How big is the Enron scandal going to be in the end? I’ve read a ton of stories I wanted to link to, but I’m not linking to any of them. Some highlights: Enron’s former CFO has hired David Boies to represent him. Seems like he made plenty of cash before the implosion, and sees himself as being in real trouble. The Democrats are bludgeoning President Bush with this scandal, but Enron doled out plenty of cash to both parties over the past few years. I guess when it comes to taking cash handouts, there’s plenty of bipartisan cooperation. Arthur Andersen is in real trouble because its auditors destroyed documents that people are now very interested in seeing. Some people are speculating that this could be the end of Andersen altogether. They doled out plenty of cash to politicians in both parties as well. The New York Times reports that 29 Enron insiders sold off 17.3 million shares of stock starting in 1999 and ending in mid-2001, worth a total of $1.1 billion.
Also worth paying attention to is the list of people who have recused themselves from the Enron investigation. So far we have the attorney general (and his chief of staff), the Texas state attorney general, and the entire US Attorney’s office in Houston. In the last article I linked to, we have the Texas state AG’s spokesperson saying that he won’t recuse himself. I guess he changed his mind.