Convicted!

[Bubba]

HOUSTON - Former Enron Corp. chiefs Kenneth Lay and Jeffrey Skilling were convicted Thursday of conspiracy to commit securities and wire fraud in a case born from one of the biggest business scandals in U.S. history.

The verdict put the blame for the demise of what was once the nation’s seventh-largest company squarely on its top two executives. It came in the sixth day of deliberations following a trial that lasted nearly four months.

Lay was also convicted of bank fraud and making false statements to banks in a separate trial related to his personal banking.....

Whole story is here...

http://www.msnbc.msn.com/id/12968481/

[wordsmythe]

Now let's hope they do the right thing and send them to PMITA Prision.

[TexKan]

I think this sends a message that citizens expect businesses to "play by the rules" Too bad congress can't be hauled in too.

[Tee]

...and he posted the 5 million dollar bond with the 15 million that he made on just ONE of the insider trading deals. They need to rape him of all the money he made, while the 5600 employees lost their retirement accounts and millions of investors/shareholders lost their nest eggs.

It's a shame they have not frozen ALL of his assets and accounts here and overseas.

Lets hope the judge sentences him to some real time and fines, not some cush white collar resort for a year or so.

As far as I am concerned, they should take EVERYTHING and then lock him up for 20 years at least.

[Highwayman]

I’m hearing the minimum time can be about 20 years. Out of a possible 170 years it’s likely to be more than 20.

The outrageous thing is that they are out on bail. These guys have access to fortunes larger than many small countries, private jets and there are still countries out there that will not extradite. The question I’m asking is are they going to show up for sentencing?

[K C Muffin]

Good question, Hiway......and I agree wholeheartedly with Tee. Except then the sweet little wife will all of a sudden "own" everything so that it can't be taken to distribute to those who lost their pensions. I hope they put a monitor on him while he's out on parole to guarantee he'll show for his sentence. I think a little ankle bracelet adorned with a small diamond could be arranged and would fit nicely with his wardrobe. It would be worth the money to post guards at his door to make sure he doesn't flee.

[Highwayman]

I’ve been thinking that instead of putting these guys up at our expense just take everything they own except a few minor possessions and three months rent in a small apartment. Let them start over like a lot of the folks that got burned had to do.

[lurker]

I wish those turds would have to support those they diminished... just ain't gunna happen in this society.

The closest they'd ever come to "even" would be a manual carwash staffed by corporate thieves.... free (of course) to all. No tipping allowed.

[K C Muffin]

Ooooh - I like both those ideas.

[TexKan]

At first I thought Lay wouldn't be able to stand up to the psyche truama of prison and therefore would waste himself before sentencing. After seeing him on a pre recorded interview and learning his connection with the church - I'm not sure he will do that - Instead I think he's already got his Bible thumpin - "this is a test of the Lord" attutude goin. I think he'll make it to prison and come out smellin like a rose. He said several times he had invested monies in some "future endeavors" that won't come to fruition for some years. That means he'll be just as well off after prison - maybe better cause while he's sittin - the money he stole is still workin for him and his family. Sumthin just ain't right with all that. Course I don't think the family should suffer cause he was greedy. In his mind - he IS innocent. Thousands of folks just "misunderstand" what happened. He still "grieves everyday" for all those folks.................. uhhhh yeah...... OK..