Enron shareholders to be helped by government

Enron shareholders to be helped by government

Strange! to say the least. After settling the crinimals for ~10 cents on a dollar Profit!, as a fine, the US Government has gotten 'religion' and is going to help the 'losers' in a lawsuit.

I wonder! Should the 'Help' be trusted? Is the move a facial only? Or, is this an Election ploy? After all the damage this Administration has facilitated, its like they found a couple of old barn doors, propped them up by the ashes, and are now making a cerimony out placing a chain and lock on the doors. All the while the ashes are cold!

Not if Linda Lay has anything to do with it...
:o
Widow of Enron’s Lay challenges asset seizure
2 Dec. 2007 - Says husband committed no crimes, government can’t take $12.7 million

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The widow of Enron Corp. founder Kenneth Lay says her husband didn’t commit any crimes, according to court documents filed Friday in the ongoing effort by the federal government to seize nearly $13 million in assets from his estate. Linda Lay’s claims were in response to an October 2006 civil action filed by federal prosecutors after her husband’s convictions for his role in Enron’s collapse were vacated following his death last year.

The civil action was the only way federal authorities could try to seize $12.7 million in assets they claim were “proceeds of the fraud proven in the criminal case against Lay.” Kenneth Lay had been convicted in May 2006 of 10 counts of fraud, conspiracy and lying to banks in two separate cases. But his convictions were vacated because of his July 2006 death from heart disease.

Prosecutors are looking to take three things: $2.5 million of the value of the couple’s condominium in one of Houston’s most exclusive high-rises; $10.2 million from a partnership named for both the Lays; and nearly $23,000 in a bank account. Linda Lay’s response to the civil action comes after U.S. District Judge Ewing Werlein on Nov. 14 rejected a request from her to halt the government’s bid for the money.

In the response, Linda Lay “denies any criminal activity on the part of Kenneth L. Lay, including his alleged participation in securities, fraud, wire fraud, conspiracy or money laundering.” She also denied that any of the property or assets officials are trying to seize was involved in money laundering or acquired through criminal conduct.

More [url:
http://www.msnbc.msn.com/id/22066234/[/url]

Investment banks got enough problems at the moment...
;)
Supreme Court declines to hear Enron investors case
Wednesday, January 23, 2008 WASHINGTON — The U.S. Supreme Court dealt Enron investors a defeat on Tuesday, rejecting their lawsuit that alleged securities fraud by Wall Street investment banks that did business with the once mammoth energy company.

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Enron stockholders may seek to revive their case in the 5th U.S. Circuit Court of Appeals, which ruled against them previously.

The chances that Enron shareholders can recover some money dimmed a week ago with the Supreme Court’s decision against investors in a separate suit. It alleged that two suppliers doing business with a cable television company engaged in securities fraud. Tuesday’s rejection came without comment in a routine list of rejected cases.

The Supreme Court considered a similar issue in the investors' lawsuit against suppliers to the cable TV company.

[url=http://www.chinapost.com.tw/international/2008/01/23/140165/Supreme%2DCourt.htm:
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