Re: [CANSLIM] Off Topic: Enron and Concressional Hearings

From: "Tom Worley" <stkguru@netside.net>
Subject: Re: [CANSLIM] Off Topic: Enron and Concressional Hearings
Date: Sat, 9 Feb 2002 12:32:38 -0500

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Hi Andreas,

A Congressional hearing is a form of investigation. It is not a judicial
process, although Congress does have the ability to cite persons for
contempt of Congress, and take legal action. Congress can issue a subpoena,
forcing someone to appear, although they can use the Fifth Amendment to the
US Constitution (protecting against self incrimination) to avoid actually
testifying. Persons testifying do so typically under oath, so if they lie
there can be later legal consequences. In all, I think there are nine
different Congressional committees which are holding, or will hold,
hearings. Many will ask the same people the same questions. They each have
their own agenda, such as Labor looking at how the employees were treated,
especially on their 401K. Unfortunately, politicians being politicians, many
members of these Congressional committees are more interested in looking
good on camera to their voters back home than in truly finding out the truth
of what happened, and how to prevent it happening again.

Enron, and its auditor Andersen, makes for interesting activity in Congress.
Something like 85% of all members of Congress accepted political
contributions from one or the other, or both. So there is now a lot of butt
covering going on as well. Acting tough on Enron is an easy way to try and
show that their money meant nothing, and never had any influence. yeah,
sure, right!!!

Tom Worley
stkguru@netside.net
AIM: TexWorley
- ----- Original Message -----
From: "Andreas Himmelreich" <judgejimmy@web.de>
To: <canslim@lists.xmission.com>
Sent: Saturday, February 09, 2002 6:31 AM
Subject: [CANSLIM] Off Topic: Enron and Concressional Hearings


> Hi,
>
> saw some live coverage about the concressional hearings on CNBC.
> First of all, I liked it that a lot of enron guys got hammered pretty
well,
> some real strong language, you usually do not hear.
>
> Nevertheless I got a question: What is a concressional hearing and
> when does it get set up? Is it like in a courtroom, has it a judge?
>
> Thank you
>
> Andreas
>
> -
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