Tuesday, April 25

Rich Guy On the Stand 

The Post tells us of Ken Lay, a sorry little fellow with way too much money who ran Enron into the ground for so many employees and investors, and how he did no wrong:
"Earlier today, Lay said he never told Skilling about an employee's memo that warned that the company 'could implode in a wave of accounting scandals.'

The memo, by Enron insider Sherron Watkins and delivered to Lay in August 2001, just after Skilling left the company, has proven to be a linchpin of the government's case against Lay and Skilling. Lay faces six counts of fraud and Skilling faces 28 counts.

Watkins detailed what she saw as accounting problems at the LJM partnerships.In his testimony last week, Skilling said Lay had never mentioned the Watkins memo to him, even though Skilling was prominently mentioned in it. Lay's testimony today corroborates Skilling's.

During Skilling's testimony, government prosecutors seemed incredulous that Lay never mentioned the memo to Skilling, especially in that Lay and Skilling met hours before Lay met with Watkins to discuss the memo."

I never mentioned the elephant in the room to the elephant trainer. It wasn't important.

It is obvious that stories have been concocted to cover up for these guys crimes. The sad thing is they seem to believe that everyone was out to get them, and if only the pesky reporters had written about the good news (hear that before?) this wouldn't be a problem.

Go to jail, Lay. Go directly to jail. Do not pass go. Do not pick up more money.

Speaking of which, all these rich criminals have homes in Florida so that they cannot be taken from them after they commit their crimes and are found guilty. Come on Florida, change that law!

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