So It Goes: Enron Perp Will Get Out of Jail (Almost) Free By Buying Himself Out

[KoKo]

Former Enron CEO Jeffrey Skilling - who spearheaded an epic $40 billion fraud costing thousands of employees their jobs and pensions - but famously claimed, "We’re the good guys" - has reportedly cut a deal with prosecutors to get out of jail a decade early by paying his victims a bit to shut up already. Under the deal, arranged after the kind of complex legal maneuvering rich white men can indulge in, Skilling will stop suing everyone and pay his victims $40 million, or 0.1% of what Enron stole in the first place. In a relative universe, the six years he's served is more than any of the current perps who trashed the economy. Then again, if he was a black guy who held up the 7-11, he'd still be on latrine duty.

-Abby Zimet
http://www.commondreams.org/further/2013/05/09-5

[dogknob]

1. May he be forced to spend hundreds on bodyguards. n/t

[Turbineguy]

2. And since he's one of "the good guys"

Wayne LaPierre can make sure he's armed so he can continue doing harm.

[dixiegrrrrl]

3. Thieving fucker can afford 40 million payment, looks like.

Not to mention a lawyer's bill.

They better make him pay before they release him, don't ya think?

[KansDem]

5. Yeah, I'd be pretty damn sure the check cleared...

...before I'd let him out of prison.

But then, I wouldn't let him out of prison!

[Mr. David]

37. There should be California Bureau of Investigation officers waiting outside of prison

to arrest him and take him to California for screwing California.

And then he can spend the rest of his life in prison, after paying back $1 billion to California from the hidden assets in the Caymans.

And give up the location of Ken Lay, who is not dead, but hiding.

[rhett o rick]

4. I am surprised that the president didnt just pardon him outright.

If I sound bitter it's because our president is letting Gov Siegelman rot in prison apparently because he isnt wealthy.

I wonder what position the president will appoint him to.

[forestpath]

6. +1

[Dragonfli]

8. Well, I think United States Secretary of Commerce is open

Deputy Secretary of Commerce Rebecca Blank has been performing the duties of Secretary of Commerce supposedly until a new one is nominated.

On June 21, 2012 Bryson resigned because, "the work that we do to help America’s entrepreneurs and businesses build our economy and create jobs is more important now than ever and I have come to the conclusion that I need to step down to prevent distractions from this critical mission."

Something high ranking in energy would fit his felonious skill set better, but he would likely be a good man in Obama's eyes "to help America’s entrepreneurs and businesses build our economy"

The Republicans may allow it as well which as we know is the most important thing in the eyes of a centrist, bipartisan thievery being very serious, pragmatic business that must be done, you know, because "something" needs to be done and Republicans and the third way can find tons of "common ground" on these sort of things.

Oh shit, that's been covered already by a very pragmatic choice, what else is open for him?

[kenny blankenship]

42. He missed it by *that* much!

Truly there is no justice in this world. We demand justice for Jeffrey!

[Dragonfli]

63. I know! He is an energy pro, how about energy secretary! Republicans will like that

He will probably sail right through the confirmation hearings! He could help us to take advantage of the new and wondrous fracking tech that will be important, just like clean coal (coal is clean you know, like a bar of black Irish Spring) will be for an all of the above approach along with more oil production to help with the green plan!

Someone will have to assist the awesome CEO Sally Jewell, Ms. Jewell is seen as at least somewhat friendly toward oil and natural gas. She also says she backs an all-of-the-above energy strategy.

Oh fuck! he just missed that one too, Ernest Moniz, a physicist at the Massachusetts Institute of Technology and former undersecretary at the department, praised the U.S. natural gas “revolution” brought about by widespread use of fracking and said it must continue. The Republicans loved the guy and he sailed through senate confirmations with something for every industry.

Mr. Moniz even had kind words for coal, saying the fuel — public enemy No. 1 in the environmental community and among many liberals in Congress — is likely to remain a part of the American energy portfolio, though he stipulated that clean coal (just as clean and fresh as an irish spring I tells ya) technologies are an essential part of that equation.

Mr. Moniz reassured coal-state senators that he believes the fuel won’t be shoved aside.
“We see coal as being a continuing, major part of the energy supply in the U.S., and certainly in the world,”

[msanthrope]

9. Why do you think the President had anything to do with this? Mr. Skilling

won an appeal. The DOJ was ordered to consider a plea agreement before resentencing.

