Enron founder Kenneth Lay, with his wife Linda, makes a statement as he leaves the courthouse after being found guilty of all counts in his fraud and conspiracy and bank fraud trials Thursday, May 25, 2006 in Houston. (AP Photo/Pat Sullivan)
Posted on 05/26/2006 10:34:35 AM PDT by NormsRevenge
Enron founder Kenneth Lay, with his wife Linda, makes a statement as he leaves the courthouse after being found guilty of all counts in his fraud and conspiracy and bank fraud trials Thursday, May 25, 2006 in Houston. (AP Photo/Pat Sullivan)
Enabled by Clinton.
Jailed by Bush.
Enabled by Clinton.
Jailed by Bush.
That needs to be repeated over and over again!!
That'll fit on a bumper sticker. ;-)
IIRC, much of the defense costs were paid for by directors E&O policies and other liability coverage..no longer the case after the conviction..so they'll have to decide if they each want to throw away several million on an appeal....to merely buy some more time...Since the appeals will most likely lose, at some point Skilling and Lay will havbe to decide if they want to leave something for their families..
These guys were acting like they were the government or something...
I rather imagine that they do, especially old-man Lay for whom time is now his most precious asset. Surely these creeps have millions in cash tucked away for a rainy day.
During this trial all Lay did was play the blame game...and blamed everyone else. Playing the victim is so typical of what a true blue demwit does.
Lay is shocked but not stuned, apparently.
I always thought the "there was no fraud" defense was a pretty dumb idea. Plus the reports indicate Kenny-boy did not do well on the stand. Instead of the old affable Ken, he was prickly and defensive.
My guess is Kenny is not really the nice guy he pretended to be. He might have talked himself into believing he really didn't do anything wrong - "master of the universe" types can have a very skewed view of the world.
If there was a chance for a plea bargain he should have taken it. He chose poorly.
Oh man, do you know what happens to pretty boys like Lay in jail?
"The collapse wiped out more than $60 billion in market value, almost $2.1 billion in pension plans and 5,600 jobs."
Where did it all go?
I don't know which was the best of his blames ... the day traders who dissed the company, with whom he was livid, until it was pointed out that's what his son does for a living ... or the automatic signature machine--that is, his secretary or the "SODDI" - some other dude did it - who sneaked into his office and signed checks with it.
The fact is Enron was cooking the books and Lay never knew anything whatsoever about it. **shaking my head**
Enabled by Clinton.
Jailed by Bush.
Trying to score political points on this case is a loser. If we try, we'll get hit with "Kenny Boy."
Lay was an equal-opportunity scumbag. He spread money around to any politician he thought would help him.
Better just to celebrate this as a victory for shareholders over the crooks who would lie to them.
Strictly speaking, it didn't "go" anywhere. It never existed in the first place, other than in the minds of the investors that pumped up the price of Enron stock. And, because they were given information that was untrue by the Enron, the top executives of that company are now facing prison.
Exactly...
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