'Ex-Enron CFO Says He Helped Hide Losses' Fastow sings!!!

[in_cog_ni_to]

Ex-Enron CFO Says He Helped Hide Losses
By ERIN McCLAM, AP National Writer
2 hours ago


Former Enron Chief Financial Officer Andrew Fastow arrives at ...
HOUSTON - Former Enron Corp. Chief Financial Officer Andrew Fastow testified Tuesday he ran partnerships designed to help the company mask as much as hundreds of millions of dollars in losses.

Fastow, 44, took the witness stand against former bosses Kenneth Lay and Jeffrey Skilling, whom federal prosecutors have accused of fraud, conspiracy and other charges in the spectacular collapse of Enron in 2001.

In the most highly anticipated testimony yet in the trial, he told jurors about a partnership, known as LJM1, set up in 1999 to help Enron "solve a problem" _ that it was facing future losses from its investment in a small startup firm.

"We were doing this to inflate our earnings, and I don't think we wanted to show people what we were doing," Fastow said.
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http://www.comcast.net/news/index.jsp?cat=GENERAL&fn=/2006/03/07/339994.html

[redqueen]

1. Will they convict Kenny Boy early enough

so the chimp can let him off the hook before he's impeached/ leaves in disgrace?

[Spinzonner]

2. So much for honor among thieves

I guess Omerta doesn't count with Corporate Criminals

[cliss]

3. Well well.

Let's keep this testimony in mind, as Ken Lay repeatedly has claimed, "my underlings deceived me".

Of course, Fastow is as corrupt as the rest of them. He created a Foundation with stolen money. His wife purchased millions of dollars worth of art work.

Corrupt, baby.

[MADem]

4. Sing, sing, sing, sing!!!

Everybody's got to sing!!!!