Posted on 03/15/2005 9:31:26 AM PST by Daus
I have seen no credible evidence that Ken Lay was in cahoots with the former CEO and CFO (don't recall names now) and their relatives and cronies. Ebbers, on the other hand, was the the clear ring leader of the WorldCom fraud.
Please give K.Lay his day in court, rather than judging him as guilty as Skillings and (names) without clear evidence.
the loss = a loss
MCI offered employees a discount on the stock price so even at the end, when we were investing, it was worth more right away.
ONE DOWN!!
"NEXT!!!!"
Aside from that, whether the loss is realized or paper the unfortunate individual's net worth declined by the same amount. The only place realization really matters is in computing taxes.
"I was trying to be a "buy and hold" investor and I blew it, big time."
I'm so sorry to hear that. :( The thing is, you don't realize, at the time, that it's the beginning of the end of the boom.
It's like my sister--in the boom period, she got some Sears shares at about $40/share from our grandfather and bought lots of Lucent stock at $60 a share....
I'm not following the stock market anymore but last I checked, Lucent is below $10 a share and Sears is around the same.
Well, you're still young, that's the one good thing. :)
I'm sure that Kenny boy can't be happy with the news that the "Don't blame me, I was just the Chairman" defense didn't work.
In about 80 years.
You will have time to recover from this error, as I did after my similar errors during my 20's.
Yup...the law firms have already planned where the bucks for *their* retirement plans, via the litigation, will be forthcoming....
Ken Lay was telling all the Enron employees to buy more shares up to a month before it collapsed. In the meantime he was selling huge blocks of shares. He's guilty as hell. How can you defend that slime?
He only won by 130,000 votes in Ohio, if one goes by the electoral college, against a terrible opponent. It must be that "no veto" thing.
Needless to say, after almost 4 years, I amassed a nice chunk of 401K and stock options, only to see it vaporize at the hands Ebbers and his fellow executives.
I say good riddance!!!
Didn't Terry McAwful have his fingers in the World Com pie as well?
I never saw a more miserable looking man than the one I just saw on Fox News. If I was him I'd take some of the money i probably got stashed somewhere and bribe somebody to get me out of the country fast. Maybe go hang out with some of those Chinese bankers in hiding.
Wasn't that Global Crossing?
They cooked up some deal in India. At the end India walked away and refused to close the deal. This cost Enron many many many millions of dollars.
Slick tried to get India back to the deal, but they snookered Enron and Slick Willie, who were trying to snooker them.
Those trips to India because Chelsea liked chicken tandoori were tied into slick trying to work out a deal for Lay.
The bottom fell out of the economy when the tech bubble broke. When CA insititued price caps on what you could sell energy for.....but no caps on what you paid for that energy.
Gray Davis and his idiot cronies all belong in jail.
That's a short quick reminder of the genesis of Enron's troubles.
Instead of taking that huge loss, they did all in their power to hide it, cheat the investors, the employees, etc.
The economy was tanking and there was no way they coul dig their way out.
Oh the talking heads.......LOLOLOLOL
Don't forget about appeals that could drag on for years. Meanwhile Ebbers is living the life of a billionaire.
He lived like a king for many years and now in his final years he will live in a high security nursing home at our expense.
If someone is thinking that this will be a deterrent to white collar crime, you should think again.
At least in this case we found out where "the buck stops!"
Ah yes... And the media's mission is accomplished too! (to comfort the afflicted while afflicting the comfortable)
Everybody loves it when the "high & mighty" shoot craps!!! (and they meet the same folks comin down they stepped on goin up)
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