Quote from maxpi:
Some radio commentators were upset yesterday. They felt cheated that Lay did not go to jail. Does anybody share that sentiment?
The shock jocks wanted to see him with his face in the toilet and somebody pulling off his pants to administer some "tough love"Like that happens in club Fed.
Regarding the idea that he should be punished for ripping off California; the state did not expand it's energy generating capability for decades, then it could not buy what it needed from the Pacific Northwest one summer due to hot weather. The Pacific Northwest hot spell was a statistical certainty, so California's public sector did nothing in the face of a certain crisis. Score one for the public sector. Ken Lay took full advantage of the situation, probably had seen it coming for years and was ready for them. Everybody takes advantage of the public sector, get used to it. The IRS spent 4 billion $ over a ten year period, [$10 B over 4 years, not sure] on a computer system that did not work. The public libraries were buying proprietary computer systems for big bucks when any website developer could have one up and running in a few days, check out the people at the California DMV squinting at their screens and trying to figure out how much you owe, you can get back in line and ask another clerk to check it for you and pay whichever one is in your favor. I made $100 in a half hour doing that.
And jeez, punish the employees for working for Enron?? And the lockdown was for a short time, what if it was the short time that the stock was falling fastest? Were executives ever locked down? I heard that they were selling early and often and during the lockdown.
Another apologist for rampant fraud.
