It's not quite that simple a case. He used his shares of Enron as collateral for another investment. When that investment tanked, he had to sell his Enron shares to cover the loss. Therefore, it was not a voluntary sale. He also continued to buy shares of Enron until the day the scandal broke. It will be a tough case for prosecutors to prove.
I think it's also a bit unfair that he's being tried in Houston, a city that is out for his blood.
$500,000 bail is a joke. And he so arrogantly pleaded not guilty. I am worried though they will not be able to make him take the fall. Wasn't that why they got Arnold into office, to tear up Bustamante's 9 Billion dollar law suit against Enron which needed the Gov's signature?
Jul 8, 04 7:11 pm ·
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Enron Ex-Chairman Lay Indicted for Fraud
finally!
...and in only three years!
Good to see the administration's 'agressive agenda' for corporate responsibility making its impact on us today.
And the timing is good too - can't let Kerry/Edwards get all the media coverage for one day.
Here comes Osama...
not to mention the Tom Ridge Press conf on homeland secutiry today...
It's not quite that simple a case. He used his shares of Enron as collateral for another investment. When that investment tanked, he had to sell his Enron shares to cover the loss. Therefore, it was not a voluntary sale. He also continued to buy shares of Enron until the day the scandal broke. It will be a tough case for prosecutors to prove.
I think it's also a bit unfair that he's being tried in Houston, a city that is out for his blood.
so awesome!!!!!
Have they announced the actual charges yet?
they should take some notes from Putin on this one
Dan, you're right..they should try him in California.
read the actual charges
$500,000 bail is a joke. And he so arrogantly pleaded not guilty. I am worried though they will not be able to make him take the fall. Wasn't that why they got Arnold into office, to tear up Bustamante's 9 Billion dollar law suit against Enron which needed the Gov's signature?
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