• Enron

    The Enron Enforcers: Where Are They Now?

    It’s been 600 days since the Enron Task Force disbanded after former Enron CEO Jeff Skilling received his sentence of 24 years in prison. As part of the wider commemorations of the anniversary, it was thought timely to check “Where Are They Now?” for a group characterized as a “huge success” and whom even the […]

    / Jun 18, 2008 at 4:06 PM
  • Bear Stearns, Enron

    Energy Traders Haunted By Enron Memories

    We contacted the DealBreaker energy trading desk this afternoon for a report on the state of the market, but the celtic tigers who are supposed to watch that market for us were already out getting drunk for Saint Patrick’s Day. We rifled through the desk anyway, and came up with a few notes on what […]

    / Mar 17, 2008 at 3:27 PM
  • Bear Stearns, Enron

    Is Bear Stearns The New Enron?
    The Answer Is Yes But Not For The Reasons Many Think

    Shareholders in Bear Stearns have been all but wiped out despite the rescue bid from the Federal Reserve and JP Morgan Chase, prompting comparisons to the collapse of Enron. CNBC has been airing videos of old interviews with former Enron CEO Ken Lay, which fell apart almost seven years ago destroying a great deal of […]

    / Mar 17, 2008 at 1:01 PM
  • Enron, Jeff Skilling

    You Must Tell Jeff Skilling He’s a Money Laundering Criminal At Least Two Times Before He Will Believe You

    Former Enron chief executive-cum-Bubba’s bitch Jeffrey K. Skilling today appealed the criminal convictions (19 charges of fraud, conspiracy, insider trading and misleading auditors) that got him 24 years in prison, and sought a new trial, on the grounds that the government’s case had “profound, inherent weaknesses.” Besides the vague (i.e. golden) argument that there were […]

    / Sep 7, 2007 at 2:27 PM
  • Enron, legal

    The Least Guilty Guys In the Room

    The Enron legal case continues to unwind. A federal judge in Texas just allowed former Enron executive Christopher Calger to withdrawn his guilty plea to wire fraud charges. Calgar had been accused of fraud in connection with a 1999-2000 asset sale that prosecutors claimed violated a “theft of honest services” statute—a theory that’s been in […]

    / Apr 3, 2007 at 4:29 PM
  • Banks, Companies, Enron, JPMorganChase, legal

    Judge Nixes Enron Suit Against JPMorgan Chase

    One of the more creative Enron lawsuits was dismissed by a Manhattan federal judge yesterday. The plaintiffs were shareholders of JPMorgan Chase who said they bought the stock because of the company’s reputation for integrity and financial discipline but had been deceived because JPMorgan Chase was helping Enron, a major client. You can see how […]

    / Mar 30, 2007 at 9:04 AM
  • Enron, Kenneth Lay

    This, Of Course, Assumes That Lay Is Dead, An Assertion We Continue To Contend, But It’s For Charity, So What The Hey

    Ikea just isn’t what it used to be, you know? Once a cool, hip, Swedey design company, it’s basically devolved into just a run of the mill furniture store whose difficulty to get to is rivaled only by the fact that it charges over a hundred dollars to deliver something worth less than forty, playing […]

    / Mar 19, 2007 at 2:59 PM
  • Enron, Jeff Skilling

    Enron Enablers’ Request That Court That Thinks The Whole Enron Deal Was ‘Totally Blown Out Of Proportion And, To Be Honest, A Bunch Of BS’ Be Taken Into Consideration Denied

    U.S. District Judge Melinda Harmon has denied the pleas of Merrill Lynch, CSFB and Barclays PLC to delay a $40 billion lawsuit by former Enron shareholders and investors against them; the suit will now go to trial April 9. In their argument for a delay, defense for the banks—accused of playing a key role in […]

    / Feb 23, 2007 at 12:06 PM
  • Enron, Jeff Skilling, legal

    Enron: Now Even Less Criminal Than Ever

    The criminalization of Enron is really starting to unwind. The Houston Chronicle reported last night that the Justice Department won’t seek to overturn a fifth circuit appeals court decision throwing out most of the 2004 convictions of several Merrill Lynch bankers. The convictions for fraud and conspiracy of four Merrill executives were thrown out last […]

    / Feb 16, 2007 at 3:31 PM
  • Enron, Jeff Skilling, legal

    Jeff Skilling To Serve Just Six Months?

