Wednesday, December 28, 2005

Closer to Enron Justice

Richard Causey, the cheif accountant of Enron plead guilty to securities fraud in exchange for a reduced sentence (likely 7 years) and agreed to testify against chief executives Jeffrey Skilling and Kenneth "Kenny Boy" Lay. This is a welcome development and suggests that he may have information that can help in the prosecution of Lay and Skilling, who thus far have not been punnished. While it will not help with the suffering caused to Enron's employees and stockholders, it will provide a semblence of justice. It should also serve as a lesson and deter such behavior in the future. If Lay and Skilling are sent to prison, it will demonstrate that not even those with lots of money and political connections (Bush flew on Lay's jet during the 2000 presidential campaign) are above the law.

0 Comments:

Post a Comment

<< Home