Street smarts?

• Author: Peters, Charles
• Position: Wall Street - Brief Article

If you have doubted the depth of Wall Street's corruption, consider that the recent settlement by Citigroup and JP Morgan Chase, in which they agreed to pay Enron investors $2 billion and $2.2 billion respectively, followed by only a few months the agreement by those same two banks to pay WorldCom investors $2.6 billion and $2 billion, respectively. In other words, each of these respected pillars of the financial world were up to their ears in two of the greatest financial scandals of the era.

By the way, be sure to catch Enron: The Smartest Guys in the Room. George H and George W. can be seen cozying up to...