The Electric Commentary

Monday, July 12, 2004

Ken Lay: Fraud.

According to Chief Executive magazine, former Enron CEO Ken Lay received a total of $200 million in compensation between 1997 and 2q 2001. At least $4.6 million of that compensation was for reaching performance goals that he took credit for achieving. Lay’s defense against a federal fraud inquiry is ignorance. Therefore, either he is a fraud for taking money from shareholders for performance goals while being oblivious to the inner workings of his company and doing nothing to earn them, or he did know what was going on and is a fraud for lying to the Justice Department. Any way you choose to look at it, he’s one pathetic human being.

1 Comments:

  • And if he's guilty (which I think is very likely) he should not get some light minimum security sentence. Who has destroyed more lives, some drug dealer on the corner, a random mugger, or Ken Lay?

    By Blogger PaulNoonan, at 7:11 AM  

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