One more on lay and enron too

Who really believes that ken lay knew nothing about enrons two decades of corruption. Is there anyone who saw the enron documentary (thank you mark cuban!) Who believes lay is innocent? No way!

That movie documents a culture of deception and greed first going back to the 80’s. Every time lay was presented with clear evidence that subordinates were breaking rules and laws he chose to tap them on the hand and hand out promotions and bonuses.

I remember the movie showing how his trading unit was taking enormous unauthorized positions and running afoul of laws, lay lef the guys in place because he couldn’t lose their profits.

Or how skilling’s most ‘brilliant’ career building move was to start to book profits for the expected future value of deals just signed. I believe they did this with their blockbuster video delivery idea. They would literally come up with an idea, sign a partnership and then book a paper profit.

I hope and pray that the prosecutors are presenting this basic evidence.

I’d like to see what percent of enrons earnings in yrs lay was in charge resulted from these fraudulent markup deals.

What’s pathetic is that lay isn’t stepping forward as the ‘captain of his ship’ to take responsibility for all the actions of his subordinates. Who gives a shit that he comes from humble beginnings? Hopefully not the judge.

Lay symbolizes all that is wrong and corrupt in our country and a lot of it comes from texas. He made a career out of buying presidents and how easy when they live so close.
Sent wirelessly via BlackBerry from T-Mobile.

4 thoughts on “One more on lay and enron too

  1. and the worst part is how it people like you & me. i lost 2500. and never even got a thank you

  2. Mark,
    It’s heartening to see you take on the issue of corporate corruption – as someone who has taken companies public, you have cred with other CEOs that most of the rest of us will never have. People genereally respond more to the respect (or contempt) of their peers than just about anything else…
    Thanks,
    Jeff

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