KENNETH LAY GOES DOWN , AT NOON<<<<<<<<<<  

katsback 56F
15215 posts
5/25/2006 9:07 am

Last Read:
5/27/2006 8:46 pm

KENNETH LAY GOES DOWN , AT NOON<<<<<<<<<<

WELL VERDICTS IN ,WHEW-HOO, ABOUT F,,,IN TIME!!




TTigerAtty 62M

5/25/2006 10:10 am

A lot of employees and stockholders have been hurt badly in the Enron corruption. I am a capitalist through and through. I have worked for two major corporations. But what happened at Enron and some other companies cannot be allowed to go unpunished. If we don't punish executives involved in corruption of this sort, we will eventually "kill the goose that layed the golden egg". And we cannot allow that to happen in America!

This is not a purely capitalist idea, but I would even be in favor of some kind of fund that public companies would pay into which would protect stockholders of any company like Enron that was by its corporate officers. I don't know how to do it, but I think it should be looked into. Little people (small stockholders and employees) took it in the shorts on this Enron deal and I would like to have a way to partially if not completely make then whole again.


MillsShipsGayly 51M

5/25/2006 11:25 am

"No one is above the law"

Recent high profile cases have found some senior execs guilty.

I think the trend toward de-listing will continue. I know of a company that de-listed just to avoid the hassles. Will that increase or decrease fraud?? dunno .. activist investors (like pivate equity guys) don't allow off-balance sheet interest rate hedges without understanding ;0

TTiger .. that would be tough to do .. but maybe something along the lines of letting people 'deposit' their shares in the banking system .. leverage FDIC coverage?????


TTigerAtty 62M

5/25/2006 6:10 pm

    Quoting MillsShipsGayly:
    "No one is above the law"

    Recent high profile cases have found some senior execs guilty.

    I think the trend toward de-listing will continue. I know of a company that de-listed just to avoid the hassles. Will that increase or decrease fraud?? dunno .. activist investors (like pivate equity guys) don't allow off-balance sheet interest rate hedges without understanding ;0

    TTiger .. that would be tough to do .. but maybe something along the lines of letting people 'deposit' their shares in the banking system .. leverage FDIC coverage?????
Yeah, something like that! Except we can't protect people from making bad investments, e.g. timing the market wrong, picking a stock that just has poor performance without fraud, etc. But court proven executive fraud should be protected by FDIC or SIPC or SEC somehow.


DrDick_Hickey 46M
18 posts
5/25/2006 8:46 pm

I hope these guys don't do well on their appeals. They can still pay top dollar for the best legal representation money an buy in that regard. The mere fact that they can still do that sucks majorly.


Dildo_replacemen 38M

5/25/2006 9:05 pm

Well... I'll add my two cents... not too much though, too much like work.

Any fraud should be prosecuted... not protected or cushioned. True when a publicly traded company goes belly up it's always the little people at the end of the money pool that get hurt, like the stock holders... they get it in the arse. Hence why you can choose something more stable... Bonds anybody! Or just diversify your portfolio.

But a way to solve the problem is to restrict a publicly traded company from providing bonuses or pay to employees that are stock based. Allow the employee to make the decision and investment on their own terms.

You can't cushion stocks... it'll make them less risky and thus less valuable... if you're all for capitalism, you won't want to protect stocks... it doesn't make sense.


goodguysneedit2 56M

5/26/2006 5:56 am

I agree that it's way past time KL got nailed. If he wants to play innocent and unknowing... then put him in prison for being so fucking stupid as a CEO!

I've done some investing myself... yet it's not so much the stockholders that bother me so much, as investing is risky.
What bothersme most is the way the people of this country get perpetually squashed by these greedy cocksuckers who truly deserve nothing more than to be flogged to death by being run through a gauntlet of their victims they've made life difficult for.

Fuck those pigs in the ass with a few folds of Texas-style barbed-wire!

Set a damned precedent here...do NOT give him a golf course in prison...give him a cell with plenty of cockroaches! Scare some wannabe thieves into thinking twice.
AND GET THE DAMNED CORPORATIONS OUT OF THE POCKETS OF THE POLITICIANS!

Sorry Kats... I lost a little composure there.


goodguysneedit2 56M

5/26/2006 7:56 am

BTW...speaking of lockdowns... -wink-

I've seemed to develop this fantasy of late involving two women in Joplin... The honorable state of MO has become rather fascinating in it's appeal.


goodguysneedit2 56M

5/26/2006 9:08 am

Gawd... -deep breathing excercises-.... sensory overload just thinking about it! Wheeeeeeeeeeeeeeeeeeeeeeeee-uwwwwwLLLawdyyyyyy!

(fanning self...)


goodguysneedit2 56M

5/27/2006 5:53 am

    Quoting katsback:
    lmao good!!!{=} retake...sign up for role in journeys 3,,,soon!!
Kats...toss me an E please...I need to be informed here!...LOL


Satyr48 67M
1773 posts
5/27/2006 3:24 pm

I knew many of these guys when I lived in Houston... They used to stop in my restaurant (Cafe Bianca in the Heights) for breakfast occasionally.

Ken Lay was the only decent one.
Skilling and Fastow - especially Fastow - were the ones you wouldn't buy a used car from!
Lay was always running around the world trying to boost support for the company he started and honestly cared about.
He was a "regular" at Bill Clinton's infamous early morning "White House Coffees" where Bubba extorted campaign $$$ ($150,000 in Enron's case)in exchange for regulatory favors, and shot MANY rounds of golf with him too. One result was the relaxation of the SEC regulations regarding the Offshore SPE's that Fastow used to build his house of cards. Ken Lay was just trying to save the company - the others were profiteers who used the fruits of Ken's labors to screw the company and its shareholders, employees, and investors.

Lay personally borrowed MILLIONS to keep Enron afloat and then sold off his stock options for margin calls and to pay the loan notes to keep Enron solvent.

Ken Lay didn't make a penny on his stock sales as the company was failing - he put it all back into the loans and debts made to keep the doors open. When Enron finally went belly up, he was the only one visibly, emotionally and psychologically, and financially crushed - Jeff and Andy were laughing all the way to the bank.

He's guilty alright - But only of trying to save his company against the falling house of cards constructed by Jeff and Andy.

What's a mystery to me is why Ken stayed loyal to them for so long! If they had screwed me like that, I'd tie the noose around their necks myself!

Pleasing women in unbelievable ways for 45 years...
You could be next...


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