I am assuming that you know enough about this case to comment on the nature of the judicial proceedings. What would you have had the DOJ do differently, specifically?

[abelenkpe]

12. He bought his appeal

Without money everyone knows the situation would be very different.

[msanthrope]

14. Who, precisely, did he buy? nt

[abelenkpe]

71. If he wasn't insanely well to do

there would be no appeal. There wouldn't be teams of lawyers working the system for him. And even if he did get an appeal as a common man it would have taken much much longer. Don't pretend it isn't true. The rules are different for the wealthy than they are for everyone else.

[snappyturtle]

80. +1000

[Demo_Chris]

20. It's Obama's justice department, so it's on him.

The guy stole 40 BILLION dollars while destroying the lives of thousands of everyday Americans. He should NEVER get out of prison.

[msanthrope]

21. What, precisely, is on him? His DOJ is obliged to follow the orders of the court.

Skilling was tried and convicted during the Bush Admin. The overturn of his sentence was a 9-0 SCOTUS decision.

The federal judge who calculated the original sentence erred in his add up.

Tell us what should have been done differently by the Obama administration? Should they not have entered into a plea negotiation, even when expected by the court to do so?

[Mr. David]

39. SCOTUS can bite me.

Skilling does not deserve to be free member of society until _ALL_ $40 billion is recovered.

He needs to remain a prisoner until then.

[Demo_Chris]

44. Simple: instead of a closed door "negotiation" knocking ten years off the sentence...

Take it back to court. The guy stole 40 BILLION dollars and destroyed the lives of thousands of people and he's getting VIP treatment.

[msanthrope]

58. Take what, precisely, back to court? nt

[Rex]

69. I am sure he will be a model citizen when he gets out

I mean it is not like money and power are buying him his freedom. That won't influence anything he does I bet in the future.

[geek tragedy]

22. So, you're whining that Obama's DOJ is following

the law as ordered by the courts.

Typical ODS.

[rhett o rick]

54. Ah the ole "their hands are tied" argument. Bullcrap. They have options and the plea deal stinks.

He should be stripped of all his money for restitution. I doubt he was tried for everything he did. I believe the DoJ works for the 1% and not the 99%. Maybe if Pres Obama appointed someone that represents the 99% to something, I wouldnt be so cynical.

[geek tragedy]

55. The government seized all of his assets.

Their other option was to let the trial court resentence him--under inflexible guidelines that mandate a 14-17 year sentence. So, 15 years is not exactly a cave, especially since it includes a waiver of all future appeals.

[rhett o rick]

57. I think it was 10 years, but might me mistaken. And the government will have to

return his money.

[geek tragedy]

67. No. Virtually all of it--including his house--will be liquidated to pay his lawyers and

the restitution.

[rhett o rick]

68. Do you have a link? nm

[geek tragedy]

70. From 2006:

Mr. Skilling has more assets open to federal seizure than Mr. Lay had, including more than $50 million in cash and securities in a Charles Schwab account, $4.6 million in value at his 9,000-square-foot home in Houston and a condominium worth nearly $580,000 in Dallas, according to the government's forfeiture documents.

Mr. Petrocelli said the government's efforts to go after the assets of his client and those of Mr. Lay illustrated an overreaching of federal authority. "The issue is the recklessness and overzealousness with which the government has pursued the Enron case right from the inception," Mr. Petrocelli said.

At issue, too, are Mr. Skilling's obligations to his lawyers. Mr. Petrocelli's law firm, O'Melveny & Myers, is awaiting more than $20 million of payments from its client for work carried out since last September. "Jeff wants to pay his lawyers, to whom he owes tens of millions of dollars," Mr. Petrocelli said, "and would like to satisfy family obligations including child support."

http://www.nytimes.com/2006/07/06/business/06legal.html

He will be forced to forfeit $45 million, which prosecutors said would effectively wipe out his fortune. . . . Virtually all Mr. Skilling’s net worth, around $55 million, is frozen by the government. He owes O’Melveny & Myers, the law firm that handled his defense, more than $30 million, Mr. Petrocelli said.

http://www.nytimes.com/2006/10/23/business/24enroncnd.html

[rhett o rick]

72. Thank you. I hope he has to work at McDonalds to survive going forward. He is the scum of the earth.

[geek tragedy]

74. Ditto. Nt

[rhett o rick]

25. Ah yes the 1% prevails and everything is in order. This man stole the life savings from millions

including a close friend of mine. Mr. Skilling was allowed to keep his ill gotten gains and use it to buy his way out of jail. He had enough money to badger the legal system into reducing his sentence in agreement that he stop his legal harassment.

