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Non-Tech : The ENRON Scandal
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To: Mephisto who wrote (1413)1/28/2002 11:10:30 PM
From: TigerPaw  Read Replies (2) of 5185
 
I read in another article (that I can't locate just at this moment) about Lay crying crocodile tears over the stock he lost. He didn't sell it, he lost the stock because it was used as collateral on a loan (from Enron). Millions of shares!

This means he borrowed stupendous amounts of money from the Enron treasury and defaulted on the loan. He got the high dollar value of the stock but didn't have to depress the price by dumping those shares on the market, instead he dumped them on the rest of the Enron employees as they became worthless. A real stand-up guy.
TP
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