    Word is starting to spread that Jeff Skilling might not have to serve out the 24 years to which he was sentenced after his trial. Over at the Conglomerate blog, Christine Hurt lifts the following sentence out of the Fifth Circuit’s December 12th order denying Skilling bail: “Our review has disclosed serious frailties in Skilling’s […]

    / Feb 14, 2007 at 1:29 PM
  • Enron, legal, Malcolm Gladwell, White Collar Crime

    Questioning The Enron Case, Day 8

    It’s been eight days (or so) since Malcolm Gladwell’s article in the New Yorker got people talking about Enron again. Consider the Enron case officially re-opened. And by “officially” we mean “under debate on the interwebs.” So it’s not legally re-opened but there is at least a chance that the public understanding of Enron might […]

    / Jan 10, 2007 at 2:38 PM
  • Business Media, Companies, Enron, Malcolm Gladwell

    More Heat For Gladwell’s Enron Essay

    Wow. It wasn’t long-ago that Malcolm Gladwell was a media darling. Critical remarks on his writing came from only a few sources, including federal judge Richard Posner and writer Steve Sailer’s blog. But now he’s gone and challenged one of the central myths of our times–the Myth of Enron Evil–and all bets are off. The […]

    / Jan 9, 2007 at 10:26 AM
  • Companies, Enron, Malcolm Gladwell

    Gladwell’s Definitions Mysterious and Puzzling

    That Malcolm Gladwell article we pointed to the other day has been taking some hits lately. Brad DeLong totally harshes on the the Free Jeff Skilling buzz here. But more interesting, Steve Sailer points out that Malcolm gets the distinction between a puzzle and a mystery exactly backwards. Gladwell writes: “Osama bin Laden’s whereabouts are […]

    / Jan 4, 2007 at 11:16 AM
  • Business Media, Enron, Jeff Skilling, Malcolm Gladwell

    The “Free Jeff Skilling” Movement Grows

    Well. Okay. That headline may be a bit strong. But Malcolm Gladwell’s New Yorker piece on Enron certainly has definitely brought the issue of Jeff Skilling’s conviction and incredibly harsh sentence back into public discussion. At least if “people writing on the internet” counts as “public discussion.” Some recent responses: • Larry Ribstein asks: “So […]

    / Jan 3, 2007 at 4:27 PM
  • Enron, Jeff Skilling

    Puzzles, Mysteries and the Vindication of Jeff Skilling

    One of the great talents of Malcolm Gladwell is describing something lots of people have been talking about for a long, long time in a way that makes it seem freshly insightful. The latest New Yorker essay is a perfect example of this form. Gladwell argues that what really made Enron’s financial statements inscrutable was […]

    / Jan 2, 2007 at 2:05 PM
  • Enron, Fastow

    Deconstructing Fastow (‘s Sentence)

    That Andrew Fastow was only sentenced to six years in prison on September 26—a term that may be reduced to five, if his purported anti-anxiety drug addiction is deemed worthy enough for an in-prison drug treatment program—has a lot of people’s knickers in a twist. And probably likely so, if we’re to believe the hype […]

    / Nov 27, 2006 at 2:17 PM
  • Enron

    Opening Number: ‘We’re In The Money’

    “Enron: The Musical.” Opening on Friday on a stage way, way off Broadway — at Lambert Hall in Houston — the revue is a send-up of the rise and fall of the infamous energy company. In two acts, six local actors each play up to 10 roles, including those of the former chief executives Kenneth […]

    / Nov 27, 2006 at 1:31 PM
  • Enron, legal, White Collar Crime

    The Enron Guy You Never Heard Of Gets 5 1/2 Years

    Is there some special shame that attaches to being convicted in one of the biggest financial scandals of the era and yet still being a nobody? Probaby not. If he took the Ken Lay out, we’re betting he’d just end up in whatever ordinary Hell accountants usually go to. Former Enron Corp. Chief Accounting Officer […]

    / Nov 16, 2006 at 9:24 AM
  • Enron

    Enron Zombies Attack!

