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(Reuters)   Enron ex-CEO to be released from prison 10 years early as punishment deemed "too harsh"   (reuters.com ) divider line 55
    More: Asinine, Enron, executive directors, WorldCom, accounting scandals, Sarbanes-Oxley, Arthur Andersen, Jeffrey Skillings, punishments  
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2309 clicks; posted to Business » on 08 May 2013 at 10:45 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-08 07:06:23 PM  
gets to kiss kenny;s cold ass sooner.
 
2013-05-08 07:21:30 PM  
It's always good to see the wheels if justice in motion
 
ZAZ [TotalFark]
2013-05-08 08:48:58 PM  
At least the money he used to buy a lighter sentence went to the victims instead of prosecutors. Some of the victims were actual human beings who lost retirement plans.
 
2013-05-08 08:58:51 PM  
Should have gotten more time in jail

/inb4 conspiracy theories
 
2013-05-08 09:05:30 PM  
Well, Martha Stewart HAS been looking for a date...
 
2013-05-08 09:10:40 PM  

snuffy: gets to kiss kenny;s cold ass sooner.


Ken Lay is the new Bigfoot
kenlayisalive.org
 
2013-05-08 09:12:31 PM  
Texas was the first state to enact [a three strikes] law, doing so in 1974 with a mandatory life sentence.

In Rummel v. Estelle (1980), the Supreme Court upheld Texas' statute, which arose from a case involving a refusal to repay $120.75 paid for air conditioning repair that was, depending on the source cited, either considered unsatisfactory[7] or not performed at all,[8] where the defendant had been convicted of two prior felony convictions, and where the total amount involved from all three felonies was around $230.


As they say, rob a man, and it's a tragedy. Rob a million men, and it's a statistic.
 
2013-05-08 09:14:12 PM  

Triumph: snuffy: gets to kiss kenny;s cold ass sooner.

Ken Lay is the new Bigfoot
[kenlayisalive.org image 454x145]


I'm not partial to conspiracy theories, but depending on the circumstances of his death, that one could be slightly plausible.
 
2013-05-08 09:16:18 PM  
All the justice you can afford.
 
2013-05-08 09:40:42 PM  
Good to know some of those who got ripped off will see some compensation, at least

/I think us rate-payers are still paying for that bullsh*t here in NorCal
//deregulation ain't all it's cracked up to be
 
2013-05-08 09:51:07 PM  
This is a good thing. Vigilantes will just have a chance to get to him 10 years sooner.

When I'm in charge of things around here, you will be able to buy down your sentence, but that makes killing you only a ticketable misdemeanor, like a speeding ticket. OK, maybe not as harsh as a speeding ticket; more like a parking ticket.
 
2013-05-08 10:10:17 PM  
Maybe he could get a job at WGN in Chicago? Report business news then have his brother Tom report the weather?
 
2013-05-08 10:19:28 PM  

impaler: Triumph: snuffy: gets to kiss kenny;s cold ass sooner.

Ken Lay is the new Bigfoot
[kenlayisalive.org image 454x145]

I'm not partial to conspiracy theories, but depending on the circumstances of his death, that one could be slightly plausible.


Closed casket private funeral under military guard. The persistent rumor is that he's in Paraguay.
 
2013-05-08 10:27:47 PM  

Triumph: Closed casket private funeral under military guard.


Ok, that's just asking for conspiracy theories.
 
2013-05-08 10:40:36 PM  

www.larryflynt.com

 
2013-05-08 10:54:07 PM  
Too harsh but Arron Swartz was looking at 50 years for looking at science papers......
 
2013-05-08 10:59:59 PM  
1000's of people lost their retirement in the Enron bankruptcy.
 
2013-05-08 11:14:56 PM  
Kill him, and demand the jury be only people who lost everything.

Call all the victims of Enron as witnesses, too. Every one, and the children of those who died since.
 
2013-05-08 11:18:29 PM  
hell I'm even impressed he's still in jail at all
 
2013-05-08 11:18:55 PM  

SirHolo: 1000's of people lost their retirement in the Enron bankruptcy.


Still, he is going to be released early. He's lucky he's not some poor kid found possessing illegal drugs.
 
2013-05-08 11:20:58 PM  

impaler: Texas was the first state to enact [a three strikes] law, doing so in 1974 with a mandatory life sentence.

In Rummel v. Estelle (1980), the Supreme Court upheld Texas' statute, which arose from a case involving a refusal to repay $120.75 paid for air conditioning repair that was, depending on the source cited, either considered unsatisfactory[7] or not performed at all,[8] where the defendant had been convicted of two prior felony convictions, and where the total amount involved from all three felonies was around $230.

