O Frabjous Day! Callooh! Callay!

Kenneth Lay and Jeffrey Skilling were found guilty - Lay on all charges, Skilling on just nineteen charges. Nineteen? That'll do. Even these convictions only touch the edges of their crimes. As for their sins, there is no human law to punish the hypocrisy and hubris that was Kenneth Lay's creed.

The Crimes Convicted
Lay and Skilling were convicted for bank and securities fraud and conspiracy relating to the collapse of Enron. They were lying to investors, lying to their employees, lying to the banks. Building Enron into more of a confidence scam than a business. Because of their acts countless families were financially destroyed.

The Crimes Not Addressed

In 2000-2001, California was hit by an energy crisis. Enron gamed the electricity trading system using schemes called "Death Star" and "Get Shorty" to drive the price of electricity up by 1000%.

There is a single connection between northern and southern California's power grids. I heard that Enron traders purposely overbooked that line, then caused others to need it. Next, by California's free-market rules, Enron was allowed to price-gouge at will. ~ Former Enron employee in a letter to Senator Barbara Boxer, 2002

Hubris and Hypocrisy
Skilling blamed others for the collapse of Enron. It was short-sellers, faithless stock analysts, anybody, everybody else. Lay went to a God. He started having photo ops at church. He began carrying a bible more prominently than Elmer Gantry. His PR campaign presented him as almost the thirteenth apostle.

With certain appeals, and plenty of dirty money for bail and lawyers, it is hard to believe either man will spend much time paying for their crimes. Still, there was a little spark of justice today. In these times, even a spark is remarkable.

tag: kenneth lay, enron