The fix was in at a very high level
“Enron lied to investors about its financial condition, but it could not have done so without active help from its friendly bankers. And that help constituted fraud.
That was the conclusion reached by the Securities and Exchange Commission and the Manhattan district attorney as they disclosed settlements yesterday with two of the nation’s largest financial institutions, J. P. Morgan Chase and Citigroup.”
However, it appears the fix is still in, as the penalties were fines, not criminal indictments. Tell me, why aren’t the amoral thugs responsible for this defrauding of the public for billions in prison, rather getting away with no personal penalty at all?
“J.P. Morgan will pay $135 million, and Citigroup will pay $120 million to settle the investigations, according to a statement issued by the Securities and Exchange Commission, which said the banks had also settled a criminal investigation with the Manhattan district attorney in New York.”