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'Kenny Boy': Buck stops there

Kenneth Lay, the former Enron CEO, finally took the stand in the trial concerning the collapse of the company. He claimed to know nothing about the financial shenanigans happening under his leadership, and pointed the finger at his deputy, Andrew Fastow.

"It all begins with the deceit of Andy Fastow and probably not more than one or two other people," said Mr. Lay, 64, referring to former Enron officials who have already pleaded guilty in exchange for lenient sentences and cooperating with the federal investigation of Enron.

Citing the financial schemes of Mr. Fastow and the actions of hedge funds attempting to weaken Enron's reputation before creditors, Mr. Lay said, "All that fed into a firestorm that we couldn't stop."

UPDATE: We just got a press release from UALR announcing that former Enron executive Lynn Brewer, author of "Confessions of an Enron Executive: A Whistleblower’s Story," will deliver the keynote address at the inaugural David W. Kempner Business Ethics Program on May 2. For more information, call 569-3356.

Comments

Has a familiar ring to it...the Boss isn't to blame..."plausible deniability", because he is out of the loop. Right out of Bush's playbook...c'mon...

Very sorry to hijack this post, but it's a long way till Open Line Friday and I'm just wondering what people's feelings are about going to see the United 93 9/11 movie.

Personally, I can't even look at the the previews. Just disturbs me too much and the director's statements that the families want the movie made and want us to see it just can't overcome it for me.

"It all begins with the deceit of Andy Fastow and probably not more than one or two other people," said Mr. Lay

Uh huh. We all heard the tapes of the 2 guys making fun of pumping up Granny's energy bill. There's 2 people right there far far from the upstairs' offices. Mr. Lay loves the Lord, but he loves money more. He's a lying sack and deserves 20 years in a cell with Bubba.

Enron is the 2nd finest example of the coming together of a pack of feral dogs bent on robbing and raping the country.

The number 1 spot is occupied by the Bush-Cheney Crime Family. Fate sometimes throws together people who are not dangerous individually. But as the pack grows and gains strength no one in their path is safe.

If Bush-Cheney, Enron and Halliburton are America's future, I'd just soon take an early powder. I don't want to live in their world. But for our kid's sake, it would be better to stick around and work to put them all in jail.

We don't need the Bible or Bill Gates to know the difference between right and wrong. Wrong has been winning a lot lately. Let's reverse that trend whenever we see it. Think harder!

The update refers to Business Ethics.

Some time ago I found a little book with the title "Business Ethics" in which the author persuasively made the point that there is no such thing as "Business Ethics," "Legal Ethics," "Medical Ethics," "Journalistic Ethics," etc. but only Ethics. There may be codes for various callings that set minimum standards for those callings and the temptations encountered there, but ethics, without a modifier, demands we do right. It requires we be better than meeting minimum standards in rules and codes.

For me scriptures like "love thy neighbor as thyself" and "do unto others as you would have them do unto you" point the way. DBI is correct--we do not have to have the Bible or any individual for us to know what is right. Most of us in growing up have been exposed to enough that we know right from wrong. We have to let what is inside us come to the surface. We must overcome the temptation to let our gratification for the moment control what we do. We must do what is right and fair. That is the road to being ethical. Then we would not have the Enrons and other abuses that have become too frequent.

No Enrons, no Bushes, no Cheneys. Some ignorant preacher must have convinced them that there is a distinction between morality and ethics, and that morality is the one that counts. As in "morally it's wrong to kill someone, but as long as you can get away with it it's ethical".

Sheesh.

Enron is the 2nd finest example of the coming together of a pack of feral dogs bent on robbing and raping the country.

The number 1 spot is occupied by the Bush-Cheney Crime Family. "

Actually just a little stretch and they are ALL one big family. Lay was Bush's largest single contributor and used his jets to get RW lawyers before the courts in FLa
and DC so Bush could be selected in '00.
_

Didn't Reagan start the "I didn't know it was going on" and "I don't recall" bits? It sure has worked well for the Republicans for years, although there is a real possibility that Reagan really didn't know or recall.

Are they ALL coming down with the same thing as Reagan did? Some kind of epidemic...

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