I thought you claimed Ken Lay wasn't guilty of anything?


Dave wrote:
A few months ago I was more conversant with the ins and the outs of the
Enron fraud than I am now. Not sure I ever addressed Lay's culpability.
Certainly Andy Fastow was responsible for some accounting fraud, however.

Seems likely to me that the previous CFO was in on the gag too; if Lay
is guilty of nothing else he's is certainly guilty of fraud & conspiracy
to fraud.

I certainly don't know all the convoultions of SEC rules, but advising
other people to buy Enron stock when he himself was borrowing money from
Enron to buy optioned stock and immediately selling it, strikes me as
extremely fraudulent.

DSK