Andrew Fastow, erstwhile Enron CFO, was charged with fraud for his financial shenanigans at Enron, designed to conceal the company's huge losses.
The spectacular cascade of corporate collapses over the last year began with Enron, and Mr. Fastow became the most senior former Enron official to join executives of Tyco International, Adelphia Communications, WorldCom and ImClone Systems in facing criminal charges.I wonder when we'll hear an apology from the critics who complained that corporate crooks weren't being pursued by the Bush administration. (Not to mention any names, Pat.)
Comments (1)
Sure, the made-for-TV-news arrests have been good, but it would be much more heartening if instead of just a half-dozen or so executives, we'd be sure that all those who illegally stole money were out of the system. That'd increase confidence in the market -- we might just see the Dow hit 8000 again. However, the current adminstration doesn't seem to have that in mind. Actually, when it comes to the economy/markets, it doesn't seem to have anything in mind. (When was the last time you heard the administration propose *anything* economic? The 2001 tax cut?)
Posted by Partha Mazumdar | October 3, 2002 2:54 PM
Posted on October 3, 2002 14:54