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ANDERSON CHICAGO HEAD OFFICE 'DISCUSSED ENRON PURGE'
The London Financial Times Friday Edition ^
| January 18, 2002 00:57 Greenwich Mean Time
| Adrian Michaels and Pete Speigel
Posted on 01/17/2002 5:50:12 PM PST by umbra
Officials at Andersen's head office in Chicago took part in regular conference calls and discussed destroying documents with the firm's Enron auditors in Houston in the weeks leading up to the controversial purge, congressional investigators have learnt.
The discussions threaten to ruin attempts by Andersen to contain the Enron damage to a few people in its Houston office.
TOPICS: Business/Economy; News/Current Events
KEYWORDS: enronlist
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8 more added to the witness list.
1
posted on
01/17/2002 5:50:13 PM PST
by
umbra
To: umbra
The patsy in Texas ploy won't work this time.
2
posted on
01/17/2002 5:56:12 PM PST
by
Shermy
To: umbra
Looks like the last stab. Andersen is going down...
3
posted on
01/17/2002 5:56:13 PM PST
by
cactmh
To: umbra
Separately, Citigroup, the US's largest financial services group, on Thursday gave the first official assessment of its Enron losses when it took a $228m (£157m) charge against its fourth-quarter earnings. I don't believe that is all Citigroup is on the hook for.
To: cactmh
Big time.
5
posted on
01/17/2002 6:04:49 PM PST
by
Howlin
Comment #6 Removed by Moderator
To: umbra
When are the hearings, and will they be televised?
To: Enron_List
Indexing
8
posted on
01/17/2002 6:09:04 PM PST
by
Salvation
To: umbra
Wait. We're missing some important details here. In all fairness, discussions about destroying documents, by itself, is not a crime or even suspicious behavior. Every major company has discussions along these lines, and it doesn't mean there's a coverup. It's a matter of keeping business private and away from competitors. It's about control and keeping documents in a central location where one verified document exists.
On the other hand, these guys were quite possibly discussing ways to cover up unethical and criminal activities at a corporate level. If I had to guess, that's exactly what they were doing. But we don't know that from what has been revealed here.
9
posted on
01/17/2002 6:14:11 PM PST
by
Dog Gone
Comment #10 Removed by Moderator
To: razorback-bert
Poor Citigroup--NOT!! The Saudi Prince, is a big investor.
11
posted on
01/17/2002 6:19:55 PM PST
by
TwoStep
To: umbra
It's OK for the Rapist and his Witch to shred docs. BUT, God forbid if a regular citizen would shred or destroy docs. all hell would break loose! The INJUSTICE of it all!
To: Dog Gone
I am amazed at how quickly the camera was taken off the politicos and on to the bean counters. As you stated, document destruction is not in and of itself a bad thing. The Congressional investigators have found more than enough damaging evidence in the correspondence. Strange since the first thing an independent audit team looks at are the Director's minutes and internal correspondence. You would think that a coordinated effort to hide evidence would include parts of the afore mentioned information.
To: razorback-bert
The question is.......who gave Citi-group the heads up......and how much of their debt was reshuffled so as NOT to appear on THEIR bottom line.........this entire affair stinks to high heaven.
To: Dog Gone
You wrote: "In all fairness, discussions about destroying documents, by itself, is not a crime or even suspicious behavior."
Discussions by top officials leading to the deliberate destruction of documents for the purpose of hiding the truth about fraudulent accounting practices which are under criminal investigation is both suspicious and criminal.
To: JustTheTruth
Our respective statements are not in conflict.
16
posted on
01/17/2002 6:42:31 PM PST
by
Dog Gone
To: razorback-bert
I don't believe that is all Citigroup is on the hook for. Yep, I understand it to be some 3 billion, not counting underwriting any other loans.
So at 228 mill / quarter they'll write off the whole mess in 14 quarters, or 3 & a half years of tax credits.
To: dread78645
Don't forget their exposure to Argentina too.
To: Dog Gone
It doesn't prove anything, but it sure looks bad that the serious shredding started after the SEC called about an audit of Enron's records.
To: Dog Gone
We're missing some important details here. In all fairness, discussions about destroying documents, by itself, is not a crime or even suspicious behavior.a) It depends on just what sorts of documents they are. Some financial documents can be shredded at will, and some must be saved for a lengthy period of time. b) Shredding any documents as part of an intentional plan to destroy evidence of a crime is absolutely illegal. c) This article doesn't even seem to be referring to the legalities (or lack thereof) of the matter, but rather the damage to Andersen itself. They were trying to say "Oh, it's just our Houston office, which got out of control." Now it appears the coverup went right up to headquarters.
20
posted on
01/17/2002 6:53:29 PM PST
by
Timesink
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