Live coverage here in Houston. There's a lot of legal jargon getting thrown around, but it boils down like this-Lay and Skilling found guilty are nearly all counts as far as I can tell. One legal analyst summed it up as "as bad as bad news can get for the defendants."
It's unknow if the two will be immediately taken into custody, but right now they could be looking at about 30 years apiece and fines numbering in the millions.
Thoughts?
Politics forum.
Edit: But ignore me and keep going... really I could care less about these guys. Good they got busted but I think media overblew it. Hurt the working men and women of Enron.
They try to make you think Oil extraction and transport is EZ just some suits sitting around rich smoking Cigars and .. no..
99.% of oil workers blue collar... it's hard dangerous work.. that we can't seem to bring ourself to thank the workers we just want to cry for more.
Last edited by Vashner; 05-25-2006 at 11:36 AM.
Politics???
Those guys are CROOKS!
I agree that the media has blown this thing up huge. It's been like the OJ trial here. The tough part is that sending these guys up the river (even to a federal "pound me in the ass" prison) isn't going to get anyone's life savings or jobs back. It won't do jack for any of the people that were really hurt by this mess, but the general public will get its pound of flesh and go back to feeling good about our legal system.
The news coverage I'm watching here is a far cry from objective. The legal analysts are some old, southern guys who I think would like to see them hanging from the closest tree. At the very least they seem awfully glad about the verdict.
Would you recommend letting them go free?
No biggie that's just where the older Enron threads are.
no. If it were up to me I'd let a panel of people who lost their shirts on the Enron deal pick out the biggest, craziest, ass-rapingest convicts as those guys cell mates. They deserve what they're getting, no doubt. I just feel that justice can't be fully served with just jail time and fines because of the amount of people that were damaged by their actions.
Those bas s!!
on the verdicts. I too don't really care about these two men. It is the employees who lost their retirement savings that I care about.
Amen !
Amen again
wtf did these guyz come up with the money to pay for their attorneys??
They still have plenty of money unfortunately. There are certain assets that the courts can't go after.
What will forever amuse me is that the building I work in on the University of Houston campus is just completing a multi-year, multi-million-dollar upgrade which gave my college twice the space and created more space/technology/etc for the rest of the building. It was a huge fundraising effort that began at the turn of the century. Prominently displayed downstairs in the lobby is a giant plaque listing the top donors for the project, and right in the middle are the biggest donors at over $5 million - Ken and Linda Lay.
I can't tell you how relieved our deans were when the stipend closed out on the college's Ken and Linda Lay Family Scholarship.
For as 'philanthropic' as they were - it's not enough to account for the thousands of people harmed by what they did. People who lost stock, lost their funding, lost their lives. People around here still get jaw clinching angry when it comes up. Just awful what they did to people - and to the economy as well.
I will never forget seeing Linda Lay on television literally crying about how they had to sell a few of their several properties in Aspen and boo ing hoo blah blah blah.
I lost any and all sympathy for them right then.
Who told the workers to put all their money into the stocks?
Wasn't that an option?
Guilty as though.
From what I've read it was NOT an option, plus the ee's were given bogus numbers to encourage them to do so. But I could be wrong.
If it wasn't an option, then the guys are plain evil.From what I've read it was NOT an option, plus the ee's were given bogus numbers to encourage them to do so
If they had an option, and CHOSE to invest that way.
Then IMO its their fault.
yeah, because of course they knew their bosses were crooked.
The best skill you could ever acquire would be that of researching what actually happend before you open your damn mouth sometimes.
No ! WTF Tpark?
I guess I'll have to give my buddies a pardon.
It is absolutely not the fault of the investors if the company is putting out bogus numbers. Of course all investments carry risks, but audited financial statements (required of publically traded companies) and SEC do ents should be a pretty good indicator of stability and the condition of the company, but AA (their auditors) were paid millions and millions of dollars. It's amazing how much money can make someone turn the other cheek, huh?
There's a movie out about the whole thing...I forgot the name...but it's absolutely mind-numbing the lengths those people went through and the scams they were running. That was the biggest cluster- of all time. And as an accountant, all of these new laws because of that situation has made my job a lot more difficult.
Once again Manny before attacking me personally like you like to do, but your always "kidding" funny.
I said, if they were given the option of investing in stocks, or investing how they wish.
then, no matter bogus numbers or not, the people had an option and chose it that way, no one put a gun to their head.
Guess thats too much common sense.
I wasn't kidding about anything, and I said that you would do best to learn about something before you open your mouth. And yet it is STILL obvious you know little to nothing about the situation and you continue to run your mouth.
Here's the deal, Eric. If you run your mouth on something you refuse to educate yourself on, you deserve all the criticism you get.
HAHA, JUST KIDDING, HEHE.
Don't act like I somehow hide what I have to say behind the veil of a joke. Thats one of the bigger piece of bull to come out of your mouth yet, and thats saying something.
It just blows my mind that you're even saying that. Look, I'm making another post after reading your idiocy again because thats how floored I am.
It was not the fault of anyone other than the ers that are going to rot in jail. I'd love for you to sit in the face of a 50 year old woman who lost everything in her 401k that it was her fault. I'd ing LOOOOOOOOOOOOOOOOVE to see you lecture her on common sense.
Presenting fraudulent information to persuade people to invest their money is a felony offense. That's not only common sense, but the law. What do you think the purpose of the SEC is? There are extremely strict laws that are supposed to protect people from this exact thing. If everyone had your "tough " kind of at ude, they'd take all of their money and hide it under their mattresses. Then the United States' economy would be literally destroyed.
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