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1/25/2018 7:38:29 AM
Posted: 7/25/2002 3:04:32 AM EST
.gov is going to make everything A-Ok for investor's. These CEO's better watch out. Well I ask you, who is the master at cooking book's? Making the number's match whatever they think the public want's to hear. Enron and WorldCom, just preschooler's compared to the big boy's with decades of practice. The fox is in charge of the hen house on this one. What do you think? [smoke]
Link Posted: 7/25/2002 3:44:12 AM EST
Well, the GAO says that $17 Billion Dollars cannot be accounted for from 2001. That's not Enron's or World.com's investors and shareholders money, that's [u]our[/u] tax dollars! Wonder what happened to [u]that[/u] chunk of change? The Liberal Democrats would have us believe that there were no laws that prevented the looting of companies, fraudulent accounting practices, and making misleading statements under oath. They would have us believe that only by making [u]new[/u] laws can these evil practices be stopped. And that unelected bureaucrats would be the best folks to administer these new laws. The very same folks who couldn't balance their own checkbooks in the [b]House check bouncing scandal[/b] can tell the business world how it should operate! Well, the Liberal Democrats were in complete power for 40 years, what happened? Ladies and gentlemen, we need no new laws on this subject, what we need is the uniform enforcement of the same criminal laws against the same lawbreakers. As the President of Adelphia, and his two sons, were led away in cuffs, the answer is obvious - we don't need any more [b][i]steenking[/i][/b] new laws. The ones we have work just fine! If they are enforced! That's all. Simple enforcement! Eric The(Serious)Hun[>]:)]
Link Posted: 7/25/2002 4:53:53 AM EST
All this talk about cookbooks and chicken. I am getting hungry.
Link Posted: 7/25/2002 5:41:15 AM EST
Here's the Adelphia story: [url]http://story.news.yahoo.com/news?tmpl=story2&cid=509&u=/ap/20020725/ap_on_bi_ge/adelphia_arrests_16&printer=1[/url] And some pics: [img]http://us.news2.yimg.com/us.yimg.com/p/ap/20020724/capt.1027524539.adelphia_arrests_nyr101.jpg[/img] Caption: John Rigas, founder and former chairman and CEO of cable television giant Adelphia Communications Corp., is led from New York's main post office building by U.S. postal inspector police Wednesday, July 24, 2002, on his way to federal court in Manhattan. Rigas was arrested Wednesday along with his sons, Timothy and Michael, both former company executives, accused of looting the now-bankrupt company and using it as their ``personal piggy bank.'' (AP Photo/Louis Lanzano) [img]http://us.news2.yimg.com/us.yimg.com/p/ap/20020724/capt.1027526117.adelphia_arrests_nyr102.jpg[/img] Caption: Michael Rigas, son of Adelphia Communications founder John Rigas, is led from New York's main post office building by U.S. postal inspector police Wednesday, July 24, 2002, on his way to federal court in Manhattan. Rigas, a former Adelphia executive, was arrested Wednesday on charges of securities fraud, along with his father and brother Timothy, also a former company executive. (AP Photo/Louis Lanzano) Unfortunately, no picture of Timmy's arrest! Eric The('NuffSaid!)Hun[>]:)]
Link Posted: 7/25/2002 5:47:59 AM EST
Here's another nice item: [url]http://news.yahoo.com/news?tmpl=story2&ncid=716&e=4&u=/ap/20020725/ap_on_bi_ge/worldcom_9[/url] [size=4]Report: Feds Seek WorldCom Indictments[/size=4]] Thu Jul 25, 9:55 AM ET NEW YORK (AP) - Federal prosecutors plan to seek the indictments of two former officers of WorldCom Inc. for their suspected roles in the massive financial wrongdoing at the bankrupt telecommunications giant, The Wall Street Journal reported Thursday. The government also is likely to seek the indictment of former chief executive Bernard Ebbers, the Journal reported, citing people familiar with the matter. Federal prosecutors set a deadline of next Wednesday to file indictments against dismissed chief financial officer Scott Sullivan and former controller David Myers, the sources told the newspaper. They said prosecutors are seeking Myers' and Sullivan's cooperation to produce evidence against Ebbers, who resigned two months before the company admitted it inflated earnings by nearly $4 billion. WorldCom also could be indicted as a corporation under a plan being considered by the Justice Department, the newspaper reported. A conviction of the long-distance phone company could drive it out of business and hurt consumers and creditors. WorldCom spokeswoman Julie Moore told The Associated Press on Thursday the company had no indication that indictments were forthcoming. "That is flatly inconsistent with what federal prosecutors have communicated to the company," Moore said. The Justice Department declined comment Thursday. Ebbers' attorney, Reid Weingarten, did not immediately return a message left Thursday by The Associated Press. Calls to Myers' home were answered by a recording. His attorney could not immediately be located by the AP for comment. Sullivan's attorney declined to comment, the newspaper said. The Securities and Exchange Commission, citing "accounting improprieties of unprecedented magnitude," filed civil fraud charges last month against WorldCom. The Clinton, Miss.-based company admitted June 25 it falsely accounted for $3.8 billion in expenses. The inflated revenues allowed the company to report profits when it otherwise would have losses. That day, it fired Sullivan, who was subsequently accused by the company's auditor, Arthur Andersen, of withholding crucial information about WorldCom's bookkeeping. WorldCom on Sunday filed for bankruptcy under Chapter 11, the largest such filing in U.S. history. The judge overseeing the case approved the appointment Monday of an independent examiner to ensure an honest accounting of the company's value and investigate for mismanagement, irregularities and fraud. U.S. Bankruptcy Judge Arthur Gonzalez approved $2 billion in financing to keep WorldCom operating as it reorganizes its finances. He also granted the Justice Department's request for an independent examiner to ensure an honest accounting of the company's value and investigate for mismanagement, irregularities and fraud. Eric The(OldLawsAreWorkingJes'Fine)Hun[>]:)]
Link Posted: 7/25/2002 6:13:50 AM EST
All these folk's are dealing in chump change compared to what the .gov does to the taxpayer's. If the politician's want to be taken seriously, they need to clean up their own house before talking about their neighbor needing to mow the grass. [smoke]
Link Posted: 7/25/2002 6:16:42 AM EST
Amen, [b]Brother BeauBeaux![/b] I just hope the Republicans come to their senses in time to prevent even more federal intrusion into the economic engine of America, that has brought us so far, for so long! Eric The(FreeEnterpriseIsStillPossible)Hun[>]:)]
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