"Confidence in our capital markets cannot be maintained if the public believes everything is a game to enable corporations to rely on lawyers and other professionals, who, in turn, rely on a literal reading of the law or governing principles," said Pitt. "That, in my view, is a major flaw in our system that Enron has exposed."
Lay: Skilling Knew of Enron Partners
In 17 pages of notes released Tuesday, Lay appeared to contradict Skilling's recent testimony at a House hearing. Lay was quoted as saying that Skilling presented board members with the idea for one of the key partnerships. In another instance, Lay said, Skilling would have been responsible for tracking the financial performance of one of the deals.
Washington to Unemployed: Too Bad, Life's Hard
The Senate twice has passed - unanimously - a straightforward, 13-week extension of unemployment benefits. The House Republican leadership persists in hitching the benefit extension to the lame horse of its economic "stimulus" package of tax cuts, mostly for business.
19 Dead, 8 Hurt in Mideast Conflict
JERUSALEM (AP) - Israel launched a sea and air attack against Yasser Arafat (news - web sites)'s Gaza office and killed four guards early Wednesday, a day after raids by both sides left 15 dead in one of the bloodiest periods of the Palestinian uprising.
Profits trump patriotism
The trend of American companies avoiding taxes ‘offshore’
Enron paid no taxes in four of the past five years, yet was due to get a $254 million tax rebate from the U.S. government under President Bush's ridiculous economic stimulus package, now fortunately defunct. The company paid $17 million in taxes in 1997, but during the four years it paid nothing, it also got a total of $381 million in tax rebates by using more than 874 offshore accounts.
No comments:
Post a Comment