Ex-Dynegy Exec Gets 24 Years for Fraud

Discussion in 'Current Events' started by Sun Baked, Mar 25, 2004.

  1. macrumors G5

    Sun Baked

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    #1
     
  2. macrumors P6

    wdlove

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    Oct 20, 2002
    #2
    Maybe this type of sentence will start to wake up corporate America. To realize that this type of thing will not be tolerated. I'm sure that he must have taken some ethics courses in college. So it seems to me that he realized, what he did was wrong.
     
  3. thread starter macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #3
    Do a search on "Judge Sim Lake AND Enron" and you'll see this judges name there quite a bit.

    This should definitely serve as a wake-up call to the lawyers defending Skilling, Causey, and Fastow in the Enron debacle.
     
  4. jsw
    Moderator emeritus

    jsw

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    Location:
    Andover, MA
    #4
    I agree that it shouldn't be tolerated. I think, though, that it's also wrong to make an "example" of someone. 24 years seems like a waste of someone's life. Yes, what he did was bad, but I don't think he had a reasonable expectation of the punishment that was possible, nor of the harm he was actually doing.

    I'd rather see successively stiffer fines and terms so as to raise awareness of the wrongness and possible punishments for doing such things, as opposed to passing some new law and then throwing the book at someone who violates it before most people even knew the law existed.

    I'm not defending the guy - he was wrong. Maybe he was maliciously wrong. But it's just as likely he got caught up in the "game" and didn't fully think through the human impact of his decisions.

    Again, he was wrong. He should not have done what he did. He should be punished. But, does sending this guy to prison for 24 years help society? Doubtful. Restitution, pro bono work, etc. seems like a better way to go.
     
  5. macrumors 6502

    madoka

    Joined:
    Jul 17, 2002
    #5
    Well, there were Federal laws that mandated this sentence, so it's not like this came as a complete shock to a lawyer/accountant.

    Second, I disagree with your overall point. I think these guys deserve such punishment. Stealing perhaps the savings of hundreds or thousands of people ruins more lives than an army of muggers and burglars ever could. When you get mugged, you lose what you have on you. When someone cheats/steals your life savings you could lose your house, face the possibility of living out your retirement on welfare, etc. This is significantly more devastating in the long run.
     
  6. jsw
    Moderator emeritus

    jsw

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    #6
    Oh, I totally agree he needs to be punished.

    I just think that prison won't allow him to help anyone. Extensive parolled community service doing what he's trained at (accounting or law, not book cooking) would serve the community more. Day-release or whatever. Keep him in prison at night if need be. Just make him do some good.
     
  7. thread starter macrumors G5

    Sun Baked

    Joined:
    May 19, 2002
    #7
    Thinking back, Enron was the reason they rewrote the Federal White Collar Crime Sentencing Guidelines -- so they'll probably end up with 10 years or less.

    This guy was indicted on the "day" the Emergency Guidelines for Sentencing went into effect, the Sarbanes-Oxley Act may enhance this type of punishment. :eek:
     
  8. jsw
    Moderator emeritus

    jsw

    Joined:
    Mar 16, 2004
    Location:
    Andover, MA
    #8
    Well, er, yes, um, maybe....

    Dude, it's somewhat difficult to read your replies with that avator of yours. :)
     

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