The Daily Enron

Big Banks Blocking Enron Worker Severance Money
Senate Dems Buck the Big Bucks

There seems to be no end to the indignities that Enron's former employees must suffer. First, they are given 30 minutes to clean out their desks. Then, they learn they have lost their life savings in Enron's retirement fund. Many have already seen banks repossess their homes and cars. Now, a handful of large banks are refusing to release $75 million set aside for employees as part their severance packages. It seems the banks would prefer that money be used to pay down loans they made to Enron before the Houston energy giant went bust last December. And, once in a while big money fails to buy results. That happened yesterday when Senate Democrats were able to blast strong accounting reforms out of committee and onto the Senate floor. » Read more at the

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

alternet logo

Tough Times

Demand honest news. Help support AlterNet and our mission to keep you informed during this crisis.