Tuesday, September 09, 2008

I'M GLAD THE FORMER EMPLOYEES WILL GET SOMETHING

but what's really interesting from a anti-Free Market Fairy perpsective are the institutions who were found liable for the Enron scam. They include several of the leading financial institutions in America:
Enron Investors' Lawyers Get Record $688 Million Fee (Update2)

By Laurel Brubaker Calkins and Jef Feeley

Sept. 9 (Bloomberg) -- Lawyers for Enron Corp. investors will get a record $688 million in legal fees for recovering more than $7.2 billion from the failed energy trader's lenders, auditors and directors, a judge ruled yesterday.

The lawyers spent more than 280,000 hours preparing for trial and negotiating out-of-court-settlements with Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Canadian Imperial Bank of Commerce, Lehman Brothers Holdings Inc., Arthur Andersen LP, Kirkland & Ellis, Enron's former outside directors, and others, according to Harmon's ruling.

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