For Ken Lay, Enron's Riches Turning to Ruin

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

  1. zimv20 macrumors 601

    zimv20

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    #1
    from the it-couldn't-have-happened-to-a-nicer-guy dept.

    link

     
  2. leekohler macrumors G5

    leekohler

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  3. blackfox macrumors 65816

    blackfox

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    #3
    I watched that documentary "Enron - the smartest guys in the room" last night. Very well done.

    It was hard to watch and not get pissed. The parts dealing with the manipulation of Energy for California were particularily angering, with traders joking about the crisis as they manufacured it. The refusal of the Federal Regulatory Agency to intervene, and how the crisis got pinned on Gov. Davis and cost him his job.

    To point, there was a quote from Mr. Lay's wife early in the movie whan she was asked what happened to the 300 million her husband had made from selling off inflated stock. She replied: " It's all gone." I had to wonder how do you lose/spend 300 million dollars in such a short time?
     
  4. mactastic macrumors 68040

    mactastic

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    #4
    I guess we know who WON'T be hunting at the Armstrong ranch anytime soon. :D
     
  5. tristan macrumors 6502a

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    #5
    There's a documentary? I read the book last year - great book.

    Fastow was the real crook. I think Lay was just an incompetent who never deserved to be rich in the first place, and then never deserved to stay rich.

    But I still think he deserves some jail time because running a multi-billion dollar company should require some level of competence, and if you're not up to it, and willing to understand the details, you should step down immediately and let someone who can handle it take over.

    Like being a brain surgeon basically - you have certain professional responsibilities that you have to carry out, and if you find that you can't live up to them, but you stay in the profession anyway, there should be serious legal consequences. Ken Lay would have made a good VP of sales, and he should have demoted himself to that role.
     
  6. aquajet macrumors 68020

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    #6
    Good to hear. He can die the poor bastard that he is.
     
  7. XNine macrumors 68040

    XNine

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    #7
    Didn't see the documentary (the gf wanted to watch something girly then, I think).

    All of these higher-ups that cooked the books in such a way that it caused the company to completely collapse should ahve every penny stripped from them and distributed to the workers they screwed over.
     
  8. blackfox macrumors 65816

    blackfox

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    #8
    The documentary is based on the book (by the FORTUNE reporters Mclean and Elkind)

    Without having read the book, I would recommend the documentary as actually seeing footage of these people doing some of this stuff they did with a straight face and seeing and hearing some of the actual recorded conversations and in-house promo material really makes the whole thing that much more visceral than reading it on a page...check it out.
     
  9. solvs macrumors 603

    solvs

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    #9
    Maybe... but just like Bush, even though he's probably just a patsy, he is still complicit to the evil. Glad to hear he lost his fortune. It was ill gotten gains. Meanwhile electricity is still too expensive here in CA. Wasn't deregulation supposed to make prices go down? Kills that theory I guess.
     
  10. mactastic macrumors 68040

    mactastic

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