Lay Indicted In Enron

Discussion in 'Current Events' started by Annie, Jul 7, 2004.

  1. Annie
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    Annie Diamond Member

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    http://story.news.yahoo.com/news?tmpl=story&u=/ap/20040707/ap_on_bi_ge/enron_lay_3

    Excerpt:

     
  2. NATO AIR
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    NATO AIR Senior Member

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    my heart aches
     
  3. freeandfun1
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    freeandfun1 VIP Member

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    Good. Now Ken will not be an issue during the campaign!
     
  4. nycflasher
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    nycflasher Active Member

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    He was just some Ann Richards supporter... :rolleyes:
     
  5. freeandfun1
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    freeandfun1 VIP Member

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    Not sure what that was supposed to mean.

    Enron donated MILLIONS to both parties. Granted, the GOP got more from them, but why not; they are the party in power and that is typically how the game works. You seem to forget that the bad dealings of Ken and company OCCURRED during the Clinton years. They just were not EXPOSED until the Bush years. So who, can it be said, did more? Bush as far as I can tell.

    Clinton let the corporations run amok and it has come back to bite all Americans in the ass. EVERY corporate bigwig under indictment are under indictment for scandals that they perpetuated during the 90's. Who was supposed to be watching out for the "little guys" then? Well, the dems and they weren't. But hell, their rants against "big business" do sound good in a sound bites even if they don't mean a damn thing.
     
  6. nycflasher
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    nycflasher Active Member

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    Just saying that it could be more of an issue than you think.

    ...

    Lay was a close adviser and fund-raiser for President Bush and his father, earning him the presidential nickname of "Kenny Boy." Enron contributed $300,000 to the current president's inauguration celebration.

    At one point, Lay had even been considered a contender to become Treasury or Energy secretary in the Bush administration. He is thought to have been one of many energy executives who spoke with Vice President Dick Cheney in a still-secret process to craft a national energy policy in the spring of 2001.

    ...
    http://cbs.marketwatch.com/news/story.asp?guid={98954...
     
  7. freeandfun1
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    freeandfun1 VIP Member

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    and, when did his corrupted acts occur? and during that time how much did he/Enron donate to the DNC?

    And your point is?
     
  8. nycflasher
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    nycflasher Active Member

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    some interesting links:

    A Chronology of Enron Corp.
    7/7/2004 7:58:00 PM

    Jul 07, 2004 (AP Online via COMTEX) -- A chronology of Enron Corp.:

    1985 - Houston Natural Gas merges with InterNorth to form Enron.

    1989 - Enron begins trading natural gas commodities.

    December 2000 - Enron announces that president and chief operating officer Jeffrey Skilling will take over as chief executive from Kenneth Lay in February. Lay will remain as chairman. Stock hits 52-week high of $84.87.

    August 2001 - Skilling resigns after six months; Lay named CEO again.

    Oct. 16 - Enron reports $638 million third-quarter loss and discloses $1.2 billion reduction in the value of shareholders' stake in the company, partly related to a web of partnerships run by chief financial officer Andrew Fastow that had helped the company inflate profits and hide debt.

    Oct. 22 - Enron acknowledges Securities and Exchange Commission inquiry.

    Oct. 24 - Enron ousts Fastow.

    Oct. 31 - Enron announces SEC inquiry has been upgraded to a formal investigation.

    Nov. 8 - Enron revises financial statements for previous five years to account for $586 million in losses.

    Nov. 28 - Enron stock plunges below $1 and questions about its finances mount.

    Dec. 2 - Enron files for Chapter 11 bankruptcy.

    2002

    Jan. 9 - Justice Department confirms it has begun a criminal investigation.

    Jan. 23 - Lay resigns as chairman and CEO.

    Feb. 7 - Fastow and former top aide Michael Kopper invoke the Fifth Amendment before Congress; Skilling testifies, saying he knew of no problems at Enron when he resigned.

    March 14 - Former Enron auditor Arthur Andersen LLP indicted for destroying Enron-related documents.

    June 15 - Andersen convicted of obstruction.

    Oct. 16 - Andersen sentenced to probation and fined $500,000; firm was already banned from auditing public companies and had only a few hundred employees left after its conviction.

    Oct. 31 - Fastow indicted on 78 charges of conspiracy, fraud, money laundering and other counts.

    2003

    March 19 - Enron announces plan to emerge from bankruptcy as two separate companies.

    May 1 - Andrew Fastow's wife, Lea, and seven former executives charged. Lea Fastow accused of participating in some of husband's deals.

    July 11 - Enron files reorganization plan that says most creditors will get about one-fifth of the $67 billion they are owed.

    Sept. 10 - Former Enron treasurer Ben Glisan Jr. pleads guilty to conspiracy, becomes first former Enron executive put behind bars - for a five-year sentence.

    2004

    Jan. 14 - Andrew Fastow pleads guilty to conspiracy in a deal that called for a 10-year sentence and his help in the continuing investigation. Lea Fastow pleads guilty to filing false tax forms in a deal that calls for a five-month sentence and a year of supervised release.

    Jan. 22 - Former chief accountant Richard Causey pleads innocent to conspiracy and fraud charges.

    Feb. 19 - Skilling indicted, pleads innocent to 35 counts accusing him of widespread schemes to mislead government regulators and investors about the company's earnings.

    April 7 - Lea Fastow withdraws a plea agreement after a federal judge balks at a sentencing deal.

    May 6 - Lea Fastow pleads guilty to a reduced charge of filing a false tax form, a misdemeanor, and is sentenced to one year in a federal prison, the maximum sentence.

    July 7 - Sealed indictment against Lay handed up, sources close to the case say; Lay expected to surrender to FBI and appear before a U.S. magistrate July 8.

    source

    Plus, Ken Lay's donations 1983-present:

    http://www.newsmeat.com/fec/bystate_detail.php?st=TX&last=Lay&first=Kenneth
     
  9. freeandfun1
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    freeandfun1 VIP Member

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    Did you click on my link? The one you posted is biased. I see they left off the $100,000 DNC donations made by Enron/Lay. I also see they left off the donations to Clinton.

    Again, as soon as Bush took office, Ken Lay started having problems. All the "bad stuff" was done while Clinton and co was in charge. Why do you conveniently ignore that FACT?
     
  10. freeandfun1
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    freeandfun1 VIP Member

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    NYC you can't defend your position any longer can you?

    Which part of the story the link went to got ya? Was it this one??

     

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