--- Begin Message ---
Draft of Questions for:
Mr. Herbert S. ("Pug")Winokur
Chairman, Finance Committee, Enron
in response to his Congressional testimony today:
Today in Testimony you said that the Enron bankruptcy was a result of
management and Arthur Anderson and Vinson Elkins lying to you and the other
directors and not doing their job, can you explain:
1. Why your company Dyncorp uses Arthur Anderson as it auditor? I am
assuming that you as a lead investor and board member in DynCorp would not
jeopardize your investment and shareholder's investment by retaining an
auditor who had mislead you and a board in a manner that would lead to such
a collapse.
2. Why as a member of Harvard Corporation's board, would you have less
foresight than your largest money manager Highfields Capital as well as your
fellow board members, who all had the foresight to make substantial profits
from selling Enron stock while you and your board members were in this state
of "unaware" you so well described. How is that Highfields had access to
this information and you did not?
3. As a member of Harvard Corporation's board and a GP of Capricorn
Holding's partnerships, are you taking the appropriate action to have Vinson
& Elkins and Arthur Anderson removed from any relationship or work for any
of the investments of these entities? Under the laws governing your
responsibilities, what is the liability to you and your fellow fiduciaries
of firms that you say are responsible for causing the biggest bankruptcy in
history and doing so my helping management mislead the board.
4. Is the timing of the Power's report and your testimony AFTER all the
Arthur Anderson and Enron documents had been shredded and Enron OnLine, the
Enron group with all the large mysterious trading with Citigroup, JP Morgan,
UBS, DeutscheBank and the other large banks active with Enron in the
offshore derivative and gold markets, indicative or more than coincidental?
5. Given the performance of your auditor on Enron and on DynCorp, do you
believe that the federal government should continue to outsource large
amounts of its most sensitive information systems and accounting and
payments systems to companies like Arthur Anderson?
6. Do you believe that it is a conflict of interest for your company DynCorp
to manage many of the information systems for the people working on criminal
investigations of you and your colleague's role in Enron fraud and
obstruction of justice and fraud and obstruction of justice by their
accountants and attorneys?.
7. Would you care to comment on why HUD and DOD and some of the other
federal agencies which your company DynCorp manages highly sensitive
information systems are reported to be missing
so much money; over $3 trillion since fall of 1997. Do you have any idea
where that money is or how it was laundered out of the country into offshore
accounts? As a highly experienced financial fiduciary with intimate
knowledge of the federal information systems as the former Chairman and
current board member of DynCorp, perhaps you could illuminate for use some
of the ways that this much money could be fraudulently moved out of the bank
accounts held by the NY Fed and its members as depository and trustee for
these agencies and moved off shore through thousands of off shore
subsidiaries and special purpose entities?
8. In light of the fact that the federal government is paying millions to
have private contractors manage their accounting and information systems,
yet those systems never seem to work and now trillions is missing, would you
care to comment as to whether outsourcing our financial systems to private
contractors whose investors profit from other companies who are selling good
and services to these agencies makes sense?
9. Under the standards of sound fiduciary management, you as board member
and chair of the Finance Committee are responsible to ensure that the
company's finances are properly managed.
If you are someone who is so easily mislead by management, attorneys and
auditors do you consider yourself competent to serve on any boards of
directors of organizations with large
financial and resource responsibilities? Based on the results to
shareholders, creditors and taxpayers, do you draw any connection between
the performance of Enron or government agencies losing billions of other
people's money and your performance as board member or contractor?
--- End Message ---
