Wednesday, January 23, 2008
Reactions to the Supreme Court's denial of cert in the Enron appeal:
"Our thinking was, if there was room for private actions, we'd be in a situation of a litigation free-for-all, that there'd really be no limiting principle here," said Robin Conrad, an executive at the U.S. Chamber of Commerce.
"From a public policy standpoint, it's an outrageous result," said former SEC Commissioner Harvey J. Goldschmid. You can't turn down Enron without understanding the signal you're sending." WPost, Court Declines Enron Investors' Appeal. For other reactions, see NYTimes, Supreme Court Won’t Hear Complaint by Enron Investors; WSJ, Justices Rebuff Enron Holders.