As they say, rob a man, and it's a tragedy. Rob a million men, and it's a statistic.


I am ashamed to say that California's 3-strike law iswas even harsher. We have people in prison for life for petty shoplifting.

/it's been amended, but not before causing grave miscarriages of justice
 
2013-05-08 11:24:12 PM  
They can let him out early... if they pull his testicles out through his nose beforehand.
 
2013-05-08 11:24:31 PM  

Warlordtrooper: Too harsh but Arron Swartz was looking at 50 years for looking at science papers......


6 months, but close enough.
 
2013-05-08 11:28:34 PM  

SirHolo: 1000's of people lost their retirement in the Enron bankruptcy.


They should have diversified their portfolio.
 
2013-05-08 11:34:57 PM  

farkstorm: SirHolo: 1000's of people lost their retirement in the Enron bankruptcy.

They should have diversified their portfolio.


IIRC, their 401k's were locked into Enron stock.
 
2013-05-08 11:45:45 PM  
Considering all the employees who got farked out of their life savings, Florence Super Max would have been too light for Skilling.
 
2013-05-08 11:48:35 PM  
 
2013-05-08 11:48:38 PM  
He was convicted under the old rules, when white collar crime was still somewhat illegal.  These days, he wouldn't even see the inside of a jail.
 
2013-05-08 11:50:00 PM  

farkstorm: SirHolo: 1000's of people lost their retirement in the Enron bankruptcy.

They should have diversified their portfolio.


Why didn't they just buy more money?
 
2013-05-08 11:51:10 PM  
Skilling is from Texas.  Most of Enron's ex-employees live in Texas.

Harsh?  I'm getting an image of the new definition of harsh. Posse, anyone?

He may be better off begging to stay in jail.
 
2013-05-08 11:55:55 PM  
OK, so am I gonna hear Tea Party people cheering for their oppressed hero being released?

/yes, kitty's being an assh0le
 
2013-05-09 12:07:09 AM  
In a fair and just world, Skilling would work for the rest of his life to pay back the victims. He'd only be able to keep the minimum amount of money he'd need to feed and clothe himself and put a roof over his head. Unfortunately, however, that won't be what happens. I wonder how much money this guy will have waiting for him when he gets out?
 
2013-05-09 12:14:06 AM  
Motherfarker basically held the $40 million restitution fund hostage with appeal after appeal after appeal, so now he gets out of jail a decade early. Must be nice to be rich.
 
2013-05-09 12:39:56 AM  
28th Amendment: Provides for an automatic federal dealth penalty for combination of crimes or malfeasance that creates real costs that exceeds the current Value of a Statistical Life as computed by the contemporary best practices.
 
2013-05-09 12:43:58 AM  
In this regressive political climate what he did wouldn't even be prosecuted.  Ken Lay will be be a Congressman from Texas or Florida for his 3rd act.
 
2013-05-09 12:54:32 AM  
Honestly,  this is not a bad deal for the government. I know that some people want him to fry but when one considers the fact that the case is finally out of their hair, the victims will get a little bit of dough, and he'll still wind up spending at least 12 years in jail (real time) it is a reasonable deal for the government. I do not have any objection to it.
 
2013-05-09 01:10:49 AM  
The Enron story is humorous in a sarcastic form. The CEO was one of the scapegoates here. The CFO should have been the one to take the biggest hit here, but it was similar to a mob hit, where the top boss gets the biggest sentence where the guy who pulls the trigger gets the lightest sentence only because he rolls on everyone else.

This is similar to all the other big corps where they manipulated stats to show sales where there was technically none. False churn vs. renegotiation of terms really stemmed all of this. It looks great on paper in where it appears new sales are taking place but in reality, no new assets are acquired but it looked great to the outside investors.


More VP's, directors, managers etc... Should have been held accountable here. Lots of folks knew or had a big idea of knowing something was amiss in the reporting.
 
2013-05-09 01:13:07 AM  
Don't Mess With Texas...if you're poor.
 
2013-05-09 01:14:35 AM  
"Skilling blamed Enron's demise on a credit and liquidity crunch. "
no asshole. it was fraud.

The5thElement: Considering all the employees who got farked out of their life savings, Florence Super Max would have been too light for Skilling.


do you mean the employees who were happy while the stock was artificially inflated due to fraud which they didnt report?
or the employees who were stupid enough to work for a company which FORCED their 401k to be invested only in the company stock?
or the same cretins who let the execs sell their stock/change their 401ks while the employees couldn't bailout?

