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By Robert L. Borosage  Posted by Auveline Robinson (about the submitter)     Permalink
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Robert L. Borosage: Bank Shot: The President Shafts
Enron's Victims

Wall Street's investment banks just got another step
closer to making defrauding investors an accepted line
of business. And Enron's employees who lost their pensions
and the small investors who got fleeced in the Enron
frauds just got shafted again -- this time at the urging
of President George W. Bush.

Wall Street's most powerful investment banks and
their friends in high places lobbied the U.S. Solicitor
General Paul Clement to reject the recommendation of
the Securities and Exchange Commission that the Justice
Department support defrauded investors in their appeal
to the Supreme Court.

The case before the Supreme Court is called Stoneridge
v Scientific-Atlanta, but the Court decision will directly
impact the millions of victims of Enron's collapse
-- and say much about the honesty of U.S. markets.

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