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Enron Boss Gets 6 Years, Says Firms Were In On Fraud

Bloomberg reports that former Enron chief finance officer Andrew Fastow got banged up for 6 years earlier this week, and then filed a declaration in an investor securities fraud case which heaped some of the blame for Enron's demise on the company's bankers.

The Latest Financial News In Brief

Financial News reports that Aberdeen Asset Management has confirmed that funds under management fell almost 4% in the 5 months to the end of August due to turbulent market conditions.

THAT Credit Suisse Cost-Cutting Memo

As the media (including us) tended to feature only the more frivolous suggestions Brady Dougan, the head of Credit Suisse's investment banking division, made in his recent memo to staff on the subject of cost-cutting, we thought it only fair to put the memo in context. Here's the full text..

Another Trader Presses The Wrong Button!

Another day, another botched trade. And in Japan (again) too. Japan's Financial Services Authority reckons that there were around 14,000 of them in 2005 (not all of which, of course, cost an arm and a leg).

Ex-WorldCom Boss Starts Jail Time Today

Bernie Ebbers, the one-time CEO of WordCom, heads off to a federal prison today and will begin his 25-year sentence for engineering the largest fraud in US corporate history, which evenually led to the $11bn collapse of the company.

Enron Boss Faces Sentence A 'Changed Man'

Well, former Enron chief financial officer Andrew Fastow, the man who many feel was the evil mastermind behind the dirty dealings which caused the demise of Enron, is due to be sentenced in Houston later today.