FASTOW Plea Talks in Enron Case Said to Unravel

NY TIMES ^ | January 10, 2004 | KURT EICHENWALD

[Liz]

So Lea struck out on the plea deal.........

As Madame DuFarge said, "Marie Antoinette, you ain't gonna get a plea deal"............LOL.

I just hope all those years in jail isn't gonna put a crimp in Lea's shopping. Oh well, there's still EBay. I wonder if they accept payment from offshore banks?

[Support Free Republic]

Got a minute?

I'd really like you to scratch my ears,
or help out FR.

[Jimmy Valentine]

They need to stop pussyfooting with all of these losers and throw then in the can for an extended period of time. In addition, all and I mean ALL of their assets should be liquidated and used to repay stockholders.

When these clowns get out of jail they should get a prison made suit, $100.00, and a bus ride back to the nearest city, along with an admonition to live a better life.

Regards,

[PGalt]

Thanks for the post. Very interesting. GO FEDS!!!

[steve50]

When these clowns get out of jail they should get a prison made suit, $100.00, and a bus ride back to the nearest city, along with an admonition to live a better life.

Not likely. I heard one of the Fox talking heads say the Lay family was complaining about being down to their last $10 million a few months ago. IIRC, the amount he cashed out with over the last couple years of operation would make that almost impossible.

A couple years working on the tennis game at club fed and back on the streets to enjoy the loot stashed offshore will be about all that comes of this. Probably a pardon to get them all back in the business world and eligible for government contracts/lobbyist jobs as well.

[marvlus]

Skilling and Lay still have to be dealt with, and I'm hoping, harshly!

[Liz]

A couple years working on the tennis game at club fed and back on the streets to enjoy the loot stashed offshore will be about all that comes of this. Probably a pardon to get them all back in the business world and eligible for government contracts/lobbyist jobs as well.

After all, the Fastow's were "philanthropists." The Fastows showed their "tolerance and compassion" through the (gag) genorosity of the "Fastow Foundation."

Of course the fact that the Fastows screwed Enron shareholders, pensioneers, and jobholders is immaterial.

(Sniffle) Gosh, don't they realize the Fastows are victims (sob)?

[steve50]

(Sniffle) Gosh, don't they realize the Fastows are victims (sob)?

Can't ya just "feel the pain" these fine, upstanding pillars of the community are going thru. A nasty old trial will just make people worried about the economy and hurt the recovery. Let's start a petition drive for a pardon. Somebody has to raise their children to be honest, moral members of society. Where's the compassion

[SolutionsOnly]

The failure of the government to be serious about prosecuting Enron execs is another of my dissatisfactions with the Bush administration. It looks like they found their 'fall guys' in the Fastows. Everyone else gets to walk! I sometimes wonder if the Fastow is only being prosecuted for the sake of appearances. It sure seems that way.

[independentmind]

It looks like they found their 'fall guys' in the Fastows. Everyone else gets to walk! I sometimes wonder if the Fastow is only being prosecuted for the sake of appearances. It sure seems that way.

Fastow is as guilty as sin and deserves to be fully prosecuted. The problem is that the prosecutors need his help to go after Skilling and Lay.

[SolutionsOnly]

I know he's guilty. He's only one of many. While fastows assistance would be helpful, I cannot beleive it is absolutely eseential given the scope of he fraud.

I think it's shameful that the only person who really seems interested in justice regarding investment fraud is a Democrat - Eliot Spitzer, DA of New York. And that's hard to swallow, because a Democrat, I am not.

BTW, in the past week, MCI (Worldcom) is again being allowed government contacts. Wonderful.

[SolutionsOnly]

If the government went afer Enron with a only fraction of he zeal with which they are going after Martha Stewart, They'd have dozens of people in custody by now.

It's ridiculous!

[Lael]

So Lea struck out on the plea deal.........

Liz,

You seem to be pretty wired into this Enron thing...

Isn't there still civil litigation between Morgan Chase et al. and the Insurance Companies that "uttered" a Surety Bond in a series of fraudulent transactions on behalf of Enron???

This is looking to have some of the same Banking Players as Pamalot [sp?].

[steve50]

I think it's shameful that the only person who really seems interested in justice regarding investment fraud is a Democrat - Eliot Spitzer, DA of New York. And that's hard to swallow, because a Democrat, I am not.

I saw Spitzer give an interview a couple weeks ago where he claimed the fed gov was in the process of severely limiting the power of the states to prosecute. There was a small article going around about some changes passed to protect nationally chartered banks from all but federal prosecution a few days ago. This DOJ and SEC seem bought and paid for.

[Liz]

January 03, 2003

With a jury verdict looming, insurers and JP Morgan Chase agreed on 60 percent payout for Enron surety bonds. JP Morgan settled its dispute with a group of 11 insurance companies that had issued surety bonds for obligations guaranteeing finance deals the bank set up for Enron Corp. Under the agreement, JP Morgan Chase will receive about 60 percent of the principal amount of $965 million.

[Liz]

Fastow is widely known as the architect of the offhore entities--thousands of them--that hid Enron's debt (which contributed to its fall). Fastow, his wife, his brother and some other anointed pals were making big bucks off these deals.

Apparently the fed's plea bargain insisted that if the Fastows accepted the fed's plea deal but then lied about even a single dollar they stole, the deal would be off and the Fastows would face hard time.

One can imagine the deal fell through b/c the Fastows were reluctant to give out information about the money they (his brother, and God knows who else) had stashed offshore.

Looks like the fed deal fell apart b/c the greedy Fastow's are not willing to give up their stolen "retirement fund."

[OldPossum]

The problem is that it takes time to bring charges in such a complicated case. As it is turning out, a number of these Enron top dogs (and not so-top dogs) will be hauled off to jail this year. Now won't that be nice for the election? Assuming that the news media will report it.

[ladyjane]

Greedy - and arrogant - criminals.

[SolutionsOnly]

I'm going to believe it when I see it. As it stands right now, I believe that Skilling and Lay are going to walk. It makes my blood boil (and no, I didn't lose a cent on Enron, so there's no revenge factor here). It's the corruption in the system that riles me so.

[Jimmy Valentine]

That is a very cynical outlook!

Regretfully, you are perfectly correct.

If you are going to be a thief, be a very big one is the moral I guess.

regards,