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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Sully- who wrote (46134)	1/10/2002 3:55:38 PM
From: stockman_scott	Read Replies (5) of 65232

<<...Bush, who worked in the oil industry and has known Enron's chairman since he was governor of Texas, also told reporters he had never discussed Enron's financial difficulties with its chairman Kenneth Lay and last met the executive last spring. ``I have never discussed with Mr. Lay the financial problems of the company,'' Bush said, adding that the last time he had seen Lay was last spring at a literacy fund-raising event organized by his mother, former first lady Barbara Bush...>> IMHO, The Democrats have to be VERY CAREFUL about a witch hunt...I have no worries about Bush doing anything improper to help Enron. It's true that a few of his Cabinet members have had discussions with the company BUT that's not against the law. What really needs to be thoroughly investigated is how the Enron Management team AND their accountants could have concealed valuable info. from their shareholders. I feel Ken Lay and his team MUST be held accountable. We have thousands of Enron employees that have no 401ks left BUT Mr. Lay and his top officers exercised hundreds of millions in illegal stock options (since their earnings were fabricated). It's very possible that there was criminal activity that took place...I don't want to see Mr. Lay a few years from now flying around on private jets, playing golf at Augusta, and visiting all his vacation homes like nothing has ever happened. What about all the innocent Enron employees who could not sell their stock in their 401ks...? What about the large pension funds that invested in Enron based on what management was communicating to them...? Someone has to pay. We need some SERIOUS HEARINGS on the level of Watergate...I would love to see Enron's top management team (the current and former group) held accountable --> millions in stock option gains should be returned to the shareholders...If the money is not available then these folks should be forced to liquidate most of their ASSets...I also feel SEVERE PRISON SENTENCES should be considered for Mr. Lay & Co. if large scale fraud was really conducted. LETS MAKE AN EXAMPLE OUT OF THE ENRON MANAGEMENT TEAM...This is the right thing for the country. Lets hope the Justice Department has the balls to step up to the plate and do the right thing. Just my views. Regards, Scott BTW, I have a grad school classmate who has a family in Houston and he lost most of his 401k. Mr. Lay needs to be held accountable for his actions --> he was the captain of the Enron ship while it engaged in activity that lead to the largest corporate bankruptcy in history. The penalties should set some new records too.

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