Enron Chiefs Guilty of Fraud and Conspiracy

Discussion in 'Politics, Religion, Social Issues' started by zimv20, May 25, 2006.

  1. zimv20 macrumors 601

    zimv20

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    #1
    nyt

    hurray on the verdict, boo on the sentence. i guess ruining the retirement plans of thousands and possessing a sackful of drugs are equally as bad.

    edit: i should reserve my sentencing comments until there's an actual sentencing. i just noticed that it's 5-10 years per count. now, what's the line on bush issuing pardons to these clowns?
     
  2. FFTT macrumors 68030

    FFTT

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    #2
    If you were in their shoes looking at 5-10 years in prison,
    would you try to cut a deal on your sentence by turning states evidence
    against Bush and Cheney?

    This could be very interesting.
     
  3. tristan macrumors 6502a

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    #3
    States evidence against Bush & Cheney? What in Sam Hill are you talking about?

    The government needs to send the right message here - that it is okay to build a company and take risks in the marketplace that could leave you bankrupt. You can't build or grow a company without taking risks.

    However, the officers of a company are required to accurately state the financial position of the company as required (basically every quarter) and identify those risks, and if they do not, they will go to jail for a significant period of time and lose all of their assets.

    That's every company, public and private. Private companies don't have to disclose financials to everyone in the world, but they do have to disclose to investors and lenders.

    Anyway, I hope Lay serves about 7 years and loses all his assets. Skilling should get 3 or 4. And Fastow, about 20, the guys an embezzler straight up.
     
  4. mactastic macrumors 68040

    mactastic

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    #4
    What could they possibly say about Bush and Cheney? That they attended their energy policy meetings?

    Anyway, this verdict was a small victory for the thousands of people who lost their pensions and/or savings when Enron took a crap.
     
  5. FFTT macrumors 68030

    FFTT

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    #5
    Well yes actually when you have closed door energy task force meetings
    between this administration and Enron, I can't help but wonder who knew what.

    I would also like to know about any contributions and kick backs that may have played a part in the elections.

    http://archives.cnn.com/2002/US/01/27/enron/

    Congress' investigative arm, the General Accounting Office, wants information about last year's closed-door meetings -- including the names of energy executives who attended, when and where the meetings were held and how much the sessions cost taxpayers.

    The issue is not new, Cheney said. In August, the GAO backed off its request after the Bush administration announced it was prepared to go to court. But the issue has gathered new steam following the controversy surrounding the fall of Enron.
     
  6. zimv20 thread starter macrumors 601

    zimv20

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    #6
    well, there is still that issue of how much the administration interfered in the dabhol deal.
     
  7. Ugg macrumors 68000

    Ugg

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    #7
    The press is saying they might get life. How do you figure such a short sentence?
     
  8. FFTT macrumors 68030

    FFTT

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    #8
    5-10 years per count.

    Lay was found guilty on 6 counts.
     
  9. zimv20 thread starter macrumors 601

    zimv20

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    #9
    the local abc 10 o'clock news i watched tonight mentioned sentences in the 150 year range. pending appeals, of course.
     
  10. FFTT macrumors 68030

    FFTT

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    #10
    Sentencing is scheduled for 9/11/06 (how interesting)

    The BIG question is whether they will remain free on bond after sentencing,
    pending appeal or if the judge will incarcerate them at that time.
     
  11. IJ Reilly macrumors P6

    IJ Reilly

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    #11
    Chances are, the appeal request will be heard, and likely denied, before they are sentenced in September. According to what I've read, they have only one potentially credible basis for appeal, and that is the judge's refusal to move the trial out of Houston. Otherwise, the courts are reluctant to rehear such lengthy, complex and expensive trials. These bad boys are going to jail. I will admit to being amazed.
     
  12. Thomas Veil macrumors 68020

    Thomas Veil

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    #12
    It's a shame this is nothing more than cold comfort to all those people who lost their jobs and pensions because of these crooks. :(

    But yeah, life in prison? I'm okay with that.
     
  13. tristan macrumors 6502a

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    #13
    You know, convicted for 14 serve 7, that sort of thing. Today I'm reading 22 yrs or so for sentencing, so that would mean serving about 12. I think the sentence should be proportional and a deterrent to others, and 7 yrs sounds about right to me.

    One surprising thing I read was that Bernie Ebbers is currently free pending appeal. Shouldn't he be in jail while he's waiting for his appeal? The guy was given 25 years.
     
  14. Dont Hurt Me macrumors 603

    Dont Hurt Me

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    #14
    Im sure they will be on the president lists of pardons.
     
  15. bousozoku Moderator emeritus

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    #15
    That sounds fine, as long as it's a maximum security prison and not the country club prison where they'll likely go.

    After all, what they've done in essence is to take several years away from people's lives.
     

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