Nothing wrong here, keep moving.

I am disappointed in your defense of Mr. Skilling and the corrupt justice system.

As far as our President, with his pick of Penny Pritzker, he has made it crystal clear whose side of this class war he is on. Of course he belongs to the 1% club himself.

Skilling walks as Siegelman rots.

[msanthrope]

31. This was a 9-0 SCOTUS. Are you saying the entire SCOTUS is corrupt?

Or are you suggesting that the President should ignore the ruling?

As for Mr. Skilling, where, precisely, is he walking? He's been in jail for six years, and will be in jail until at least 2017. That's not a small amount of time. It is perhaps not all the time he deserves, but it is within sentencing guidelines.

[rhett o rick]

34. It's funny how we can rationalize every step in the process to justify special treatment that the

wealthy enjoy. Gov Siegelman was politically railroaded and the DoJ has turned their back. The DoJ is fighting tooth and nail to persecute medical marijuana users, and users in states that have said they want it legal. Now you can tell me that each and every step in the Skilling prosecution was legal, but when the smoke clears, the 1% get special treatment.

And I bet Skilling wont be in jail until 2017.

[msanthrope]

61. Siegelman benfitted from the Skilling ruling, too. It resulted in 2 charges against him

being dropped, and time off on the resentence. Did Siegelman get special treatment when 'honest services' was ruled constitutionally vague?

[rhett o rick]

65. Yes, I am sure the Gov is thankful. nm

[Mr. David]

40. The SCOTUS is dead wrong on this one.

This man screwed millions of people and a state.

No, Until every single penny has been replaced, Skillings can remain in prison and rotting.

The U.S. Department of Justice got this one wrong. Skillings should *NOT* be freed before Siegelman gets freed.

[rhett o rick]

49. I agree. The Obama DoJ should get back to busting heads of medical marijuana users.

Just because you suffer a little cancer pain doesnt mean you get to use marijuana. Unless you are of the 1%.

Pardon Gov Siegelman and not Bush/Cheney.

[Mr. David]

38. So the new trial needs to be ordered.

Not because he won by an overturn.

He needs to go back to trial and resentenced to life in prison, without parole.

[msanthrope]

59. Can you point to a sentencing guideline that would provide for that? nt

[Mr. David]

62. Yes. It's called my finger.

And even if Skillings gets out, he still has to answer for criminal charges in California and civil lawsuits up to the wazoo.

It's not over for him. He may buy himself a get-out-of-jail-free tickets, but he's far from done with the justice system.

He better get used to sniffing Manson's odor from next door.

[secondvariety]

82. Lol.

The middle finger.

[grahamhgreen]

73. because he's their buddy

[rhett o rick]

85. Maybe because they belong to the same club. nm

[OnyxCollie]

81. +1. nt

[awoke_in_2003]

7. (In)Justice has a price...

and most Americans can't afford it.

[HiPointDem]

10. since when are criminals able to make deals on their sentences? & why does this asshole still have

so much money?

the parents of petty drug dealers get their *homes* taken away just because they let their idiot sons stay with them.

[Autumn]

11. Because that criminal has so much money

he can pay to play. Sucks but I guess Lady Justice has become a whore.

[Dragonfli]

13. Because there are laws and there are men, and some men are more equal than others

The "more equal" rich men can keep what they steal and buy early release, others are completely above the law (they have even more money so they are "much more equal" and thus too big to jail).

Petty drug dealers are not rich so they aren't so equal, you know what they say, "can't pay the vig, jail is your gig" - "enough money to talk and you get to walk"

They get to steal Dad's or Grandma's property as a bonus because someone has to pay for the drug wars and it sure as hell isn't gonna' be the wealthy "job creators" or the respectable criminals that steal billions and get their bonuses from what they steal or directly from taxpayers.

