Nov. 01, 2002 - 21:30 MST

THE WONDERING JEW

Wolves In The Hen House ?

Echoes of the repercussions are bringing Enronmoronies to the bar. Enron's former Chief Financial Officer Andrew Fastow was indicted Thursday on 78 federal counts alleging he masterminded schemes to artificially inflate the energy company's profits and skim millions of dollars at shareholders expense.

Are we going to have the "Alibi Circle," now ? The accused group standing in a circle and each man pointing to the man on his right and saying, "Its his fault," "He made me do it," "I was misled." And so on and so on. In the end I would like to know just how much of the pilfered pelf is going to be returned to the 401k folk and others who were basically swindled by the dishonesty of the people who should know better but went after the lions share and what little was left over also.

Harvey L Pitt the chairman of the Securities and Exchange Comission has been under fire for quite some time. I think that Molly Ivins outlined the problem with him quite some time ago. Now we have a William H. Webster (no relation to Noah Webster I hope) who has been selected to head a new board overseeing the accounting profession. It says in the article by Stephen Labaton of the New York Times, "Webster was solicited for the board by the White House and Pitt after another candidate was criticized by the accounting profession as being too aggressive." (Huh, we don't want him in there - he might make us behave)

There are three investigations now looking into the way that William H. Webster was chosen to head the new board.

Seems to me that the choice of people to whip the accounting profession into so called shape are definitely not qualified due to their past dealings with the scoundrels that caused this whole damn mess in the first place.

Confidence in our government looks to me as if it is headed for the dumps due to the scandalous things now going on.

Oh, by the way, "The White House expressed support for Webster as well as Pitt, who did not inform other commissioners before their vote that Webster had led the audit committee of a company that was facing fraud accusations.

The wolves got us in the marketplace where we work. They seem to be trying to do damage control in a shifty manner and to my way of seeing things do we really need Wolves In The Hen House ? . . . . . . . . . . .

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