Enron’s Lay, Skilling are guilty
And that’s not just my opinion. From Fox News:
Former Enron Corp. executives Kenneth Lay and Jeffrey Skilling were convicted of conspiracy and fraud on Thursday as one of the largest business scandals in U.S. history came full circle.
The jury came to the decision during their sixth day of deliberations, following the nearly four-month trial. As the convictions were announced Lay’s wife, Linda, was seen crying while Lay and Skilling were said to look shaken and dazed.
The verdict places the blame for the demise of the energy giant and Wall Street darling on the shoulders of the two former CEOs, both of whom took the stand in their own defense and sought to convince the jury that they had no knowledge of any illicit actions at the firm.
There’s a lot of people out there whose lives were basically ruined over this whole mess and this won’t make a damn bit of difference to their situation. But it’s justice and it’ll be a reminder to the next batch of execs who think all’s fair as long as they get to keep their mansions and golden parachutes.
Comments
Pingback from HoodaThunk? » Blog Archive » Lay dies of heart attack
Time July 5, 2006 at 14:56
[...] A heart attack? Yeaaahhhhhh…. Right. Funny how that happened right after he was convicted of massive fraud and was due to be sentenced for his crimes. Wonder what his life insurance payout will be? [...]
Pingback from Enron’s Skilling to go directly to jail, do not pass go « HoodaThunk?
Time December 13, 2006 at 07:40
[...] Jeffrey Skilling was convicted back in May of the various fraud charges against him. A couple of days ago he had the chutzpah to suggest that he be allowed to stay out of jail while he pursued his appeal. The judge has declined the offer. It was a brief respite for Jeffrey Skilling. One day after a federal appellate court ruled that the former Enron chief executive could remain free until it decided on his request for bail pending appeal of his sentence for conspiracy, fraud and insider trading, the judge in the case rejected the request. [...]
Pingback from vague notions about everything! » Lay, Skilling guilty! Gee! Go figure!
Time May 26, 2006 at 09:40
[...] Hood Thunk sent me to the Fox News report about Lay and Skilling. These disgusting, greedy, excuses, for humans should be sentenced to spend 1 month per year, for life, with the Enron-families they ruined. This should be on a rotating basis until all families have had their chance to show these creeps what real-life is all about. If they should by chance survive a full round of all families, then the stock-holders should become their hosts. [...]