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Jeff Skilling Sentenced to 24 Years (Enron CEO)
WCHS Portland ^ | October 23, 2006

Posted on 10/23/2006 1:11:20 PM PDT by Lunatic Fringe

Breaking


TOPICS: Breaking News
KEYWORDS: corporatescandals; dupedinvestors; enron; kenlay; skilling
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1 posted on 10/23/2006 1:11:22 PM PDT by Lunatic Fringe
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To: Lunatic Fringe

CNN.com

Former Enron CEO Jeffrey Skilling has been sentenced to 24 years in prison for his role in one of the biggest corporate scandals in U.S. history, CNN confirms.

So long, Jeff... don't drop the soap!


2 posted on 10/23/2006 1:12:32 PM PDT by Lunatic Fringe (Say "NO" to the Trans-Texas Corridor)
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To: Lunatic Fringe

who?


3 posted on 10/23/2006 1:12:44 PM PDT by boxerblues
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To: Lunatic Fringe

I don't think he will serve his full sentence.


4 posted on 10/23/2006 1:13:40 PM PDT by kinoxi
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To: Lunatic Fringe

Wow; sounds like Ken Lay demise makes Skilling THE new Enron posterboy. He would have gotten less than 24 years if Ken Lay were around to take some of the heat. Ken's way of sticking to the guy who turned on him.


5 posted on 10/23/2006 1:15:44 PM PDT by Swanks
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To: kinoxi

Federal prisoners generally serve their full sentences. Unless Bill Clinton is president and he has only a few days left in office.


6 posted on 10/23/2006 1:18:22 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Swanks

I disagree. Skilling was more culpable than Lay. And Fastow, who received a short sentence, was more culpable than both combined.


7 posted on 10/23/2006 1:19:25 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Lunatic Fringe

The judge also ruled that he cannot be freed during his appeal.

Report to jail. Report directly to jail.


8 posted on 10/23/2006 1:20:07 PM PDT by Dog Gone
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To: Lunatic Fringe
20 years on average for a murder
24 years for financial fraud


... sounds to me like there was more than just a little bit of emotion in the sentencing.
9 posted on 10/23/2006 1:20:50 PM PDT by taxcontrol
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To: Lunatic Fringe

Understood but stewart received 28 months hmmmm


10 posted on 10/23/2006 1:21:48 PM PDT by italianquaker (Democrats and media can't win elections at least they can win their phony polls.)
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To: Lunatic Fringe

A white white collar criminal is going to serve nearly twice the time a treasonous, Islamofascist symp lawyer is going to serve? But...but...I thought corporate criminals got a free pass under the Bushitlerhalliburton Administration!


11 posted on 10/23/2006 1:21:58 PM PDT by L.N. Smithee (Normal people would kill to save their kids. Muslim fascists raise their kids to die killing others.)
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To: Lunatic Fringe

Interesting that thirty months, ala Lynne Stewart, wasn't the sentence.


12 posted on 10/23/2006 1:22:33 PM PDT by OldFriend (CNN CELEBRATING THE DEATH OF OUR HEROES)
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To: Lunatic Fringe

Most murderers get off in less.


13 posted on 10/23/2006 1:23:38 PM PDT by Brilliant
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To: italianquaker

GMTA


14 posted on 10/23/2006 1:23:49 PM PDT by OldFriend (IF YOU MUST BURN OUR FLAG, PLEASE WRAP YOURSELF IN IT FIRST)
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To: Dog Gone

Jeff meet Bubba, Bubba meet Jeff.


15 posted on 10/23/2006 1:25:13 PM PDT by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: taxcontrol

Yes - the sentencing was excessive. The man committed fraud - he didn't murder anyone.


16 posted on 10/23/2006 1:25:17 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Lunatic Fringe; All
A white white collar criminal is going to serve nearly twice the time a treasonous, Islamofascist symp lawyer is going to serve?

I meant to type "twelve" rather than "twice," but more accurately, it's like eleven times longer.

17 posted on 10/23/2006 1:25:35 PM PDT by L.N. Smithee (Normal people would kill to save their kids. Muslim fascists raise their kids to die killing others.)
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To: Brilliant
Most murderers get off in less.

Yeah, but Skilling chose to break a federal law, not a state one.

Big difference.

292 month sentence which means he's going to the big house, not Club Fed.

