This
paper explains that the Justice Department, the Senate and the Securities and Exchange Commission conducted investigations into Merrill Lynch's participation in deals to help
mask the true financial condition of Enron; Merrill Lynch denied any wrong-doing and said that its
dealings with Enron were proper and legal. The author points out that an allegation against Merrill Lynch was the purchase of three
barges from Enron; investigators claimed that Merrill Lynch did not buy these barges as a legitimate investment but purchased them to secure future
business from Enron. The paper reports that Merrill Lynch said that it is not unusual for employees of
brokerage firms to invest in companies that they do business with and that other large brokerage houses have made similar investments. Table of Contents Discussion Nigerian Barge Deal Departure of Analyst Other Dealings