the CAMP ENRON Report


CAMP ENRON:
... gateway to the next Progressive Era?

Some say it's nothing but a train wreck ... roll in the big cranes, clear the track, see what the crew's been smoking. If I thought so, I'd not be writing this ... and if they thought so, they'd not be drumming so hard.


For a brief orientation, see this
Welcome to Camp Enron

Submit Feedback To:
RonKsFeedbag at aol

Camp Enron Archives
01/01/2002 - 02/01/2002 02/01/2002 - 03/01/2002 03/01/2002 - 04/01/2002 04/01/2002 - 05/01/2002 05/01/2002 - 06/01/2002 06/01/2002 - 07/01/2002 07/01/2002 - 08/01/2002 08/01/2002 - 09/01/2002 06/01/2003 - 07/01/2003

NOTE to READERS:
(2) All "major" articles of older material have now been imported, some with updates worth perusing. We'll keep it all on the main page for a while, will add a few loose pieces of history, will trim the main page and index the archives for convenience later.


OUR DEPARTMENTS:

the COGENT PROVOCATEUR:
free agent, loose cannon, pointy stick ... taking an imposing analytic toolkit out of the box, over the wall and into the street ... with callous disregard for accepted wisdom and standard English

reading the tea leaves from original angles, we've led with uncannily prescient takes on the federal surplus, the dotcom crash, the "Energy Crisis", the Afghan campaign, the federal deficit.

More where those came from ... stay tuned.


For brief orientation, see this
Welcome to CP


CAMP ENRON:
... gateway to the next Progressive Era?

For a brief orientation, see this
Welcome to Camp Enron

OTHER GOOD STUFF:
Many thanks to Tony Adragna and Will Vehrs, still shouting 'cross the Potomac at QuasiPundit. Early Camp Enron material can be found in QP's Dispatches department.
Tuesday, April 09, 2002

 
--- Big Suits, Deep Pockets ... Hmmm ---

Hey, RICO ... is the Zoot Suit making a comeback?

As suggested here all along, Enron shareholders are looking for defendants whose $1B checks will cash. They're finding big ones, a "who's who" of major financial institutions -- J.P. Morgan Chase, Citigroup, CSFB, CIBC, Merrill Lynch, BofA, Barclays, Deutsche Bank, Lehman Bros -- plus two high-profile law firms -- Houston's Vinson & Elkins, Chicago's Kirkland & Ellis -- for their roles in fabricatin' and manipulatin' off-sheet entities to camouflage Enron's deteriorating condition.

Hard cases to make, but I suspect at least some of them are meritorious and may take big bites out of more landmark institutions than Andersen (by settlement, or at trial, or in the court of public opinion). The political aftermath will take decades ... but some these battles will only take years, and will help clarify the larger issues.

On another track, employees are reported going after some of the same sources with RICO suits.

On yet another docket, NY AG Eliot Spitzer thinks he has Merrill Lynch dead to rights on securities fraud -- analysts plugging worthless stocks to keep the investment banking fees rolling in on the other side of the house. Got some "smoking gun" e-mails that sound damning enough ... how bright is the line between office humor and criminal conspiracy?

One predicted result: massive surge in routine automated destruction of corporate e-mail archives. (Routine destruction isn't obstruction, now is it?)