Concern over Enron's links to British parties and politicians

The Independent ^ | Jan 12, 2002 | BEN RUSSELL

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Link #2 is interesting.
When Lay asked Greenspan to arrange for a private bailout like Greenspan had done for LTCM, he couldn't because 'it would be inappropriate'.
When Greenspan helped LTCM, he justified this by saying LTCM 'was too big to allow to fail'.
What's going on here?

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Hehe. Arthur Anderson did a 'Hillary".

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I don't know.
Maybe W. doesn't belong to the good boys anymore?
Testimony Before the Committee
Failure could have caused substantial damage
The boys are very happy

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And legions of U.S. stock analysts were only too happy to tout Enron. They must have been solidly asleep all along. It should have been a warning to U.S. mutual fund owners that, in some cases, the analysts pushing Enron's stocks were the same guys who had promoted Russian energy companies just before the Russian stock market bubble burst in August 1998.

More

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baby crash

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What was the difference between the bailout of LTCM and the non-bailout of Enron? The Wall Street fat cats had already bailed out of Enron, leaving the little guys to take the hit.

History repeats itself. In 1983 WHOOPS, the largest municipal bond failure in history, was another major fraud. While fraudulently propping up the bond ratings, Greenscam's friends dumped their holdings primarily on retirees. There were (haha) congressional investigations to prevent this from happening again (hoho).

The moral of this story is: Don't Trust Wall Street. The congressmen are their water boys.

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"The moral of this story is: Don't Trust Wall Street"

Unless you like to gamble and watch the damn thing on your PC on daily basis.

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That's what we all are forced to do, in the meanwhile the fat cats pretend there is no such thing as good old boy inside information. No risk there.

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Alan Greenspan, Physicist?

Nov. 15, 2001 High-profile Federal Reserve Chairman Alan Greenspan says achieving his position as possibly the world's best-known economist was a matter of chance.

According to Greenspan, the path to celebrity economist started with his day job as a professional musician, playing in a dance bands at universities.

"I found that in the 20-minute breaks we'd have in between sets that I started to go to the library and read books on economics. Why? I haven't a clue," he told an audience at Rice University in Houston this week.

"If I had turned left instead of right (in the library), I may have ended up as a physicist for all I know," he said, drawing laughter from the crowd. "And that is the best economic move -- judgment -- I have ever made," the multimillionaire said.
link

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This is the best! Greenspan's resume is so much funnier than a Seinfeld sit-com.

So Greenspan started into economics with his 20 minute breaks while playing in dance bands at universities!
It's not hard to figure out that this old fart routinely picks up his marching orders from his fat cat handlers and the obedient media busily create myths about his 'genius'.

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Losers apart, there will be many dancing on Enron's grave. In the US, it had attracted a degree of notoriety for its part in the bungled privatisation of California's electricity, which led to black-outs earlier this year. But it was in the developing world that Enron had a near unparalleled reputation for corporate irresponsibility. It has been the only company to warrant an entire Amnesty International report, a chilling catalogue of human rights abuses from India to Latin America. The anti-corporate movement accused Enron of subverting the political process of virtually every country in which it operated to advance its interests. Enron was in the thick of one of India's biggest corruption scandals in which huge sums were paid to politicians in the privatisation of electricity firms.

The world's leading company

[Lady In Blue]

Bump.

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Link emphasizes the important reproof to stock traders who continued to boost this unworthy stock.

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Price of power

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Also hidden in this story is the fact that there is no longer such an animal called a 'Public Servant'. Politicians now must serve those who fund them.