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October 11, 2008 12:14:45 AM CDT

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Stories related to: Enron

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8 Stories

  • July 2008

    • Gramm Guilty of Sparking Subprime Mess

      Mother Jones  |  Jul 26, 08 5:10 PM CDT

      Gramm Guilty of Sparking Subprime Mess

      (Newser) - Former Senator Phil Gramm helped create the subprime meltdown, yet faces no punishment—and could even become treasury secretary if John McCain wins in November, David Corn writes in Mother Jones . Eight years ago, a Gramm bill stopped the feds from regulating insurance policies that protected Wall Street securities. These policies, or "swaps," ended up at "the heart of the subprime meltdown," one expert said. More »

      Tags

      John McCain  • subprime crisis  • subprime mortgage crisis  • Treasury  • Phil Gramm  • Enron

    • 'Venal' Phil Gramm No Big Loss to McCain Camp

      Huffington Post  |  Jul 15, 08 8:15 PM CDT

      'Venal' Phil Gramm No Big Loss to McCain Camp

      (Newser) - "Nation of whiners” adviser Phil Gramm was simply an "accident waiting to happen" for the McCain campaign, writes Max Blumenthal in Huffington Post. Blumenthal runs down the “reactionary, venal and destructive” senator’s foibles—which run from enabling Enron to investing in porn. Gramm “left a massive heap of wreckage…in his wake,” Blumenthal asserts, helping former campaign co-chair Ken Lay build the shadow banking system that aided the mortgage meltdown. More »

      Tags

      John McCain  • mortgage crisis  • gay rights  • pornography  • Phil Gramm  • Enron  • white supremacism  • Whinergate

  • March 2008

    • Bankrupt Lender's Audit Lapses 'Mind Boggling'

      New York Times  |  Mar 27, 08 8:23 AM CDT

      Bankrupt Lender's Audit Lapses 'Mind Boggling'

      (Newser) - Auditors at now-bankrupt New Century Financial—once one of the nation’s largest subprime lenders and one of the earliest to fail—were accused of “mind boggling” lapses in a Justice Department report on the debacle released yesterday. Partners at accounting firm KPMG are said to have ignored “significant improper and imprudent practices” in order to keep the company’s business, the New York Times reports. More »

  • January 2008

    • Court Rejects $40B Suit from Enron Investors

      Bloomberg  |  Jan 23, 08 4:15 AM CST

      Court Rejects $40B Suit from Enron Investors

      (Newser) - The Supreme Court yesterday turned away an appeal from Enron investors seeking to sue banks that loaned the company money, Bloomberg reports. A lower court ruling had blocked the investors from organizing a $40 billion class-action suit against Merrill Lynch, Credit Suisse and other banks. The investors accused the banks of helping the energy trader disguise debt as loans and financing phony trades. More »

      Tags

      lawsuit  • US Supreme Court  • Merrill Lynch  • Barclays  • Credit Suisse  • Enron

    • Court Limits Investors' Suits Over Fraud

      Washington Post  |  Jan 15, 08 5:14 PM CST

      Court Limits Investors' Suits Over Fraud

      (Newser) - The Supreme Court today made it harder for defrauded investors to sue to get their money back. The court limited the ability of investors to sue third parties—accountants, bankers, and lawyers, for example—who help a company commit securities fraud. The 5-3 ruling, considered one of the most important business decisions in years, will make it harder for Enron victims to recover their money, the Washington Post reports. More »

      Tags

      US Supreme Court  • mortgage crisis  • investors  • Enron  • John Paul Stevens

  • November 2007

    • Ex-Enron Chief Not Guilty, Widow Says

      Houston Chronicle  |  Nov 30, 07 9:33 PM CST

      Ex-Enron Chief Not Guilty, Widow Says

      (Newser) - Ex-Enron chief Ken Lay is innocent, and the feds shouldn't drain $13 million from his estate in a civil suit—at least not according to his widow. Linda Lay's filing today denies "any criminal activity on the part of Kenneth L. Lay, including his alleged participation in securities fraud, wire fraud, conspiracy or money laundering," the Houston Chronicle reports. More »

      Tags

      Enron  • bankruptcy fraud

    • Brit Enron Bank Grafters Plead Guilty

      Guardian (UK)  |  Nov 29, 07 3:12 AM CST

      Brit Enron Bank Grafters Plead Guilty

      (Newser) - Three British bankers confessed to an Enron scam in Texas yesterday, admitting to a single charge of transatlantic wire fraud as part of a plea bargain. They'll now have to pay back the $7.3 million the scam netted. The "Natwest Three" said in a statement they hoped this would be the first step in ending their "ordeal." More »

      Tags

      sentencing  • extradition  • Enron  • wire fraud

  • September 2007

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