Friday, January 18, 2002

Enron's Lay Hypes Stock in September Chairman Kenneth Lay told employees the company's stock was "an incredible bargain" on Sept. 26 -- only weeks before Enron fell apart and its stock price plunged, according to a transcript of an Enron intranet chat site obtained by Reuters on Friday. [Reuters] ...and the story just gets better and better...what a guy...what a hero...just rallying the troops...he did this, while he and other executives were selling off their shares...mj 10:50:23 PM

Enron Chief Puts Properties on Sale The embattle chairman of Enron Corp. has put three of his four Aspen properties up for sale, asking a total of more than $15 million. [Las Vegas Sun] ...he's going to need all that money...lawyers are expensive. Of course the second scandal in this whole mess is how much money lawyers are going to make...mj 9:44:47 AM

Campaign Gifts, Lobbying Built Enron's Power In Washington During the administration of the first President George Bush, a new party fundraiser named Kenneth L. Lay was invited to spend the night at the White House. The sleepover was an early coup for the chairman of Enron Corp. and a harbinger of things to come. [Washington Post] ...no matter how you look at this thing, it smells. I wonder if he slept in the Lincoln bedroom [ironic music at this point]. Four things need to come out of this mess...1. The executives need to lose the money they got at the expense of all the shareholders [jail time would be nice]...2. Arthur Andersen needs to be put out of business as an object lesson to the industry [jail time would be nice]...3. Serious campaign financing reform needs to occur [jail time would be nice]...4. Reform the accounting and auditing practices [jail time would be nice]...mj 9:14:02 AM

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