Skilling and Lay Go Down
May 25th, 2006
In a somewhat surprising turn of events, a Houston jury today convicted Enron pirateers, Jeff Skilling and Ken Lay. It would appear that the jury didn’t buy into the stories of the “smartest guys in the room”. With the thousands of lives ruined, and the billions of dollars lost, the jury didn’t seem to care about the boom days and the excitement that the 90’s brought to Enron investors and employees.
Lay now faces up to 165 years in jail, and Skilling’s 18 19 convictions should pile some time on as well (175 years). That should give them many nights thinking about their errors. “Ethically challenged employees”. Ha.
May 25th, 2006 at 12:29 pm
As stories go, this one was good. It makes me wonder what else is going on right underneath our eyes. Say the housing market?
May 25th, 2006 at 2:14 pm
It made for a pretty good story - unfortunate that the Bush connection wasn’t probed more.
May 26th, 2006 at 7:56 am
Was there sentences too strict for the crime?
May 26th, 2006 at 3:03 pm
These guys perpetrated the worst corporate scam in history. Millions of senior citizens lost their retirement funds because they manipulated the market place. Tens of Millions of Californians paid super high energy prices because they shut down their own plants in order to manipulate supply and demand.
They managed to manipulate the world with a strategy called Mark to Market. They told the world they were going to make billions upon billions in the future so the current stock price reflected that. Everyone bought their stock as is was on the rise.
It was a scam; their futures were amounting to nothing. Many people lost their life savings and contributed to the declining economy in the early part of this decade.
I’d say, they got what they deserve.
May 26th, 2006 at 3:03 pm
for all the damage done, i think they deserve every minute. thousands of people lost their savings - many lost everything they had. just so these guys could get rich beyond their wildest dreams.