'Former Enron Executive Rocks Court' Anyone know what this means for Ken

in_cog_ni_to

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 10:35 PM
Original message

'Former Enron Executive Rocks Court' Anyone know what this means for Ken

Lay? Sounds pretty damn bad for Fastow and Skilling. Fastow worked a deal though with the prosecutors, didn't he?

Former Enron Executive Rocks Court
By MICHAEL GRACZYK and KRISTEN HAYS, Associated Press Writers
3 hours ago

HOUSTON

<snip>
"Fastow said, 'LJM is a good deal for me,'" Kevin Hannon, then chief operating officer of the company's flailing broadband unit, told jurors in the fraud and conspiracy trial of Lay and Skilling.

"As I remember, (Fastow's comment) was met by stunned silence," Hannon said.

"Did Mr. Skilling say anything?" prosecutor Cliff Stricklin asked.

"Yes. He said, 'They're on to us,'" Hannon said. "It seemed to indicate the investment community was beginning to understand how Enron made money."<snip>

http://www.comcast.net/finance/index.jsp?cat=FINANCE&fn=/2006/03/02/337219.html&cvqh=itn_enron

Printer Friendly | Permalink | | Top

WiseButAngrySara

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 10:41 PM
Response to Original message

1. Sorry for my ignorance, but what is LJM? n/t

Printer Friendly | Permalink | | Top

catzies

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 10:42 PM
Response to Reply #1

2. LJM was the name of one of Enron's sham subsidiaries. n/t

Edited on Thu Mar-02-06 10:42 PM by catzies

Printer Friendly | Permalink | | Top

in_cog_ni_to

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 10:47 PM
Response to Reply #1

3. Just one off the sham partnerships used to manipulate earnings...more

<snip>prosecutors contend they knew the LJM partnerships were among tools used to manipulate earnings so the two men could present a falsely rosy picture of Enron's health to investors.

Hannon has admitted to conspiracy for helping promote the weak broadband unit as healthy.<snip>

Printer Friendly | Permalink | | Top

WiseButAngrySara

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 11:57 PM
Response to Reply #3

6. Thanks! I thought it was a legal term! K & R for this article. ....n/t

Printer Friendly | Permalink | | Top

0007

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 10:50 PM
Response to Original message

4. This is music to my ears.

Will junior pardon Lay & Skilling? Or just Kenny Boy?

Printer Friendly | Permalink | | Top

in_cog_ni_to

(1000+ posts) Send PM | Profile | Ignore

Thu Mar-02-06 11:05 PM
Response to Reply #4

5. Mine too. It's been a LONG time coming.

I don't know how much money Skilling donated to the BFEE. If he didn't give BIG BUCKS, he'll probably go down, wouldn't you think? Ken Lay will probably get a pardon. It'll be one more way for the wealthy to slap the peon worker in the face.

Printer Friendly | Permalink | | Top

0007

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-03-06 07:13 AM
Response to Reply #5

8. At least I hope the attorneys take all of Kenny Boy's money.

He probably has few million stashed away. I do think Skilling is screwed!

Printer Friendly | Permalink | | Top

NastyRiffraff

(1000+ posts) Send PM | Profile | Ignore

Fri Mar-03-06 12:09 AM
Response to Original message

7. Kenny Boy knows too much...

about the Bush family. Chimp will have to pardon him.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Mon May 13th 2024, 05:34 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.