[msanthrope]

15. When the federal judge who did the original sentencing makes a mistake in the calculation of the

sentence, AND when a statute under which Skilling was prosecuted is adjudged 'constitutionally vague,' then you have a defendant who is entitled to a resentence.

When you have a resentence in the federal system, the prosecution and the defense are generally expected to work on a plea.

That's what happened here.

[rhett o rick]

27. And if he was black and robbed a liquor store, there would be no vagueness in the sentencing.

Interesting how the wealthy can always find a way out. Skilling should not have a dime to his name after what he did.

[msanthrope]

32. If he had robbed a liquor store, he wouldn't be in the federal system. And there wasn't

vagueness in the sentencing--there was vagueness in the statute he was prosecuted under.

I agree with you that Skilling deserves more punishment, including penury.

[rhett o rick]

33. The point is that he is wealthy and gets off. It's personal to me. nm

[msanthrope]

60. Well, he's doing 15 years in the fed pen. That's not 'getting off' but

it may seem disproportionate to the totality of crimes he committed.

[rhett o rick]

66. I am not as disappointed with the amount of time he has to spend as with the

amount of wealth he gets to keep. Why would the overlords allow him to keep his wealth? That's a rhetorical question. The answer is obvious.

[Mr. David]

41. If they screwed up the sentencing guidelines, for Skillings, it's the case of NOT ENOUGH YEARS

in length of his prison terms.

He needs to add another 50 more years before he can gain permission to ask for parole.

[HughBeaumont]

76. I asked this a while ago about Michael Milken, who emerged from prison RICHER than he was going in.

Must be nice when you can get away with multiple felonies relating to securities fraud, serve at a country club jail, get released and be worth two BILLION dollars a couple of decades later.

Turns out he wasn't forced to give up ALL his wealth.

When wealth goes to the top, by hook or by crook, it pretty much stays there.

[HiPointDem]

86. some things never change

[abq e streeter]

16. Disgusting and utterly predictable for America Inc.

[Tierra_y_Libertad]

17. Equal Ju$tice Under the Law...just bring your checkbooks.

[sorefeet]

18. Just another form of legalized

BRIBERY.

[Nye Bevan]

19. Wow. So he so simply called up the judge from prison one day, said "dude! How about this idea?"

"I'll pay $40 million to the victims, and you chop a few years off my sentence!"

Or could there be a tiny bit more to the story? (If there is, it's not in the OP's link).

[geek tragedy]

23. Appeals court ruled his original sentence was too harsh.

ergo this deal.

Restitution was always going to happen.

[Nye Bevan]

24. So a totally misleading and disingenuous OP, in other words.

Talk about omitting pertinent information.

[geek tragedy]

26. Apparently hiring defense lawyers is bribery. nt

[rhett o rick]

28. Your rationalization in favor of this bastard is strange. He ruined the lives of thousands if not

millions and yet you rationalize he should be set free early. He didnt just hire some lawyers to defend himself. They legally harassed the court system with suits and appeals. Only wealth can do that. Of course the justice system decided to change his sentencing, it's all legal. And some here applaud him for beating the system while millions of ordinary people lost their retirements and savings.

I stand with those of the 99% that lost their retirements and life savings, who do you stand with?

[geek tragedy]

46. Skilling is scum. But due process is for the worst scum just

as much for the actually innocent.

His lawyers got a few years knocked off his sentence because the trial judge misapplied the federal guidelines. Not an uncommon occurrence. They didn't get his conviction overturned.

[rhett o rick]

48. I am all for due process but in the case of the 1% it's my feeling they get way more than

their fair share of "process". I have a lot more empathy for those in the 99% that get crushed by process than those in the 1%.

My idea of "due process" for him is to strip him of all his wealth and return it to the victims.

[geek tragedy]

51. Of course those with money fare better in the courts than do

those without.

A good question is whether this means they are able to rig the courts and evade justice, or whether the courts and police trample those who can't afford a team of lawyers.

His criminal conviction and payment doesn't immunize him to civil suits.

[rhett o rick]

52. His wealth pretty much "immunizes" him. My close friend lost his complete retirement and

most of his savings. He is in no position to go up against the wealth of Skilling and his 50 lawyers.

[geek tragedy]

53. Class action lawsuits, state of California etc.

All of Skilling's assets are frozen and held in trust by the USG. He also owes his defense team $30 million supposedly.

