Thursday, May 25, 2006

Jury: Lay and Skilling guilty.

Kenneth Lay and Jeffrey Skilling were both convicted of conspiracy and fraud in the Enron case. The verdicts, announced just minutes ago, are not yet on the wires, at least not where I can access them.

I'm probably among the majority in being pleased with the verdicts. I think it was always a real stretch to try to believe Skilling and Lay, presidents and chairman of the board, respectively, of Enron, that they had no knowledge of Andrew Fastow's financial shenanigans. How could one possibly believe that the CFO of Enron could bankrupt the company, costing tens of thousands of people billions of dollars, many of them their life savings, without any knowledge whatsoever of the president and the chairman of the company? Preposterous, if you ask me. Preposterous, even if you don't ask me.

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