Thoughts on Eron decision from an Ex-Anderson guy

[katty]

more: http://www.dailykos.com/storyonly/2006/5/25/124158/643

Thoughts on the Enron decision from an ex-Andersen guy
by clammyc
Thu May 25, 2006 at 09:41:58 AM PDT

As we all know, the Enron decision was announced. And coming from someone who (as well as my wife) lost my job at Andersen as a result of this debacle, I wanted to share some of my thoughts about it.

Yes, I am very excited that Lay and Skilling were found guilty of all these charges. And yes, it is some vindication. But I will say that this whole mess, which I lay (no pun intended) at the feet of Bush and Cheney for reasons that I will get in to below, has had huge repercussions and a major impact on both my life and my wife's life as well, not to mention MILLIONS of Americans in so many ways. So there is a different perspective and angle here that hopefully adds some value here.

More below:

clammyc's diary :: ::
For starters and for those who haven't kept up, the Andersen conviction for shredding documents was overturned nearly exactly a year ago UNANIMOUSLY by the Supreme Court. So not only did 70,000 US employees - hard working US employees who had no knowledge that Enron was even an Andersen client - lose their jobs over this, we lost our jobs for no reason.

Our (my wife and mine) anger was directed in a number of areas. First, while illegal activity is always wrong, Andersen was clearly the scapegoat for this widespread fraud. We asked ourselves (and our colleagues) why none of the brokerage houses that fraudulently pumped up the stock of Enron weren't taken down. I mean, to those who lost their life savings from this - Enron employees, other investors, or anyone else - they relied on the stock information that the analysts fraudulently provided.

We asked ourselves (remember it was back in 2001 at the time) why Cheney and Bush's ties to Enron executives weren't being probed.

[efhmc]

1. Knowing the real humans that this impacted makes this a bitter-sweet

victory. I knew many people who worked at Enron years before this group of crooks took over and many or not most had already worked for this company for years. They should be retiring with a good nest egg soon. Too old to start new careers, they were burned and took the first brunt of this portion of the bush evil empire. Nice to see these two going down but their co-conspirators in the government need to be expunged also.

[katty]

2. I remember a woman who lost her entire retirement pension

testifying in front of a Senate Committee about Enron-it was heartbreaking, she was in her early 60's, husband gone and was helping her son and his family a bit. I hope Ken & the gang rot in hell-along with bush & the gang.

[efhmc]

3. Is there any hope of monetary recovery for these folks. I think that

bush and cheney should personally have to pay. What evil nonhumans they are.

[katty]

5. all I heard is that the banks that assisted Enron have to pay

(aggregate)up to 6.6 million back to shareholders-it might be more.

[efhmc]

6. Wonder what the total loss was or if we will ever know ?(I mean monetary.

The other cannot ever be calculated.)

[NoAmericanTaliban]

4. Let's not forget the corp. jet Enron let the GOP use during the

Florida recount days. Halliburton let them use the jets as well. Busch & Cheney are just as corrupt as Kenny Boy. They have had their own issues with the SEC, but they were whitewashed. What happened at Enron was economic terrorism. The amount of money pilfered with all these corp scandals is more that what 9/11 caused. The sad thing is what happened to everyday workers who had nothing to do with this.

[efhmc]

7. Economic terrorism, such an apt expression.