[rhett o rick]

56. Sure, class action law suits. The new scam. The lawyers settle for a fraction and then keep 30%

(millions) for themselves. By the time the common people get their share, it's a pittance. Only in America. Land of the oligarchs.

[Mr. David]

43. I disagree with the appeals court.

And it is not harsh enough. He needs to be in solitary confinement for the rest of his life, no more visits, no more letter-writing, no more phone calls.

Skillings needs to find himself in the hole, with the key thrown away, and forgotten.

[geek tragedy]

47. Federal sentencing guidelines are not very flexible.

It's formulaic, rather than "what does this bastard deserve?"

[Ilsa]

29. And the $40 mil is what percent of his net worth?

How well has crime paid for this crook? And only six years served after ruining thousands of lives of employees, pensioners, investors.

[Egalitarian Thug]

45. Don't forget Milkin paid about .01% of what he stole and spent 18 months in a federal

minimum security facility while he wrote his book. He walked away a billionaire and is now making even more money stealing your kid's education budget.

Who says crime doesn't pay? The Country Club set becomes the Country Club set by stealing huge piles of money, it's the small time crooks and pot smokers that go to jail.

[rhett o rick]

50. And Ken Lay played dead and moved to Dubai. nm

[DinahMoeHum]

30. Here's hoping the fucker looks over his shoulder from now on.

[customerserviceguy]

64. And here's hoping

Eventually he will see someone over his shoulder, coming for him hard. Maybe somebody he screwed over who's dying of cancer, and doesn't have a damned thing to lose.

[Initech]

35. No justice for financial terrorists.

[Mr. David]

36. California can take him to Q. Easily.

Enron screwed California, and someone has to pay.

Why not Skillings? Let him rot there next to Manson.

[kelliekat44]

75. Well, the smart pols would use this mightily against the GOP from now until 2016...

It's the Obama Justice Department but they the are following the law and everyone knows the SCOTUS is packed with RW backers. But the nation needs to be reminded that it's the uber wealthy who can steal from working men and women, take their pensions, attack their unions, and still not pay the price. It's still corporate America that is as much an enemy of the people as the RW would have you believe that government is.

[erpowers]

77. Make Him Pay the Fine Keep Him in Jail

It is very sad that he will get out after paying $40 million. They should make him pay the fine and keep him in jail. I am not saying that the federal government should trick Jeff Skilling. My point is the fine should be mandatory and not come with Skilling being released from prison.

[HughBeaumont]

78. See: Milken, Michael.

Once wealth goes to the top, not even prison will keep it from leaving.

[midnight]

79. Money trumps peace......

[sulphurdunn]

83. I can't figure

how he has $40 million to buy his way out with. Had justice been served this guy would do all his time and then walk with a nothing but a cheap suit and a cardboard suitcase.

[frylock]

84. i'm hoping some form of vigilante justice takes place..

and i'm not being glib.

[Rain Mcloud]

87. Here we go again.......

Remember the Savings and Loan fiasco in the '90s?
This does not get much play in the media anymore since it makes the case against deregulation of the too big to fail/jail.
Specifically the Silverado Savings and Loan comes to mind when Neil Bush and his business partners made off with $100 million and gave back $50,000 in fines which cost the taxpayers $1.3 Billion dollars.

Since he was a Bush and deregulation and oversight was banned then it was no big deal apparently.

"The U.S. Office of Thrift Supervision investigated Silverado's failure and determined that Neil Bush had engaged in numerous "breaches of his fiduciary duties involving multiple conflicts of interest." Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, the Washington Post reported.[27]

As a director of a failing thrift, Bush voted to approve $100 million in what were ultimately bad loans to two of his business partners. And in voting for the loans, he failed to inform fellow board members at Silverado Savings & Loan that the loan applicants were his business partners.[citation needed]

Neil Bush paid a $50,000 fine, paid for him by Republican supporters,[28] and was banned from banking activities for his role in taking down Silverado, which cost taxpayers $1.3 billion. A Resolution Trust Corporation Suit against Bush and other officers of Silverado was settled in 1991 for $26.5 million."
Source: Wiki

Read more here:[link:http://en.wikipedia.org/wiki/Savings_and_loan_crisis|