Enron

[Baptist in Richmond]

Originally posted by Bro. James Reed:
Lay is being made the patsy.

Perhaps you have forgotten the fact that Lay was at the helm.

I don't believe he had anything to do with the Enron "stuff", other than being oblivious to its goings on.

Do you really believe that Lay ascended to the top position at Enron despite being "oblivious to its goings on?"

As CEO in the latter part of the company's days, he should have seen what was happening and had happened, but I don't believe he did.

The latter part?

If anything, he is guilty of mismanagement, insider trading, and maybe even trying to help cover it up, but I don't think he was involved in the "faked earnings" part of the scandal.

Then he should be sent away for a VERY LONG TIME. Do you realize that insider trading is a violation of the Securities Act of 1933?

So, Ken Lay, despite having the company implode under him, had nothing to do with its demise?

Now, as for Jeff Skilling, that is another story. He's as guilty as sin.

That level of criminal activity cannot be perpetrated by just one man.

BTW, if Lay is convicted, then yes, I believe that GW will do as Clinton did for his buddies and pardon him on his last day of office.

You mention Clinton as if this somehow validates the potential pardon for Lay.
To quote Bruce Springsteen (again):
"God have mercy on the man who doubts what he's sure of."

Regards,
BiR

 

[KenH]

Originally posted by TexasSky:
I've been out of accounting for several years now. What is "Sarbanes-Oxley "?

http://en.wikipedia.org/wiki/Sarbanes-Oxley