Sleazy Bush pal Lay ADMITS guilt in Enron!

[SushiFan]

Lay admits in court he sold stock for cash, while urging employees and investors to invest heavily in Enron stock. Hmm.... Does "sleaze bag" come to mind?? Wow! Let the bushies try to spin THIS economic news--- It's like money flowing directly from working people into the pockets of the bushies.

EXCERPT:
Lay sold 1,775,000 shares of
stock back to Enron between February and October 2001, when he was publicly
encouraging employees and investors to purchase company stock as "an incredible
bargain."


FROM NEWS SERVICES , Friday, Apr. 28 2006

HOUSTON — Prosecutors on Thursday sought to torpedo Enron Corp. founder Kenneth
Lay's image as a company champion, trying to show he used the ailing energy
giant to bail himself out of personal financial woes in 2001.

Lay got more than $70 million in loans from Enron in 2001 and repaid most by
selling Enron stock, even as he encouraged employees to buy more shares.

Lay didn't disclose those stock sales publicly because regulations required
that sales of shares back to a company be reported only in the year after they
occur.

more at:
http://www.stltoday.com/stltoday/business/stories.nsf/story/46BAB15F2FB328878625715E000E9697?OpenDocument

[redqueen]

1. Will we EVER see the minutes from those energy meetings?

Come on, Americans! Demand accountability!

[Lasher]

4. Yes, we'll see the energy task force minutes

Sometime after this November.

[redqueen]

12. Yeah, if ever, it'll be at a time that causes THEM the least damage.

GRRRRRRRRRRRRR!

[Mandate My Ass]

2. bush is doing the same thing with the treasury

good thing he doesn't know Kenny boy or else that might appear suspicious...:eyes:

[Egalitariat]

3. Sleazy, yes. But that's not a crime, and he wasn't charged with it.

You got my hopes up; I thought you meant he had plead guilty.

[Lasher]

5. Wasn't Kenny Boy requred to report the stock sales? (EOM)

[Egalitariat]

11. Within one year after the sale -- because he sold it to Enron..

if he would have sold them on the open market, the reporting requirements would have been different.

[SoCalDem]

6. Was that the day he gorged himself on Twinkies?

These guys are a piece of work, aren;t they? I think all the "little people" who lost pensions should line up and each one take a few whacks at him..

When they whole thing was happening, I still remeber this one guy.. He had worked at a company Enron had just bought..The guy's pension (29 yrs worth) had been "transferred"..He decided to wait until he hit 30 years so he could get the maximum retirement..he never made it to 30..They bellied up and his pension went with them..

i think when companies buy each other, the pension fund should NEVER go to the new company....Some companies buy other companies JUST to get their hands on a well-funded pension fund they can rob.

[napi21]

8. I;m sure he did report it. The crime is NOT in selling the stock,

the CRIME is when you sell it based on information not available to the public! That is Insider Trading!

[elehhhhna]

7. IT GETS WORSE: His son was SHORTING the stock at that time, also

Shorting means betting the price will go DOWN. What could he possibly knew that the shareholders didn't?

[reichstag911]

9. Where'd you get that...

...about Lay's kid shorting Enron stock? I hadn't seen that.

[Zen Democrat]

10. Here's where I read it ..

http://www.time.com/time/nation/article/0,8599,1188701,00.html?cnn=yes

[reichstag911]

15. Thx to both of you who responded! n/t

[redqueen]

13. It was on my local fox station's morning news today... or maybe bloomberg

Either way... hehehe :evilgrin:

[Gabi Hayes]

14. Beat me...heard it on NPR this morning. the best part: Lay is blaming

the death of Enron in large part on.......SHORT SELLERS!


like his son

can you hit any higher on the irony meter?

[SushiFan]

16. SoCalDem, I LOVE your idea. 'Bout time the working class got a

few things due them. Like a good bitch-slapping of ALL of GWB's sleazy criminal friends! Could be hot fun to see some slappin' of those damn Texas ReThugs.


SoCalDem said in post #8 of this thread:
These guys are a piece of work, aren;t they? I think all the "little people" who lost pensions should line up and each one take a few whacks at him..