July 7, 2002
Report: Enron Board Ignored Evidence
Sun Jul
7,11:18 AM ET
By PETE YOST, Associated Press Writer
WASHINGTON (AP) - Enron's board closed its eyes to evidence the company was heading for financial disaster, and claims by former directors that they were kept in the darkare untrue, a Senate report concludes.
"Much that was wrong with Enron was known to the board," the Senate Permanent Subcommittee on Investigations said in a scathing 60-page critique.
SIDE NOTE: Wendy Gramm, wife of U.S. Senator Phil Gramm (R-Texas) sat on Enron's Board of Directors. Mrs. Gramm's duties were to oversee the finances of Enron. Senator Gramm announced his retirement months before Enron collapsed. Senator Gramm has been lobbying hard against any further government regulations of U.S. corporations.
We need Ken Starr investigating this matter!