No one ever mentions the people that did sell out early. The "lock down" was for only a short period of time. I am sure a lot of middle management did sell some stock to diversify. Lou Pai fell for a stripper at the Men's Club, got divorced, had to liquidate all stock, married said stripper, now largest landowner in Colorado. Talk about luck and timing. Another very large stock holder got out very quitely on a tip from a friend of mine. True story... Susan Bryne of Westwood Capital in Dallas said on CNBC they sold out when Skilling quit. We're gone!! SteveD
So now that he's dead.. and for all those folks who lost their money.. Who's going to pay the restitution?
The people who lost their money have no gripe. They chose to have funds put into a stock sharing plan which the vast majority of American workers do not have. These greedy bastards who were at the peak all millionaires while the folks of California were going through blackouts and huge energy costs because of their bullshit company that was manipulating energy prices and making them all rich. In my opinion they ought to arrest them all and shoot on sight the first prick who whines about his 401k getting whacked. "Hang em High" Rennick out
lol lol lol... rm doesnt like rense. Lay was knocked off... the true villians in all this were skilling and the fastows. Lay was a dupe and took the fall..... thats how these people work. Lay just wasnt real bright (same dynamic here as bush, ie puppet).... was probably going to release some info so they snuffed him. as far as rense goes, he is a whack job. shady background and throws that ufo crap around. his job is to discredit the true patriot movement. same goes for alex jones.... another disinfo artist. they give true americans that only want the truth a bad name.
Some radio commentators were upset yesterday. They felt cheated that Lay did not go to jail. Does anybody share that sentiment? The shock jocks wanted to see him with his face in the toilet and somebody pulling off his pants to administer some "tough love" Like that happens in club Fed. Regarding the idea that he should be punished for ripping off California; the state did not expand it's energy generating capability for decades, then it could not buy what it needed from the Pacific Northwest one summer due to hot weather. The Pacific Northwest hot spell was a statistical certainty, so California's public sector did nothing in the face of a certain crisis. Score one for the public sector. Ken Lay took full advantage of the situation, probably had seen it coming for years and was ready for them. Everybody takes advantage of the public sector, get used to it. The IRS spent 4 billion $ over a ten year period, [$10 B over 4 years, not sure] on a computer system that did not work. The public libraries were buying proprietary computer systems for big bucks when any website developer could have one up and running in a few days, check out the people at the California DMV squinting at their screens and trying to figure out how much you owe, you can get back in line and ask another clerk to check it for you and pay whichever one is in your favor. I made $100 in a half hour doing that. And jeez, punish the employees for working for Enron?? And the lockdown was for a short time, what if it was the short time that the stock was falling fastest? Were executives ever locked down? I heard that they were selling early and often and during the lockdown.