The Enron Nine

For those already exhausted by the torrent of Enron disclosures, I would not recommend reading the "Consolidated Complaint" filed by defrauded investors for a literary experience. The class-action lawsuit is 500 pages long, not counting appendixes, and dense with tedious legal repetitions and the mind-numbing complexities of Enron's financial transactions, most already known. On the other hand, this document tells an eye- popping story of how the Wall Street system really works, and it resonates with political significance because the plaintiffs' lawyers are redirecting public outrage--and multibillion- dollar damage claims--at the best and most powerful names in American finance. Nine leading banks and financial houses have been added as defendants and depicted as intimate insiders in what the lawsuit calls the "Enron Ponzi scheme." They were the engineers, it is asserted, who devised manipulative deals concealing the truth. They were also principal beneficiaries of this massive scam.
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thanks to Cursor