THE ENRON TRIALS: Lay admits mistakes

[Judi Lynn]

May 23, 2006, 1:56AM
THE ENRON TRIALS
Lay admits mistakes
But he tells the judge he didn't mean to break law and defraud banks

By MARY FLOOD
Copyright 2006 Houston Chronicle

Former Enron Chairman Ken Lay told a federal judge Monday that he repeatedly violated the banking regulations he's accused of flouting but he didn't realize he was doing it at the time.

If U.S. District Judge Sim Lake finds that Lay truly didn't know he was breaking the law and didn't intend to defraud three banks, he could be acquitted on the four personal banking charges being tried before the judge without a jury.

"There's no doubt that we did not fully comply with those documents," Lay said on questioning from his attorney Ken Carroll.

Lay, who called himself the "principal" of this second trial rather than the defendant, is accused of one count of bank fraud and three counts of making false statements to banks. This is over his breaking written promises to the banks that he would not use certain credit lines to buy stock.
(snip/...)

http://chron.com/disp/story.mpl/front/3881289.html

[luckyleftyme2]

1. i hope we give the judges and lays tel# and address out

if they let this scum bag "lay " off or just slap his wrist,i hope every employee that he screwed
out of their retirement and 401k gets both the judges and lays phone # and address.
this smells of big money!

[boobooday]

2. Oh, he's pleading ignorance

Of course, the poor baby didn't know he was defrauding three banks.

Or is he pleading arrogance?

[MGKrebs]

3. Reap the rewards but assume no risk.

Chicken-shit coward punk ass punk. How about all of those shareholders and employees? They knew even less than you about what YOU were doing. Why should they have to pay for YOUR ignorance and incompetence (if it wasn'r greed and corruption)?

[Minnesota Libra]

4. Everyone has to know Bush will save Rove no matter..............

....what it takes. Keep in mind the Bush's have had "loyalty" pounded into their heads by B "ruin your enemies and watch your friends back" Bush since they were small.

[gratuitous]

5. Funny how those "mistakes" put money in his pocket

If someone makes a "mistake" that puts more money in his pocket, expect him to make this mistake over and over again.

Now, for the rest of you lot who aren't overrich, well-connected white guys, if you commit a crime, you'll do some time. But Kenny boy just made a "mistake" and he didn't even know he was making a mistake! Let the unfortunate dear walk, would you?

[Tight_rope]

6. Yeah....I totally agree with you....Fry em'!

[leesa]

7. So true. Since he never knew what was going on, shouldn't he at least

have to pay back all his CEO pay and fringe benefits? Either he was in charge or he wasn't.

[Igel]

11. This is peripheral to Enron.

Personal loans that he misused to buy stock, but repaid.

[aden_nak]

8. Forgetting your car keys is a mistake. What he did was intentional.

[raccoon]

9. Ignorance is his lame excuse?

"he repeatedly violated the banking regulations he's accused of flouting but he didn't realize he was doing it at the time."

Then why in Hades was he CEO?

[UTUSN]

10. Hey, Kenny Boy, those mistakes are called CRIMES n/t