Tuesday, January 20, 2004

Citigroup's Cash Bonanza: What Enron?
Citigroup hits 18b/year. wow. is that in enron earnings, or real earnings, citi?

too bad you can only trust them as far as you can throw the nearest citigroup banker (which is something you may want to do sometime). citi was involved up to their eyeballs financing some of enron's shadiest deals with Fastow. incidently, fastow is facing 10 years without parole. skilling is next i hope...along with pai, lay, mark, kinder...the whole lot of them. (i'm reading "Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron")

to name names: cibc, csfb, citi, mckinsey, jp morgan, merril lynch, arthur anderson, dynergy, calpine (which i, shamefully, actually own part of), powerex and a slew of others (their names elude me right now) were all looking like schmoes to me after reading this book. the banks and arthur anderson knew full well what enron was doing to their shareholders and they helped them anyways. they knew. and didn't care. they all vied for enron's 'money'. how can we trust them now?

good to be in with the credit union (vancity) these days.

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