Nesting dolls

November 08, 2012 at 07:12 AM
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The ELNY saga begins not with ELNY itself, but with First Executive Corporation (FEC), which owned Executive Life of California (ELIC), which in turn owned Executive Life of New York (ELNY). Like a Russian nesting doll, the many different corporations that played a role in ELNY's ultimate failure can be stacked one atop the next.