The ANNOTICO Report

The Stacked Deck, a Playing Card set, Enshrines 52 Corporate Baddies who
have "ravaged" their employees, customers, stockholders, and taxpayers.
Each of these Corporate "Pirates" in comparison, make fictional Tony
Soprano, or the real life Gambinos look like low level "gofers' (errand
boys).

This is a partial list: Ken Lay, Philip Anschultz, Douglas Faniel, Peter
Bacanovic, Ben Gilson, Kenneth Rice, Dean Buntrock, Joseph Nacchio, Andrew
Fastow, Jeffrey Skilling, Michael Kopper, Bernie Ebbers, John, Tim, and
Michael  Rigas, Mark Swartz, Ivan Boesky, Martin Glass, Charles Keating,
Steve Case, Mark Belnick, Don Carty, Charles Conaway, Dennis Kozlowski,
David Komansky, Christos Cotsakos, Mary Meeker, Henry Blodget, Philip
Purcell, Frank Quattronne, Jack Grubman, Henry Paulsen, Sanford Weill,
Scott Sullivan, Martha Stewart, Sam Waksal, Richard Scrushy, Al Dunlap,
Aaron Beam, Gary Winnick, David Myers, Kenneth Livesay.

The list makes me very angry in that a very high disproportionate number of
the group are Jewish, and by their actions bring discredit on all us Jews
by their conduct, which is the complete opposite of the stated intent of
the Jewish Torah and Talmud,  which is to strive to make the world a better
place.

The Degree of Financial Punishment in those Few cases pursued is a Pittance
compared to the Losses and Misery these Robber Barons caused.

And do not for one moment think this Dispicable Corporate Behavior is not
Pervasive.

Below is a more recent report of one of the "known" cases.

NOTE: The Stacked Deck can be contacted at <<www.thestackeddeck.com >>,
info@thestackeddeck.com, and (404) 237-9771

New York Times
By Julie Creswell
June 11, 2005

In the first significant shareholder settlement since Enron collapsed more
than three years ago, Citigroup has agreed to pay $2 billion to investors
who accused the bank of aiding Enron in its accounting scandal.

The agreement is expected to increase the pressure on other Wall Street
firms named in the lawsuit, including J. P. Morgan Chase, Merrill Lynch,
and Credit Suisse First Boston, to settle rather than risk a much bigger
payout in a court ruling.

"The potential exposure to the banks in this case could have been really
large," said Joseph A. Grundfest, a law professor at Stanford University
and a former commissioner at the Securities and Exchange Commission. "It
was not in the best interest of Citigroup to push the issue through to a
jury verdict."

The settlement, which comes on the heels of the $2.58 billion Citigroup
agreed to pay WorldCom investors last year, also signals the desire of
Citigroup's chief executive, Charles O. Prince, to clean up the reputation
of the giant financial services conglomerate, which has been battered in
the United States and aboard.

While the $2 billion settlement is certainly large, by being among the
first to settle the lawsuit, Citigroup may have cut itself a better deal.
If other Wall Street firms follow its lead, that total settlement could
reach about $6 billion, securities lawyers estimate. That is well below the
estimate of $10 billion that some lawyers were looking at as a potential
total settlement in the case.

"I think the general expectation has been that the Enron numbers would come
in a lot bigger than the WorldCom settlement, given Citigroup's alleged
role in Enron," said Sean Coffey of Bernstein Litowitz Berger & Grossmann,
which represented the lead plaintiff in the shareholder lawsuit against
WorldCom, which eventually reaped $6.13 billion for investors.

The Enron lawsuit accused Citigroup and other firms of creating false
investments in elaborate and complex Enron partnerships that had the effect
of deceiving investors and moving billions of dollars of debt off the
company's balance sheet.

Investors lost tens of billions of dollars on Enron, as the once
high-flying energy company plunged into bankruptcy in 2001. Under the
settlement, investors who bought Enron's stock and bonds from September
1997 to December 2001 - institutions, individuals and Enron employees -
will probably receive pennies on every dollar of their losses.

William S. Lerach, the lawyer representing the lead plaintiff in the Enron
case, the University of California, said he expected about 50,000 investors
to step forward eventually and claim a portion of the settlement. Under
this settlement, his firm will collect fees totaling 8 percent to 10
percent of the total amount received - or as much as $200 million - subject
to approval by the judge in the case.

Mr. Lerach said he was pleased with the amount of the settlement. "It's a
very favorable development for our side of the case," he said. He declined
to say whether other banks were also negotiating a settlement.

James E. Holst, the general counsel for the University of California, said
he, too, was satisfied with the settlement. "In this phase of the Enron
litigation, we think this is an outstanding result," he said.

To take effect, the settlement must be approved by Citigroup's board, the
board of regents of the University of California and a federal court in
Houston, where a trial of the lawsuit is expected to begin in October 2006.

Before its collapse, Enron was a cash cow for Wall Street, generating
millions in underwriting and advisory fees. Enron's bankruptcy filing and
the criminal and regulatory investigations that followed put the role of
the corporate advisers - Wall Street banks, law firms and accountants -
under harsh scrutiny. Citigroup and J. P. Morgan Chase agreed in 2003 to
pay nearly $300 million in fines and penalties to settle accusations by the
Securities and Exchange Commission and the Manhattan district attorney's
office that the two banks enabled Enron to misrepresent its true financial
condition before its collapse.

Last year, Citigroup increased its legal reserves to $6.7 billion, after
the WorldCom settlement. The bank says its reserves are adequate to cover
any payments related to pending cases, including Enron, Parmalat and
conflicts with analyst research.

Yesterday, investor reaction to news of the settlement was muted, and
shares of Citigroup ended down 4 cents, to $47.64.

Besides the WorldCom settlement, Citigroup also agreed to pay $75 million
to settle class-action claims filed by shareholders of the
telecommunications company Global Crossing, which filed for bankruptcy in
2002.

Mr. Prince is trying to wipe Citigroup's slate clean and put the bank in a
new direction. Earlier this year, Citigroup was told by the Federal Reserve
to delay any big takeover plans until it tightened internal controls and
addressed a number of regulatory problems in the United States and abroad.
Actions in recent months by Citigroup units in Japan and Europe have
damaged its reputation in those countries.

"It is a key priority for Citigroup to resolve major cases like this one
and to put a difficult chapter in our history behind us," Mr. Prince said
in a statement. Citigroup did not admit wrongdoing in agreeing to settle.

The question now is how quickly other Wall Street firms will follow
Citigroup's lead in light of the fact that delaying settlement in the
WorldCom shareholder lawsuit may have cost firms like J. P. Morgan Chase
dearly. On the eve of the WorldCom trial, J. P. Morgan Chase finally
settled for $2 billion. That was much higher than the $1.4 billion analysts
had expected it to pay and caused it to bump up its own reserves.

"Defendants who settle first or early tend to get better deals and there's
no better evidence than that than the WorldCom litigation," noted David
Hilder, an analyst with Bear Stearns.

A representative for Morgan declined to comment on the settlement.

Other financial institutions named in the lawsuit include the Canadian
Imperial Bank of Commerce, Barclays Bank, Deutsche Bank, Toronto-Dominion
Bank, Royal Bank of Canada and the Royal Bank of Scotland.

Enron's former chairman Kenneth L. Lay; its former chief executive, Jeffrey
K. Skilling; and its former accounting chief, Richard Causey, face
conspiracy charges in the case. The three have pleaded not guilty and their
trials are expected to begin next January.

http://www.nytimes.com/2005/06/11/
business/11enron.html?th=&emc
=th&pagewanted=print