Why Is Congress Investigating Enron?

[Shantanu]

Don't they have the the police, prosecutors, and the FBI for this sort of thing?

 

[Harvey]

Let me guess. Every TV, radio and telephone in your neighborhood is broken, and you forgot the url for CNN.

 

[Ameesh]

<< Let me guess. Every TV, radio and telephone in your neighborhood is broken, and you forgot the url for CNN. >>



lol

 

[minendo]

<< Let me guess. Every TV, radio and telephone in your neighborhood is broken, and you forgot the url for CNN. >>


What is Enron?

 

[Martin]

I think he just wanted a suick summary.

 

[Shantanu]

No seriously. Why is Congress investigating a failed company? Historically, Congressional investigations have been politically motivated, as it is not the duty of the legislative branch of government to conduct investigations. There's no good reason Congress is pursuing this, other than the fact that the Democrats have successfully tied George W. Bush and energy companies together in the eyes of the public, and hope insinuate some sort of scandal on the part of the Bush administration by the boosting the news coverage of the collapse. Of course, such a link between Bush and the Enron collapse has yet to be proved, but insinuation is all that is needed to do damage.

 

[NeoV]

A relationship between Bush/Cheney and Enron has yet to be proven? I am guessing you are a republican, but come on. I am not saying a scandal of any kind exists, but if you can't admit that there are clearly many close ties between the two groups than you are blinded by your political affiliations.

 

[rahvin]

<<Why is Congress investigating a failed company?>>

Because something went horribly wrong and a few billion dollars in net worth vanished overnight. As a result congress is conducting an investigation to see if Securities laws need to be changed. You know that is what congress is for.

 

[Angrymarshmello]

Not to mention several thousand employees lost their 401ks and retirement funds - I think you'd get on the ball if you had a couple thousand angry employees breathing down your arse to do something

 

[CADsortaGUY]

<< Because something went horribly wrong and a few billion dollars in net worth vanished overnight. As a result congress is conducting an investigation to see if Securities laws need to be changed. You know that is what congress is for. >>



yep! - security laws- sure that is why you wouldn't think that it had ANYTHING to do with politics and the DemocRATS need to try and taint Bush's image.

 

[rahvin]

<<yep! - security laws- sure that is why you wouldn't think that it had ANYTHING to do with politics and the DemocRATS need to try and taint Bush's image. >>

You know, millions of americans lost money on enron. Nearly every mutal fund owned them. We had a situation where a supposidly independent accountanting firm was watching to books and providing their stamp of approval on the books as valid. Yet the leaders of that accounting firm were contract consultants to Enron. We also had a situation where 2nd tier management was writting letters to the board of directors warning of the collapse 6 MONTHS ago and the directors sold all they're stock while the general investor got SCREWED. A whole bunch of people are going to go to jail over this and congress needs to fix this accounting loophole that exists so that this NEVER happens again. If they don't fix it then investing in this country is in jeporday because confidence HAS been undermined. You can patronize this and politicize this all you want but the fact remains that securities regulations need to be changed and congress is going to figure out HOW to do it by figuring out what went wrong with Enron.

 

[CADsortaGUY]

<< <<yep! - security laws- sure that is why you wouldn't think that it had ANYTHING to do with politics and the DemocRATS need to try and taint Bush's image. >>

You know, millions of americans lost money on enron. Nearly every mutal fund owned them. We had a situation where a supposidly independent accountanting firm was watching to books and providing their stamp of approval on the books as valid. Yet the leaders of that accounting firm were contract consultants to Enron. We also had a situation where 2nd tier management was writting letters to the board of directors warning of the collapse 6 MONTHS ago and the directors sold all they're stock while the general investor got SCREWED. A whole bunch of people are going to go to jail over this and congress needs to fix this accounting loophole that exists so that this NEVER happens again. If they don't fix it then investing in this country is in jeporday because confidence HAS been undermined. You can patronize this and politicize this all you want but the fact remains that securities regulations need to be changed and congress is going to figure out HOW to do it by figuring out what went wrong with Enron. >>



YES - I agree that ENRON needs to be looked into but DONT blame BUSH and his administration for ENRONS poor management! - i'm sick of people trying to pin this on him. "well he should have done...." blah blah... if he would have done something about it it would have been considered a favor because of the campaign contributions, which I might add also went to <gasp> Joe dingalingdong 'Liberalman'.

If people would just open their eyes they'd realize that NOBODY but ENRON and their accounting firm are to blame! They got what they deserved. However I do empathise with the employee who are now getting nothing but an ungreased splinter filled shaft, but there is nothing that BUSH could have done to prevent ENRON from imploding.

 

[glenn1]

<< Why Is Congress Investigating Enron? >>



Perhaps the better question is, who cares? The more time they spend with Enron, the less they have to propose and pass stupid laws to "improve" our lives....

 

[shazbot]

Enron exec's & management should be stoned to death.

 

[CADsortaGUY]

<<

<< Why Is Congress Investigating Enron? >>



Perhaps the better question is, who cares? The more time they spend with Enron, the less they have to propose and pass stupid laws to "improve" our lives.... >>



I guess I never thought of it that way OK I change my mind - KEEP DIGGING!

 

[BrunoPuntzJones]

<< Enron exec's & management should be stoned to death. >>

One committed suicide on Friday

 

[Kermy]

Bah damn Bush.

 

[IGBT]

They sold 5 cows when all they had was 4.