    They’re back from the dead. There are lots of them. And they are everywhere. This morning’s Wall Street Journal follows up on the announcement that top Enron trader Jeff Shankman is launching an energy trading hedge fund by tracking down a host of Enron alumni. It turns out that the crooked E on your resume […]

    / Nov 14, 2006 at 12:03 PM
  • Companies, Enron, Hedge Funds, traders

    Enron Zombie Hedge Fund

    Even as news broke today that energy trading had claimed another hedge fund casualty, a veteran hedge fund trader with a past to pause over is preparing a to launch a new hedge energy trading fund, according to Bloomberg. Jeff Shankman, the former chief operating officer of global markets at Enron Corp., plans to raise […]

    / Nov 10, 2006 at 4:23 PM
  • Enron

    Fastow Deposition Infiltrated By Ninjas Window Washers

    Our litigious younger brother points us to an interesting account of Enron former chief financial officer Andrew Fastow’s deposition, a few days back: Tensions were high [on the] first morning [of the eight and a half days of testimony], according to several people who witnessed the deposition. About 30 lawyers packed into the main conference […]

    / Nov 10, 2006 at 1:48 PM
  • Enron, Jeff Skilling, White Collar Crime

    Jeff Skilling: The Blogs Weigh In

    As it turns out, we’re not quite alone in lamenting the quasi-life sentence handed out to Jeff Skilling yesterday. Twenty-four years seems an awfully long time for what Skilling was convicted of to a lot of other folks as well. • Larry Ribstein says “the lynch mentality that has surrounded Skilling and Lay is appalling” […]

    / Oct 25, 2006 at 4:21 PM
  • Enron

    Mike Shaw: No Slouch In Bed The Shredding Department

    Ever think to yourself, “Hmm, I guess Bush was right this time.” Yeah, neither do we. Until now. Yesterday Jorge told CNBC that he doesn’t e-mail because, and this is paraphrasing, “it might end up the history books someday.” Perhaps, in light of the now publicly searchable database of Enron e-mails, he should’ve imparted such […]

    / Oct 25, 2006 at 1:36 PM
  • business school, Enron, HBS, Jeff Skilling

    Enron: Blame Harvard?

    Corrupting the young was one of the charges that got Socrates served hemlock. A day after Jeff Skilling received a 24 year sentence for his role in the destruction of Enron, Peter Cohan asks whether or not Harvard—Skilling was a Harvard Business School graduate—should bear some responsibility for its students misdeeds. And it’s not just […]

    / Oct 24, 2006 at 2:26 PM
  • Enron, Jeff Skilling, legal, White Collar Crime

    Skilling Gets 24 Years

    The verdict is in! Jeff Skilling got sentenced to 24 years for his role in the Enron collapse. Certainly one of the harshest white collar crime sentences on record but short of the record-breaking number that some had predicted. In our reader poll, 13% picked 21 to 25 years for his sentence. Sixty-three percent of […]

    / Oct 23, 2006 at 4:23 PM
  • Enron, Reader Poll

    DealBreaker Readers Low-Balling Skilling Sentence

    This is getting interesting! All the experts keep telling us the Skilling is probably looking at a very, very long sentence. Possibly more than twenty-five years. But so far in our reader poll, the DealBreaker readership is betting on a shorter sentence. Our of seventy-five votes, forty-eight votes have been cast for twenty years or […]

    / Oct 23, 2006 at 1:57 PM
  • Enron, Jeff Skilling, Reader Poll

    How Many Years Will Jeff Skilling Get: A DealBreaker Reader Poll

    Jeff Skilling is set to be sentenced this afternoon for his role in the collapse of Enron. Many observers are convinced that his could be the longest sentence ever for a white collar criminal. We have no idea where the judge will come out on this so we’re going to where we always like to […]

    / Oct 23, 2006 at 12:14 PM
  • Enron, Kenneth Lay, Lawyers, White Collar Crime

    The Ghost of Ken Lay Set Free!

    As expected, a federal judge voided Ken Lay’s conviction yesterday. The founder of failed energy trading outfit Enron had been convicted by a Texas jury of conspiracy and fraud for his role in the 2001 collapse of the company six weeks before his death. The judge in the case ruled yesterday that because Lay died […]

    / Oct 18, 2006 at 10:02 AM

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