Former Enron CEO claims he did nothing criminal

[Robbien]

HOUSTON — There was a time when Kenneth Lay's close relationship with President Bush brought him power and influence in Washington that was virtually unparalleled among his colleagues in corporate America. Lay, former chairman and chief executive of Enron, now fears those ties may bring him criminal charges.

"If anything, being friends with the Bush family, including the president, has made my situation more difficult," Lay said in a recent interview, "because it's probably a tougher decision not to indict me than to indict me." Lay has been the nation's silent pariah for more than two years.

Now, on the eve of what may be the government's final decision on whether to charge him with a crime, Lay is talking for the first time about the company's collapse in 2001 and the scandal that enveloped it. In more than six hours of interviews, Lay remained steadfast in his expressions of innocence, even as he acknowledged, as head of the company, responsibility for the debacle rests rightfully with him. "I take full responsibility for what happened at Enron," said Lay, 62. "But saying that, I know in my mind that I did nothing criminal."

As Lay describes it, the Enron debacle was the outgrowth of the wrong-headed and criminal acts of the company's finance organization, and specifically its chief financial officer, Andrew Fastow. Lay says both he and the board were misled by Fastow about the activities and true nature of a series of off-the-books partnerships that played the decisive role in the company's collapse.

http://seattletimes.nwsource.com/html/businesstechnology/2001966472_lay27.html

It wasn't me, honest. You gotta believe me. I was deceived!
Poor, poor bamboozled Mr. Ken Lay.

[swag]

1. Ken Lay, Corporate Wormboy and

Gladhander Extraoridinaire.

[alittlelark]

2. Poor Kenny-Boy.....my pump bleeds crude for him

maligned, misunderstood......it was only about the $$$$$$$ and power - not about important stuff...


LIKE GETTING CAUGHT.

[FlemingsGhost]

3. How do you feel about orange jumpsuits, "Kenny-boy?"

I suspect this same cowardly whimpering will be Dubya's defense, as well.

[Neoplatonist]

4. He can also claim he wasn't born...

doesn't make it true.

[the Kelly Gang]

5. in his mind he didn't ..ripping of the shareholders isn't a crime !! (n/t)

[Swamp Rat]

6. Kenny boy studied at the "Nixon School of Denial."

"I take full responsibility for what happened at Enron," said Lay, 62. "But..."

There you have it. A full admission of guilt and a promise to take FULL responsibility. Anything after but is bullshit.

Book him Danno!

[truthisfreedom]

7. if he's charged, which he likely will be, he can defend himself in court.

that's justice for ya. if he's innocent, maybe he'll get off... but it just doesn't wash to have the CEO of such a terrifyingly corrupt organization be completely unaware of what's happening to his company. unless he keeps his door locked all the time and lives in a bubble.

[The Backlash Cometh]

8. civil crime is criminal.

Breach of fiduciary responsibility is something that white collar criminals get away with time and time again. It requires legal action from individuals to stop, and most people don't have the money to take these people on. So these crimes just continue unhindered and unethical behavior is rewarded until it becomes so endemic in the country that cheating and success go hand in hand. The only way to stop it, is to give white collar crime the same priority as street crime.

[AndyTiedye]

13. Pardon?

Kennyboy won't be spending any time in the slammer.
Pardons for the lot on November 3rd.

[acmavm]

9. What's really sad is that the creep is down to his last 20 million.

I sure feel bad for the guy, don't you?

[Eurobabe]

10. the buck stops here dickhead (lay)

suck it up and take your lumps. too bad more aren't held accountable in this way (bu$h)

[hankthecrank]

11. What's the 500 times more for anyway?

When the CEO makes 500 times more then the person on the shop floor of the company makes, what does it buy?? More excuses !!!

How about we tie him up and put him in a room with some of the people who lost their life savings. Or that had to do without during the fake power shortage!

The whole time he was selling his shares of the company he told people in the company to buy more.

Dam those flower petals they never show up on time!! Maybe he got them from the same company that busie got his from!!! :)

[newyawker99]

17. Hi hankthecrank!!

Welcome to DU!! :toast:

[Thor_MN]

12. Unfortunately, Mr Lay, YOU don't get to decide what is criminal with

your small little neo-con mind. I just wish that penalties were proportional. That is, the small-time thug that gets 5 years for stealing a $1000 car would be out and laughing at you long before your X million(s) dollar sentence is up.

[napi21]

14. I've been waiting for his arrest for a LONG TIME!

I'll be cheering when I hear it finally happened!

I love the fact that he's blaming Fastow for everything! I'll tell ya, I think you're going to see the cats scratching each other's eyes out! You're going to see the I'm not taking this hit alone attitude with quite a few of these guys. It'll be fun TV!!!

[Just Me]

15. He had no conscience in profitting off people. Suddenly, he's a "victim".

Apparently, these people are so consumed by everything other than human life,...that,...they have NO souls. They couldn't possibly have souls to cling to every material object none of them can take with them,....and to simultaneously dismiss all the lives they exploit for those material things,....

These people are sick beyond my imagination.

[Rebellious Republican]

16. He takes full responsibility and and a full pardon ......

Absolutely, you bet he takes full responsibility, he knows that Georgie boy has to indict him for the public opinion polls. But whats to worry about he also knows Georgie Boy is going to give him a full pardon on his way out of the White House.

I posted this reply in yesterdays LBN of same article, I guess this would LLBN, Later Late Breaking News, no?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x648655

On edit, posted wrong think, fixed now.

[Sweetpea]

18. And I am not posting on DU right now either.

[struggle4progress]

19. Move to Iraq, Kenny. You'll have immunity there. eom

[TahitiNut]

20. Well, that sure takes a load off my mind. No need to waste time ...

... on a trial, now. After all, why would such responsible person try to deceive us? If it weren't true, why would the media report it? </sarcasm>

[ProfessorGAC]

21. Oh, Well Then. That Settles It

You can go back to your mansion, Ken. If you say you didn't do anything, i guess there's no reason to investigate anything.

What an idiot!
The Professor