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By danandnora
December 19, 2001

Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light. How are these posts selected? Click here to find out and nominate a post yourself!


"I have no sympathy. (Allowing high-roll gamblers to whine before Congress serves no legitimate purpose.)"

While no one should put his or her entire savings into one stock as Charles Prestwood did, I see no mention of him being a "high-roll gambler" nor do I see a demand for accountability as "whining." Clearly, Mr. Prestwood, is a pawn in a political game being played out before Congress... and that, I imagine, is why EMS states that it has "no legitimate purpose." As a shareholder who lost money on ENE, I'm not looking to blame anyone. I'm not signing on to any class action suits. I'm not moaning about the share price. I'm not even objecting to the "stay-on bonuses" that ENE handed out to 500 of its employees. I still hold my ENE Drip, but no longer contribute to it.

I want one thing to happen - I want to know why ENE failed to disclose certain financial details that, upon disclosure, caused this company to deflate. And I want accountability. If Lay, Skilling, Fastow and AA were deceptive then they should face the proverbial music. If not, then they should be exonerated and allowed (in Lay's case) to remain at the helm. However, since they are not especially forthcoming with these details, someone needs to make them talk - either the SEC or the Labor Department or Congress. There will be testimony and there will be political grandstanding and there will be slanted soundbites in the media and ill-informed reporting on CNBC. So, what else is new? Along with all of that, there will also be some facts and details, which will shed some light on what brought ENE down. The devil will be in the details - not in the testimony of Charles Prestwood or TMFOtter, nor in the press reports of the national media.


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