The Enron Bankruptcy was the largest in America's history. Tens of thousands of investors were defrauded out of billions of dollars. Enron is bankrupt and even secured creditors may only get pennies on the dollar. Most Wall Street houses had a strong Buy recommendation on Enron up until the very end. At the same time they were often participating in investment banking, underwriting and/or secondary financing business that Enron controlled. Often this affected their "buy" ratings. They failed to disclose this to their investors creating potential liability.

"Kenny Boy" Lay

Kenneth Lay, or "Kenny Boy", as he has been called by President Bush, headed what was once the most admired company in America. Mr. Lay now refused to testify on Capitol Hill, before both Senate and House, of the biggest corporate bankruptcy in history. Ken Lay decided not to explain the reasons why he had to lay off his employees' and how their pension plans were wiped out because they were full of Enron shares. At a time when thousands of Enron employees were defrauded of their pension plans and made jobless, Enron's 2001 proxy statement proudly announced that "Kenny Boy" will remain on the board of directors but will retire with a lifetime pension of $475,000 (£334,000) a year.

The Justice Department ordered the White House to save records of contacts between Bush administration officials and Enron as part of the department's criminal investigation into the collapse. The directive covers the period since 1999, and thus includes the last two years of the Clinton presidency. But the focus will be on the last 12 months, when, critics charge, Enron and Mr Lay, who had contributed over $6m to Republican coffers since 1990, were virtually writing the new administration's energy policy.

"Kenny Boy" and his wife Linda live in an apartment worth more than $7m in a luxury Houston high-rise – and Texas is one of a handful of states that lets bankrupts keep a primary residence, however valuable. They own $20m of property in chic Aspen, Colorado. Mr Lay's share portfolio, despite its 2.9m Enron shares (now virtually worthless), is valued at $10m. He also has a severance agreement that could net him $25m.

A report in the Wall Street Journal, meanwhile, claims that Mr Lay attended a November 1997 meeting setting up arrangements for the secret partnerships that led to Enron's collapse four years later. This casts strong doubt on the claim that he knew nothing of what was going on.

Sharon, leaning towards his Foreign Minister Peres, said:

"I want to tell you something very clear, don't worry about American pressure on Israel, we, the Jewish people control America, and the Americans know it."

Washington Report on Middle East Affairs
WRMEA - 10 Oct 2001

A little-known and wholly irrelevant fact about the Enron financial scandal

... summarised from Actualité juive (Jewish current affairs), Paris, January 24, 2002, a source which presumably does know:

ALTHOUGH the maiden name of Linda Lay is not known (she is the wife of Ken Lay, CEO of Enron -- the most costly scandal since WTC, and Actualité juive insists that neither she nor her husband is Jewish, she was the yearly biggest donor of the Houston Holocaust Museum. Mrs Lay (i.e., Enron for at least half of the amount) would pay ten percent of the museum's annual expenses running at $3 per year, i.e. $300,000. In March, the couple was due to preside over a gala fund-raising dinner for the museum, the guest of honour being George W Bush lui-même, the bretzel man. (courtesy of David Irving's webiste)

In the Oval Office, George W. Bush insisted that a portrait of his idol, Benjamin Franklin, hangs prominently on the wall behind his desk. It was Benjamin Franklin who said: "The menace, gentlemen, is the Jews. In whatever country Jews have settled in any great number, they have lowered its moral tone; depreciated its commercial integrity." (Passage of Benjamin Franklin's speech in a "CHIT CHAT AROUND THE TABLE DURING INTERMISSION," at the Philadelphia Constitutional Convention of 1787. This statement was recorded in the diary of Charles Cotesworth Pinckney, a delegate from South Carolina.)