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The Water Cooler
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Oh Please, Herman
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<blockquote data-quote="Billybob" data-source="post: 1629849" data-attributes="member: 1294"><p>Next;</p><p></p><p>[But scrubbed from Cain's official story is his long tenure as a director at a Midwest energy corporation named Aquila that, like the infamous Enron Corporation, recklessly dove into the wild west of energy trading and speculation-and ultimately screwed its employees out of tens of millions of dollars.</p><p></p><p>According to five lawsuits filed in federal court in 2004, Aquila's board of directors-which Cain joined in 1992-allegedly steered employees into heavily investing their retirement savings in company stock. At the same time, the company shifted its business model from straightforward energy generation to risky energy trading, an unregulated market made infamous by now-defunct Enron. The suits, later folded into a single, massive class action (PDF), alleged that Cain and top company officials violated a 37-year-old federal law requiring that employers manage employees retirement programs responsibly. (Cain's presidential exploratory committee did not respond to a request for comment.)]</p><p></p><p><a href="http://motherjones.com/politics/2011/05/herman-cain-aquila-lawsuit-2012" target="_blank">http://motherjones.com/politics/2011/05/herman-cain-aquila-lawsuit-2012</a></p></blockquote><p></p>
[QUOTE="Billybob, post: 1629849, member: 1294"] Next; [But scrubbed from Cain's official story is his long tenure as a director at a Midwest energy corporation named Aquila that, like the infamous Enron Corporation, recklessly dove into the wild west of energy trading and speculation-and ultimately screwed its employees out of tens of millions of dollars. According to five lawsuits filed in federal court in 2004, Aquila's board of directors-which Cain joined in 1992-allegedly steered employees into heavily investing their retirement savings in company stock. At the same time, the company shifted its business model from straightforward energy generation to risky energy trading, an unregulated market made infamous by now-defunct Enron. The suits, later folded into a single, massive class action (PDF), alleged that Cain and top company officials violated a 37-year-old federal law requiring that employers manage employees retirement programs responsibly. (Cain's presidential exploratory committee did not respond to a request for comment.)] [url]http://motherjones.com/politics/2011/05/herman-cain-aquila-lawsuit-2012[/url] [/QUOTE]
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