Tag Archives: Merrill Lynch

November 21, 2011

A Nigerian Barge Puzzle

I have long said that the Nigerian Barge case was the easiest of all the Enron cases to understand. There was no accounting. No sub of a sub of a sub you had to keep track of. It basically came … Continue reading →

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January 12, 2011

James Brown Appeals To Fifth Circuit For New Trial

James Brown swings again! The former Merrill Lynch executive is appealing the district court’s order denying his Motion for New Trial for perjury and obstruction of justice. It is a fascinating brief. I was particularly taken by this passage: Whether … Continue reading →

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October 22, 2010

James A. Brown Speaks to WSJ

The link requires a subscription so here is the article in full. I love seeing James Brown vindicated! Retrial Dropped, Enron Figure Talks By JOHN R. EMSHWILLER James A. Brown didn’t act like a guilty man eight years ago when … Continue reading →

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August 11, 2010

Merrill Lynch’s Involvement With Hard Assets (Such As…Oh… Picking Something At Random….Nigerian Barges?)

One of the questions I occasionally come across, both directly from people and rhetorically from journalists attempting to find fault with the Nigerian Barge deal, is what in the name of cheeze whiz was Merrill Lynch doing buying a barge? … Continue reading →

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July 22, 2010

Nigerian Barge Trial Testimony: Katherine Zrike Denies Parking Arrangement With Enron

As I learn more about Katherine Zrike, in house counsel for Merrill Lynch, I become more baffled by the prosecution and more proud of the defendants for withstanding this idiocy (as if I weren’t already proud of them!) This is … Continue reading →

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July 21, 2010

Prosecutorial Abuse In The Nigerian Barge Case

The Enron Task Force has a long history of prosecutorial abuse, which has been documented well each time a new revelation comes to light. But the problem with documenting it is obvious: you have to have the documents! They withheld … Continue reading →

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July 18, 2010

The Theoretical Stock Price After The Nigerian Barge Deal

On June 28, 2010, I somewhat glibly touched on the subject of Enron’s stock price as it related to the Nigerian Barge Deal. I said: Do you honestly believe that if Enron reported $12 million less on a net income … Continue reading →

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January 8, 2010

Prosecutors Drop Case Against Daniel Bayly

Another victory for the good guys! Via The Chron: Former Merrill Lynch executive Dan Bayly should not be retried on accusations that he and others helped Enron Corp. inflate earnings through the sham sale of Nigerian barges, prosecutors said in … Continue reading →

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January 7, 2010

Daniel Bayly Settles With SEC

The Securities and Exchange Commission announced today that, on December 31, 2009, the U.S. District Court in Houston entered a final judgment in the Commission’s civil action against Daniel H. Bayly, former global head of investment banking at Merrill Lynch. … Continue reading →

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December 28, 2009

Today In Enron History

On December 29, 1999 Enron and Merrill Lynch finalized their written agreement concerning the Nigerian barge deal. The Nigerian Barge deal entailed Enron selling to Merrill Lynch its interest in Nigerian barges. Enron bought them back six month later, and … Continue reading →

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June 18, 2009

Nigerian Barge Deal Legal Status Primer

Preface Here is a very brief primer about the Nigerian Barge Deal. It is meant only to give an overview of the challenged transaction of the December 1999 deal and does not delve into the legal cases of the four … Continue reading →

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June 17, 2009

Merrill Lynch Execs Can Be Retried

Unbelievable: via AP: A federal appeals court says the retrial of three former Merrill Lynch & Co. executives connected to an Enron Corp. deal would not violate their constitutional protections against double jeopardy. The 5th U.S. Circuit Court of Appeals … Continue reading →

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March 12, 2009

Madoff Pleads Guilty: Cara & Friend Discuss

On Tuesday, I received a flash-bang email from the NYT announcing that Madoff was about to plead guilty and would accept a life sentence. I forwarded it to a friend with a note: If it’s a life sentence, why not … Continue reading →

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March 5, 2009

Merrill Lynch Just Taunting Cuomo At This Point

Dealbreaker, despite the fact all the writers are Jeff Skilling haters, is hands-down the best place to laugh your butt off while reading about finance. To whit: Cityfile reports that Merrill Lynch is in the process of hosting a Global … Continue reading →

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March 5, 2009

Cuomo Subpoenas Merrill Execs

WSJ continues documenting the drama over at Merrill Lynch. After Thain got the everliving hell questioned out of him, New York state’s attorney general, Andrew Cuomo, has issued subpoenas to several top Merrill Lynch & Co. executives who were each … Continue reading →

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