Did Arnold forgive Enron's debt to California? nt

[truizm]

[oldhat]

1. Yes.

Yes.

http://gregpalast.com/detail.cfm?artid=283&row=1

This, too:

http://gregpalast.com/detail.cfm?artid=286&row=2

[fizzana]

2. I'm not sure if that ever happened

I haven't seen any reports that this was ever settled. I live in CA and so far I haven't seen any report or evidence that this was settled.

I've no doubt that Palast's report is correct but his report does say that there was going to be a settlement, not that there was.

If anyone has any additional information please post.

[napi21]

3. I don't think so. These tapes are part of a law suit.

If he would have forgiven the debt, the cities or counties wouldn't be able to sue.

I just feel bad because when the people win the suits, what is there to get? As far as I know, Enron has very little left in assets. Yes, it's great to win and prove you were right all the time, but I don't know that it's possible to go after the wealthy former executives now for repayment of those illegal gotten gains.

[Journeyman]

4. Screw repayment. . .

The damage is done. People died because they couldn't afford electricity for their medical equipment or air conditioning. Business and lives were destroyed because operating costs forced them to close their doors (my best friend lost his grocery store because he couldn't afford the refrigeration costs).

No, I won't be satisfied until we haul Ken Lay's scrawny ass out into the dusty streets of Laredo and horsewhip the flesh off his bones. Leave his carcass in the streets for the buzzards, to serve as a reminder to the rest of the corporate pirates of the fate that awaits if they choose profit over people.

The bastards deserve a worse fate than this.

[AP]

5. Don't screw repayment. Both jail AND getting money back will be the only

things that stop them from doing it again.

Did putting Miliken and Boesky in jail end corruption? No. You have to remove the temptation, return the proceeds AND throw them in the clink.

[redqueen]

6. Oh, you'll just love this!

http://www.workingforchange.com/article.cfm?itemid=16769
SEC settlement illustrates the 'we work harder, they get the money' Bush recovery

AUSTIN, Texas -- Here's a special story about a big payday. Richard Strong, formerly of Strong Capital Management Co., will receive 85 percent of a sum estimated to be between $400 million and $700 million dollars. That's a lot of lettuce.

(snip)

No criminal charges, of course, because ripping off a lot of little people for millions is not a crime in this great nation. But see, here's the beauty part -- Strong will able to pay his $60 million fine with no sweat, and he'll have lots left over. According to the papers, it is unclear how many of the 1,075 employees at the company will lose their jobs after the sale.

(snip)

Well, yes, but this is a funny recovery -- quite droll, really. According to a report for the Center for American Progress by Christian Weller and Radha Chaurushiya: "The distribution of economic gains is upside-down in this recovery, compared to previous ones. Profits received a larger share of national income than wages. Hence, profits soared to new record highs amid the first 'job loss' recovery since the Great Depression. Adding to families' woes were rapidly rising costs; housing education and medical care jumped at double-digit rates in recent years. To maintain consumption levels, many families borrowed more. However, the debt is taking its toll. Families are being squeezed as they have to repay more and more debt, while the labor market is still trying to find its foothold. Many households lose this struggle and default on their loans, leading to serious ramifications for the economy. ... For the first time in a recovery, the share of additional income that has gone to corporate profits is greater than the share that has gone to employee compensation -- i.e., wages and benefits."

And let me point out that the reason we're in an "economic recovery" is because of increased worker productivity -- we work harder, they get the money.

more...

[Lindsey]

7. Call Henry Waxman's office...

I don't have the number with me but you can easily look it up online. I called and said that I wanted the faces of the motherfuckers (I didn't use that language and I don't know that I've EVER cussed on DU -BUT my brother worked for Enron and LOST EVERYTHING he had, PLUS, I live in California and was here when they were destroying lives here, PLUS I lost my governor who was HONESTLY ELECTED - Grey Davis because of what they did. THEY ARE EVIL MOTHERFUCKERS AND I WANT TO SEE PEOPLE PAY WITH THEIR LIVES SPENT IN PRISON UNTIL THEY DIE!!!!!!!!!!!! (oh, I can see it's time for a xanax :-)

[donhakman]

8. It was the main reason thr GOP wanted him gov.

[redqueen]

10. Hey, he was democratically elected

Don't you respect democracy?

...for the anti-Chavez people out there ;)

[lapfog_1]

9. But it's not just Enron

There were a number of companies that gamed the CA electric
market, Enron was just one. So the lawsuit can go forward and
judgments can the made against all of the guilty parties. Besides,
Enron still has some assets, and a lawsuit judgment will move the
claims of the plaintiffs in front of other claimants such as the
shareholders and, possibly, in front of note holders (banks)...
however the IRS and other taxing agencies are likely at the front
of the line.

Also, it may be possible to prove that the the corporation was
part of a criminal conspiracy engineered by officers of the
company... that can be used to sue the officers of the company
individually for their personal assets. This is hard to do, but
in Enrons' case, if it can get to a jury, they're toast.

I hope that in those tapes, there is conversations between traders
from different companies which demonstrate a clear conspiracy and
monopolistic practices.