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Jeff Skilling Sentenced to 24 Years (Enron CEO)
WCHS Portland ^ | October 23, 2006

Posted on 10/23/2006 1:11:20 PM PDT by Lunatic Fringe

Breaking


TOPICS: Breaking News
KEYWORDS: corporatescandals; dupedinvestors; enron; kenlay; skilling
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To: wideawake

I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire. Thsi sentence is way to short.


21 posted on 10/23/2006 1:27:43 PM PDT by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: Lunatic Fringe

He could always get the sentance vacated by appealing and then dropping dead.


22 posted on 10/23/2006 1:29:18 PM PDT by No Truce With Kings (The opinions expressed are mine! Mine! MINE! All Mine!)
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To: wideawake

Yes, but Fastow sang.


23 posted on 10/23/2006 1:30:48 PM PDT by 38special (I mean come'on.)
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To: Lunatic Fringe

I heard he was thinking of offing himself. He might've been better off, since he'll die in prison now.


24 posted on 10/23/2006 1:31:03 PM PDT by Tolsti
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To: taxcontrol

A friend of mine who was very astute about these things once pointed out that the Federal government will pursue perpetrators of financial crimes with an intensity that they don't have when it comes to any other crimes -- even murder.


25 posted on 10/23/2006 1:32:02 PM PDT by Alberta's Child (Can money pay for all the days I lived awake but half asleep?)
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To: Lunatic Fringe
Image Hosted by ImageShack.us Unless he tries the Ken Lay way to avoid jail time...
26 posted on 10/23/2006 1:32:38 PM PDT by pillut48 (CJ in TX (Bible Thumper and Proud!))
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To: Hydroshock
I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire.

If they hadn't made the most unintelligent retirement decision than anyone can make, Jeff Skilling couldn't have hurt them.

They decided to make themselves vulnerable by putting all their retirement eggs in one basket.

Their retirement situation is almost entirely their own fault.

My employer's stock constitutes less than 8% of my investments - if my employer turned out to be run by even worse crooks than Skilling, Lay and Fastow I would still be just fine.

If you don't diversify, you are begging for financial trouble.

27 posted on 10/23/2006 1:32:43 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: K-oneTexas

The whole 1/3 of the sentence thing is long gone, I think today under Federal guidelines the minimum is 80% and I believe anything over twenty years means low security rather than a minimum security "camp."


28 posted on 10/23/2006 1:32:53 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: taxcontrol
20 years on average for a murder 24 years for financial fraud ... sounds to me like there was more than just a little bit of emotion in the sentencing.

Or a sentence reflecting a logical accounting of the (literally) thousands of persons who lost most of their savings as a result of Enron's illegalities.

Perhaps murderers should spend more time in jail, instead of watering down the penalty for committing a host of illegalities and frauds.

29 posted on 10/23/2006 1:32:56 PM PDT by Diddle E. Squat
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To: Brilliant
Most murderers get off in less

I agree. There's something wrong with a system in which a murderer gets less of a sentence than a white collar criminal.
30 posted on 10/23/2006 1:33:19 PM PDT by reagan_fanatic (The fool hath said in his heart, there is no God." (Psalm 53:1))
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To: wideawake
It is amazing that the Feds were not really able to prove their case without Fastow. He created all the corporations and no one from what I read could decipher his doings. Except him, very convoluted. And he gets the "tap on the wrist" for a sentence.
31 posted on 10/23/2006 1:33:25 PM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: Hydroshock
Anyone who has 75% of their retirement assets invested in shares of a single company is asking for trouble and deserves no sympathy.

Most people who got screwed in the Enron fraud were stupid, greedy, or both.

32 posted on 10/23/2006 1:34:57 PM PDT by Alberta's Child (Can money pay for all the days I lived awake but half asleep?)
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To: Diddle E. Squat

I agree, the problem is that murderers are even released at all, not that people who defraud thousands of their life savings are given 24 years.


33 posted on 10/23/2006 1:35:00 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: Tolsti
He's a healthy, trim 52.

He will not be put in stir among violent criminals but will be among his own kind - tax-cheats, fraudsters, etc.

He could easily make it to age 76 as long as he has support from his family and occupies his time in some worthwhile capacity.

34 posted on 10/23/2006 1:35:17 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Lunatic Fringe

I didn't see any monetary fine for his role in this sham. Was that released previously?


35 posted on 10/23/2006 1:36:32 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
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To: taxcontrol

Murders should get death.

And people who destroy the life savings of millions of hard working people deserve death as well.

I would shoot the B**t$$d!

And the Dot.com culprits as well.


36 posted on 10/23/2006 1:36:50 PM PDT by Prost1 (Fair and Unbiased as always!)
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To: wagglebee

The only people who were defrauded of their life's savings were people who wanted to be defrauded of their life's savings - people who were utterly negligent of their retirements.


37 posted on 10/23/2006 1:36:58 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: wideawake

IIRC, Most of the Enron employees didn't have any say in where their money was invested, and when the company was collapsing they were prohibited from pulling their money out.


38 posted on 10/23/2006 1:37:21 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: taxcontrol
Skilling was convicted of one count of conspiracy, 12 counts of securities fraud, five counts of making false statements and one count of insider trading. Commit that many separate murders and I bet you get over 24 years...
39 posted on 10/23/2006 1:37:23 PM PDT by shuckmaster (An oak tree is an acorns way of making more acorns)
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To: Diddle E. Squat
Skilling's indictment was for:

10 counts of insider trading;
15 counts of securities fraud;
4 counts of wire fraud;
6 counts of making false statements to auditors,
and one count of conspiracy to commit wire and securities fraud.
40 posted on 10/23/2006 1:38:14 PM PDT by taxcontrol
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