<p>Is anyone following the Enron trial?</p>
<p>What are your views on Skilling and his defense?</p>
<p>I just don’t see how anyone could have earned the big bucks in a responsible position at a big corporation, and yet maintain he knew nothing about activities that led to the company’s downfall within months of his exit.</p>
<p>I recommend “Conspiracy of Fools” by Kurt Eichenwald. There are several Enron books out there, but this one is very well-written and researched (though madly episodic, which made it challenging to read). From the book, I believe that Kenneth Lay was primarily clueless, and that Jeffrey Skilling willingly looked the other way, but that Andrew Fastow was the real bad guy - absolutely conscienceless. He should have gotten a million years in prison.</p>
<p>I haven’t seen “Enron: The Smartest Guys in the Room” yet - I keep forgetting to rent it. I wonder how the rank-and-file employees will ever get through the rest of their lives after being so financially ruined.</p>
<p>I did see “Enron: The Smartest Guys in the Room.”</p>
<p>That showed that Lay stood up and told employees that everything was peachy within days of the whole thing crashing down.</p>
<p>Also, what about all these shell corporations that were put together to manipulate the financials?</p>
<p>Surely both Lay and Skilling knew about them – or, even if they “looked the other way,” (are you really innnocent if you intentionally look the other way?) they should be held responsible for what was going on on their watch.</p>
<p>Oh, I completely agree - I’m sure they’ll both get long sentences, and they deserve them. I’m just saying that Fastow happily broke the law in the full knowledge of what he was doing, out of an epic sense of entitlement. Skilling was weak enough and vain enough to put his trust in Fastow because he loved the results the guy was pulling in, even though Skilling knew Fastow wasn’t trustworthy. Lay just blithely assumed that all was well. He’s a good buddy of our prez, you know - or was.</p>
<p>It’s obvious to us that both Skilling and Lay are guilty, but it is not clear to me there is evidence to convict. Fastow devised all the bogus partnerships and stole $millions. None of that money went to Lay and Skilling. And even the auditors signed off on those partnerships, which in theory should have been enough to satisfy Lay and Skilling. I have seen top executives literally put their hands over their ears to signify, “Keep doing whatever it is you are doing but don’t tell me more than I need to know.” </p>
<p>I would like to see them all rot in jail, and they have certainly already been convicted in the court of public opinion, but I won’t be totally shocked if the verdict comes down not guilty.</p>
<p>NJres, I fear you are correct.</p>
<p>On what basis do you think they are most likely to be convicted, if, indeed, they are?</p>
<p>Can’t a person be held liable even if he/she “didn’t know,” like parents being held responsible for underage youth drinking in their homes?</p>
<p>After conviction, I think they should sell off their body parts. ;)</p>
<p>That “Smartest Guys” movie is well worth seeing. We got it from Netflix and have been lending it to the neighbors. Mini, I think if those guys sold off their body parts they would find a way to eviscerate some other poor slob while walking away intact. :(</p>
<p>Probably the most disgraceful thing about the whole Enron mess is that the attornies, Vinson and Elkins, got off scott-free.</p>