FARKEM
 
2013-05-09 01:15:49 AM  

Shafty: More VP's, directors, managers etc... Should have been held accountable here. Lots of folks knew or had a big idea of knowing something was amiss in the reporting.


THIS
everyone involved should have seen hard time
 
2013-05-09 01:55:49 AM  

Kittypie070: /yes, kitty's being an assh0le


Make sure you wear lipstick.
 
2013-05-09 05:07:02 AM  

netringer: [www.chicagotribune.com image 120x150]

It will be a nice sunny day to come home, bro.


From a NYTimes article on Tom Skilling, Tommy talking about his lawbreaking thief brother:

"His brother Jeff's incarceration for his role in the Enron financial scandal is an onerous personal burden. "My father suffered a massive stroke the day Jeff did his perp walk," Mr. Skilling said. "It devastated my parents. I watched them die in stages."
 
2013-05-09 06:14:52 AM  
Yes, because killing a few people outright is so much worse than destroying the lives of many people slowly...


"all things being equal"
 
2013-05-09 06:45:08 AM  

Shafty: The Enron story is humorous in a sarcastic form. The CEO was one of the scapegoates here. The CFO should have been the one to take the biggest hit here, but it was similar to a mob hit, where the top boss gets the biggest sentence where the guy who pulls the trigger gets the lightest sentence only because he rolls on everyone else.

This is similar to all the other big corps where they manipulated stats to show sales where there was technically none. False churn vs. renegotiation of terms really stemmed all of this. It looks great on paper in where it appears new sales are taking place but in reality, no new assets are acquired but it looked great to the outside investors.


More VP's, directors, managers etc... Should have been held accountable here. Lots of folks knew or had a big idea of knowing something was amiss in the reporting.


Came here to say this; I loved the book and have watched the documentary multiple times, yet every time I come away thinking that Fastow's sentence should have been much harsher. He was the one making the machinery work and scheming millions off for himself with the little 'side companies' (the 'Raptors' I think). Skilling's a grade A asshole who wanted the keys to the kingdom, and both him and Lay (I believe) were instrumental in setting the framework for all this but Fastow was the one doing all the deeds.

What hit me when I first went through all this (around 2007, just reading up on this stuff) was that in the aftermath I would have figured this would have been a giant turning point in the general public turning against corporations and wall street but in the decade since Enron society has just double-downed on the concept. Like Enron's operating ethos 'There's never a rainy day'.

And Ken Lay is totally in South America somewhere laughing at all of us. He was too rich to have not attempted it.
 
2013-05-09 07:00:12 AM  
I'd like to see mandatory minimums on this type of fraud. Since, you know, there are actual victims.
 
2013-05-09 08:01:10 AM  
Lay him out in lavender.
 
2013-05-09 08:08:04 AM  

Kittypie070: OK, so am I gonna hear Tea Party people cheering for their oppressed hero being released?

/yes, kitty's being an assh0le



Probably. They openly cheer & admire tax cheats. Psychologically, it's like some bizarro world sports fandom -- acquire millions, you're a hero, even when the millionaire's ripping you off.
 
2013-05-09 08:38:18 AM  

Stone Meadow: impaler: Texas was the first state to enact [a three strikes] law, doing so in 1974 with a mandatory life sentence.

In Rummel v. Estelle (1980), the Supreme Court upheld Texas' statute, which arose from a case involving a refusal to repay $120.75 paid for air conditioning repair that was, depending on the source cited, either considered unsatisfactory[7] or not performed at all,[8] where the defendant had been convicted of two prior felony convictions, and where the total amount involved from all three felonies was around $230.

As they say, rob a man, and it's a tragedy. Rob a million men, and it's a statistic.

I am ashamed to say that California's 3-strike law iswas even harsher. We have people in prison for life for petty shoplifting.

/it's been amended, but not before causing grave miscarriages of justice


How else is the for profit prison industry going to make money, and people afraid of their own shadow feel safe?
 
2013-05-09 11:33:54 AM  
The thing that gets me about Enron is that they were so evil, they inspired two seasons of Damages -- and they had to make them about different companies, because it was so unbelievable that a single company could pull off so much shiat.
 
2013-05-09 11:34:06 AM  

Kittypie070: OK, so am I gonna hear Tea Party people cheering for their oppressed hero being released?

/yes, kitty's being an assh0le


Of course if Obama hadn't created this economic mess Enron would never have collapsed and this poor man would have been free all along.

I'm kidding but it wouldn't surprise me.
 
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