Enron's Kenneth Lay Dies

Posted by ryuzaki0 on Wednesday July 5, 2006 @06:44AM from the so-long-and-thanks-for-all-the-sarbox dept.

Don420 writes "This morning the biggest corporate criminal in modern history, Kenneth Lay, died of a massive coronary before he could receive his sentence. Lay was found guilty of being in charge of the scheme that had many lose their live-savings through a scheme of complex offshore holdings and is to thank for our having to live with Sarbanes-Oxely." From the article: "Enron filed for bankruptcy in December 2001 after investigators found it had used partnerships to conceal more than $1 billion in debt and inflate profits. Enron's downfall cost 4,000 employees their jobs and many of them their life savings, and led to billions of dollars of losses for investors."

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Re:As a republican, I'd like to say... by WoodstockJeff · 2006-07-05 09:20 · Score: 1, Flamebait

It's always interesting to read comments about how this is a GOP problem, but it was a Republican administration that refused to grant special favours to Enron, accelerating the collapse of the house-of-cards they built with the regulatory approval of a Democratic administration.
In any case, though, Enron was an obvious fraud to many people. I've always been suspicious of any group that makes the type of claims they did. "Snake oil salesman" comes to mind. Guess I'm too suspicious to listen favourably on 99% of what any corporations trading on stock exchanges have to say...