metals and fiber-optic bandwidth.

One likely focus of the Justice Department investigation: Possible fraud based on Enron's heavy reliance on off-balance-sheet partnerships which took on Enron debt. The partnerships masked Enron's financial problems and left its credit ratings healthy so it could obtain the cash and credit crucial to running its trading business.

[Timesink]

Excellent. Plenty of illegal activity went on there, and a number of those executives will likely end up in jail.

Even better, we get to spend a few months watching the liberals increasingly get their hopes up that this means they're investigating The White House and finding all sorts of Bad Stuff. Which they aren't, and won't. So we'll get to point and laugh.

[KQQL]

liberals can shut up now,,,,,, Good move by W and Company

[Diddle E. Squat]

This could actually be a great boost to Bush, as long as he plays it straight and smart. What better way to contrast how an investigation and prosecution of one of your major fundraiser should be done, as opposed to the obstruction, foot-dragging, and obfuscation of Tyson and all the other Clinton scandals. Whenever some dopehead tries to claim that this is Bush's Whitewater, it will be much easier to show contrast and tick off all the differences(aided the probe instead of blocking it, etc.).

[be-baw]

I met some Enron folks once...some of the slimiest critters I ever met...

[Iwo Jima]

Book 'em, Danno. Murder One.

[Gritty]

The department has formed a task force, headed by the criminal division

If there is something illegal going on they should prosecute.

Next, if they are looking for even more fraud and criminality, they can start looking at any place in the people and activites of the Clinton Administration. They will find more than enough to keep them busy for years.

[KQQL]

This will SHUT up Levin and LOSERMAN for a WHILE

[america-rules]

Wouldn't this shut congress down from having a goat rope since people wouldn't be able to talk because of the investigation?

[KevinDavis]

It proves that George W and company is innocent. If he was guilty he would have Ashcroft cover his butt.

[DC Ripper]

>>So we'll get to point and laugh.<<

Agreed. EX-cellent.

*evil right-wing snicker*

[glock rocks]

said a Justice Department official, speaking on condition of anonymity.

now we get to see what big John's made of. i'll wait for his on-record statement
and the results. should be interesting watching the left.

[Lady In Blue]

Bump! Thanks KQQL.

[TRY ONE]

Let the Games Begin!

35 yearold (Democrat) Enron Exec. Ken Rice took out $140 million in 2001!

38 yearold (Democrat) Enron Exec. Lou Pai took out $350 million in 2001!

"But gee, Ashcroft, I earned every penney"!!!!

[tgiles]

Great news! Most conservatives are in favor or arresting crooks regardless of party affiliation. Enron smells rotten, and I hope they find out who pulled a Mullah and robbed the kitty.

Better yet, the Dems will look like idiots if they try to tie the Bushies to Enron and it turns out that there's absolutely nothing there. What, do they suspect that Dick Cheney advised Enron on what crappy new businesses to get into and what stupid investments to make?

[KQQL]

Plus it looks good

[KQQL]

Plus it looks good...good PR move