 NYT. The Enron case is starting to run amok. The sad fact is that this type of thing was only the tip of the iceberg on what went wrong in our financial reporting system over the last three years. There was sooo much money to be made in the markets, the pressure to participate in fraud for massive financial gain was immense.
>>> The chairman, Representative James C. Greenwood, Republican of Pennsylvania, head of the House Energy and Commerce oversight subcommittee, said investigators for the subcommittee had determined that document shredding was widespread and that up to 80 people had received orders to destroy papers. He said it called into question Andersen's attempts to blame rogue employees for the episode.
Mr. Duncan (the Andersen partner in charge of the Enron account) is expected to appear under subpoena at the energy and commerce subcommittee hearing, but he plans to invoke his Fifth Amendment right against self-incrimination, his lawyer said today. Mr. Duncan, will "rely on his Constitutional right not to testify" unless he is given immunity, his lawyer, Robert Giuffra, told the committee in a letter today.
"The one glaring fact here is that David Duncan, with full knowledge of an S.E.C. investigation, initiated a massive document destruction campaign," the official said. <<<
8:15:06 AM 
|
|
