Breaking news: Ken Lay GUILTY ON ALL CHARGES
:bravo:
[quote]Skilling was found guilty on 19 counts of conspiracy, fraud, false statements and insider trading. [/quote] CNN
[quote=“Dragonbones”]Breaking news: Ken Lay GUILTY ON ALL CHARGES[/quote]Color me shocked.
Anybody that lost money on this fraud is having a drink as we speak. CHEERS!!!
poor old Kenny-Boy. :raspberry: What will he do for the next 25 years? 
poor old Kenny-Boy. :raspberry: What will he do for the next 25 years?
[/quote]
Awesome. Your my HERO. If I hadn’t lost money, Ken would be my hero. But, hell . … . I’m fickle.
I cant helpt but wonder, If everyone MADE money with this sham, would there be an issue?
This is hilarious, People were willingly suckered on this one. I mean know one knew, outside a small inner company clique, how this company made money and when stock analysts asked they were given the cold shoulder and some mention about “block box” methods.
Also the california Energy crisis was caused more to california state legislator idiocy than to anything federal. Dumb f-ers took out the idea for long term contracts and made it a spot market.
XXOO,
Okami
Happy that he’s guilty, but him going to jail is again IMO a waste of my taxes. So he gets to sit in a 9x13 cell pondering angrly how his fellow co workers stiffed him and placing the blame on everyone but himself.
Here’s what I would love to tell the judge when sentencing comes- Hey your honor. Make him work at McDonalds for the rest of his life so he can reflect on his humble beginnnings and the ones he created for his ‘employees’. And all of his paychecks go to a “Got screwed by greedy CEOs” Enron trust fund. I know that $6.50 an hour will never make up for the thousands of dollars people gave their lives to save up for but he will be better off in the community working and cleaning up the mess he made than sitting around watching tv in his cell.
rant over
Bullshit. It’s not hilarious at all and plenty of good, honest people were suckered and suffered financial disaster when their retirement savings evaporated overnight. Did you know Enron was at one time the 6th largest company in the US???!!! 
At least on paper. In addition to plenty of individual investors and employees, lots of reputable institutional investors got screwed.
[quote]Many pension funds lost money from investing in Enron stock.
Florida state board of administration
University of California regents
Georgia state pension fund
Ohio state pension fund
New York City pension fund
Washington state employees
Oregon state pension fund
New Jersey state pension fund
New York state pension fund
California teachers
Alabama retirement system
California public employees
Texas teachers retirement system
Alaska state pension fund
Titan Trading Co, employees(Gabe Zawacki) retirement system
Missouri public schools retirement system
Nevada state pension fund
Minnesota state pension fund
Connecticut state pension fund
Massachusetts state pension fund
North Carolina pension fund for state and local employees
Illinois teachers retirement fund
Illinois state employees retirement system
Los Angeles pension fund
Missouri state pension fund
Illinois universities retirement fund
Rhode Island state pension fund
South Carolina state pension fund
Idaho state endowment fund
Idaho state employees retirement fund
San Francisco pension fund [/quote]
en.wikipedia.org/wiki/Pension_fu … with_Enron
Did the members of all those pension plans deserve to be screwed as they were? I don’t think so.
Moreover, look at what Lay and Skilling were found guilty of: lying to the public about the company’s net worth and earnings, stating that the future looked great, that they personally were buying lots of shares and they recommended that others do the same, when it was all false. People lost everything because all of the top executives of the company, and it’s purportedly reputable accounting firm, were all liars and crooks.
People rely all the time when making investment decisions on public reports and statements, especially from the largest public companies in the world. The ability to rely on such statements and reports and make decisions based on them is at the core of our capitalist system. It is absolutely essential and fundamental to the global economy. That is why the crimes committed are so egregious and they will be punished severely-- because people were not only justified in relying, but our whole economic system depends on such reliance.
Glad to see justice served. I loved wathcing skilling swerve between his ego and admiting incompetence. Interesting. I had classmates that did summer interships at Enron. They were told not to ask too many questions about the finances until they joined the company 
I hear he gets a “life” sentence. I’m not sure about the American system. Does that mean he gets 25 years before possible parole?
I don’t believe anyone is qualified to say that. They haven’t been sentenced yet, have they? In that case it’s only speculation now.
As for your question, contrary to popular belief, it’s my understanding that the US system has been reformed so that it is now possible in the US to receive a “life” sentence that really is a life sentence and may not be reduced under any circumstances to allow for early release, though briankennedy, if he’s around, would be better qualified to comment on that.
I don’t believe anyone is qualified to say that. They haven’t been sentenced yet, have they? In that case it’s only speculation now.
As for your question, contrary to popular belief, it’s my understanding that the US system has been reformed so that it is now possible in the US to receive a “life” sentence that really is a life sentence and may not be reduced under any circumstances to allow for early release, though briankennedy, if he’s around, would be better qualified to comment on that.[/quote]
It depends on how the judge rules. You can get life with possiblity of parole.
I like the McDonalds sentence.
Well, I think that might be too easy now. How about he be assigned to a garbage route of all his former employees. :fume:
[quote]
Well, I think that might be too easy now. How about he be assigned to a garbage route of all his former employees. :fume:[/quote][/quote][/quote]
Because they’re homeless.
Fastow got a 10 year sentence for his flipping on Lay and Skilling. He’ll probably do 7. Just a guess
I expect Lay will get 20 yrs or so. Maybe do 12 - 15.
His ‘religious’ comments upon his guilty verdict I found personally disgusting.
I think his “Come to Jesus” moment will happen when he hears the jail door slam shut.
Reminds me of that Baker preacher, Tammy Fayes ex-, from a few years back. Another creep who did his token time and is out living on a farm now.
Added:
Lay convicted on all 6 counts.
Skilling convicted on 19 of 20 counts (I think that the #)
Sentencing scheduled for Sept 11.
[quote]
Well, I think that might be too easy now. How about he be assigned to a garbage route of all his former employees. :fume:[/quote]
Because they’re homeless.[/quote][/quote][/quote]
Good, then the local churches always need volunteers for the soup lines.
[quote=“TainanCowboy”]
I think his “Come to Jesus” moment will happen when he hears the jail door slam shut.
.[/quote]
Nope, that will happen when his cellmate slaps him on the ass to size him up 
:bravo: