Monday, August 11, 2003

No Honor Among Thieves: Enron, Banks, set up Arthur Anderson

'Some of the world's biggest banks worked closely with executives of Enron Corp. to hide the true nature of shady transactions from Chicago's Andersen accounting firm, according to a bankruptcy court investigation. ... the investigation stops short of clearing Andersen of wrongdoing at Enron, and some say any deception on the part of the banks did little more than help the auditors appear to be rigorous even if they were looking the other way. The investigation leaves unanswered whether Andersen was actually deceived or if it 'knowingly blinked,' said John Coffee, a Columbia University law professor who has followed the Enron case.'

From the Chicago Tribune

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