Enron's Lay to be indicted?

CNN ./ Money ^ | July 5, 2004: 1:47 PM EDT | CNN/Money)

[Joe Hadenuf]

yep, this was no "accounting error", it was a thoroughly planned and executed effort to build a pyramid-type scheme to bilk investors by fraudulently reporting "profits and assets" and hiding debts and liabilities in thousands of offshore "companies"

You bet....

[snopercod]

I personally like the new SEC requirement for CEO's & CFO's to sign and personnally attest to the accuracy of certain documents filed with the SEC. I view that as a step in the right direction.

I agree. Well stated.

I got burned pretty badly with Tyco. I had a stop limit order in place at 51 on the day TYC gapped down from 55 to 45. It blew right by the limit and the order went unfilled. Like a fool, I rode it all the way to the bottom and sold out recently at 20.

Normally, I refuse to participate in shareholder lawsuits because they enrich only the parasite lawyers. But I'll join in one against Tyco if there ever is one.

They were booking the full value of long term maintenance contracts in the year they were signed. That's why they were "making" so much money.