Where are they now?

August 25, 2003 6:08 PM

Where are they now? Hey, remember that guy that was head of that big company that went bankrupt and the employees lost their retirement savings and it turned out the whole thing was just this massive fraud? I wonder what happened to that guy.
posted by raaka (20 comments total)

"Bernard Ebbers, Kenneth Lay and Jeffrey Skilling may never face prosecution, according to former federal prosecutors and securities lawyers."

It's official: crime does pay.
posted by homunculus at 7:23 PM on August 25, 2003

I'm reminded of Anatole France's line about the law, which "in its majestic impartiality, forbids rich and poor alike to sleep under bridges, beg in the streets and to steal bread."
posted by George_Spiggott at 7:31 PM on August 25, 2003

The real question is, can the SEC hold out until January 2005, when Dubya pardons all of them?
posted by PrinceValium at 7:32 PM on August 25, 2003

After Worldcom was fined for the largest act of corporate fraud in history, they were awarded the contract to provide wireless service to Iraq.
I say it's time to shoot some motherfuckers, but that's just me.
posted by 2sheets at 7:34 PM on August 25, 2003

If the government is incapable, then maybe some people take it upon themselves to track down Kenny Boy. They can call it Operation Boba Fett.
posted by euphorb at 7:38 PM on August 25, 2003

Excuse me while I go puke somewhere.

There, I (don't) feel better.
posted by fletchmuy at 7:39 PM on August 25, 2003

"Hi, I'm Ken Lay. I was going to be charged with fraud, but then I heard about this thing called "Political contributions" and I knew my problems would be solved!

"I know what your thinking, how can giving money to a politician prevent me from being charged with a crime, even when it's common knowledge I'm guilty? Simple.

"All you need to to is find a political figure with some power, and give him money. It's just that simple! I looked through the catalogue provided by the nice men at the GOP, and I chose George W. Bush. My investment paid off big time! He's now the President, no really!

"And all this too can be yours for 12 easy payments of $100,000. It's just that easy, and you too can be like me! Free as a bird without a care in the world.

"So sign up today, and give the re-elect George W. Bush campaign some money, it's good for you, and good for the USA!
posted by CrazyJub at 7:43 PM on August 25, 2003

Maybe they will end up "doing a Skase", as we say here.
posted by dg at 8:05 PM on August 25, 2003

Well at least they didn't do something really bad like, panhandling or shoplifting. Then they would do some serious time.
posted by bas67 at 8:24 PM on August 25, 2003

I wonder if they do drugs? Worship a non-Christian God? Suck a little cock from time to time? Let's get some real dirt on these jerks. You know the kind of dirt that will get one prosecuted.
posted by WolfDaddy at 8:41 PM on August 25, 2003

And yet, Martha Stewart they can make do the perp walk for a 250k insider trading transaction.
posted by dejah420 at 10:18 PM on August 25, 2003

It's amusing how if you bounce a check or two, you'll ruin pretty much the better part of American life by being unable to rent a place in anything but the scruffiest of neighborhoods, get your credit cards snipped, have your car repossessed, and possibly get fired.

However if it's a $67 BILLION (with a 'b') check, you can pretty much continue carrying on at your already-exhorbitant lifestyle level.

I hope Mr. Kozlowsky (sp?) enjoys his $6000 shower curtain. Yup, you read that right.
posted by clevershark at 10:41 PM on August 25, 2003

Scoff if you will, but it's the heroic sacrifices of the Ken Lays of this world that make it possible for future generations of corrupt CEOs to carry the sacred torch of fraud forward down the golden road of white-collar crime. Think of the children!
posted by arto at 10:56 PM on August 25, 2003

Thnx raaka for this link - every few weeks I wonder about Mr. Lay. He remains on the list of people I'd like to see on fire. Nice to see similar sentiment shared.
posted by ao4047 at 3:00 AM on August 26, 2003

Problem is, it's not shared by the few people who can do anything about it.

You really get the feeling that every single legislator or prosecutor who should be recovering those billions and nailing these guys' scrotums to a tree someplace has already been paid off. Shit, shit, shit.
posted by chicobangs at 6:45 AM on August 26, 2003

For me, the saddest part is that in the near future, this will happen again and we will still throw up our hands and talk about this at the water cooler. Look how quickly we forgot about the S&L scandals and now at least half-dozen companies viscously stole from their employees. We are too complacent and forgiving. I am surprised no one has put a price on Ken's head.
posted by lsd4all at 9:22 AM on August 26, 2003

The real question is, can the SEC hold out until January 2005, when Dubya pardons all of them?

Can you be pardoned for something before you are charged? I mean, can George just go ahead any give Ken a blanket pardon, with out implying any wrong doing, for "anything he may have done illegally from 1980 to present, not that I think he's done anything wrong"

Seems like it would be wide open for abuse.
posted by Mitheral at 9:58 AM on August 26, 2003

Isn't that what Ford did for Nixon?
posted by infowar at 10:20 AM on August 26, 2003

Yeah, you can do that. Accepting the pardon kinda implies an acknowledgement of guilt, but it's not like there's really any doubt...
posted by nickmark at 12:48 PM on August 26, 2003

Oklahoma AG charges Ebbers, Sullivan, others with 15 counts of violating state securities laws
posted by bk at 10:01 AM on August 27, 2003