18 posted on 10/23/2006 1:25:42 PM PDT by Dog Gone
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To: Dog Gone
Whole heartedly agree. Guess if on average you serve 1/3 of the time and are eligible for parole. Skilling will be "on vacation" for at least 7 years at a country club.
19 posted on 10/23/2006 1:26:43 PM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: Dog Gone

No, he got home confinement pending the recommendation of the Bureau of Prisons. My guess is that he flees the country tonight.


20 posted on 10/23/2006 1:26:44 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: wideawake

I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire. Thsi sentence is way to short.


21 posted on 10/23/2006 1:27:43 PM PDT by Hydroshock ( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
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To: Lunatic Fringe

He could always get the sentance vacated by appealing and then dropping dead.


22 posted on 10/23/2006 1:29:18 PM PDT by No Truce With Kings (The opinions expressed are mine! Mine! MINE! All Mine!)
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To: wideawake

Yes, but Fastow sang.


23 posted on 10/23/2006 1:30:48 PM PDT by 38special (I mean come'on.)
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To: Lunatic Fringe

I heard he was thinking of offing himself. He might've been better off, since he'll die in prison now.


24 posted on 10/23/2006 1:31:03 PM PDT by Tolsti
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To: taxcontrol

A friend of mine who was very astute about these things once pointed out that the Federal government will pursue perpetrators of financial crimes with an intensity that they don't have when it comes to any other crimes -- even murder.


25 posted on 10/23/2006 1:32:02 PM PDT by Alberta's Child (Can money pay for all the days I lived awake but half asleep?)
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To: Lunatic Fringe
Image Hosted by ImageShack.us Unless he tries the Ken Lay way to avoid jail time...
26 posted on 10/23/2006 1:32:38 PM PDT by pillut48 (CJ in TX (Bible Thumper and Proud!))
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To: Hydroshock
I have a friend at church who lost literally 75% of the 401k, they will most likely never be able to retire.

If they hadn't made the most unintelligent retirement decision than anyone can make, Jeff Skilling couldn't have hurt them.

They decided to make themselves vulnerable by putting all their retirement eggs in one basket.

Their retirement situation is almost entirely their own fault.

My employer's stock constitutes less than 8% of my investments - if my employer turned out to be run by even worse crooks than Skilling, Lay and Fastow I would still be just fine.

If you don't diversify, you are begging for financial trouble.

27 posted on 10/23/2006 1:32:43 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: K-oneTexas

The whole 1/3 of the sentence thing is long gone, I think today under Federal guidelines the minimum is 80% and I believe anything over twenty years means low security rather than a minimum security "camp."


28 posted on 10/23/2006 1:32:53 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: taxcontrol
20 years on average for a murder 24 years for financial fraud ... sounds to me like there was more than just a little bit of emotion in the sentencing.

Or a sentence reflecting a logical accounting of the (literally) thousands of persons who lost most of their savings as a result of Enron's illegalities.

Perhaps murderers should spend more time in jail, instead of watering down the penalty for committing a host of illegalities and frauds.

29 posted on 10/23/2006 1:32:56 PM PDT by Diddle E. Squat
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To: Brilliant
Most murderers get off in less

I agree. There's something wrong with a system in which a murderer gets less of a sentence than a white collar criminal.
30 posted on 10/23/2006 1:33:19 PM PDT by reagan_fanatic (The fool hath said in his heart, there is no God." (Psalm 53:1))
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To: wideawake
It is amazing that the Feds were not really able to prove their case without Fastow. He created all the corporations and no one from what I read could decipher his doings. Except him, very convoluted. And he gets the "tap on the wrist" for a sentence.
31 posted on 10/23/2006 1:33:25 PM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: Hydroshock
Anyone who has 75% of their retirement assets invested in shares of a single company is asking for trouble and deserves no sympathy.

Most people who got screwed in the Enron fraud were stupid, greedy, or both.

32 posted on 10/23/2006 1:34:57 PM PDT by Alberta's Child (Can money pay for all the days I lived awake but half asleep?)
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To: Diddle E. Squat

I agree, the problem is that murderers are even released at all, not that people who defraud thousands of their life savings are given 24 years.


33 posted on 10/23/2006 1:35:00 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: Tolsti
He's a healthy, trim 52.

He will not be put in stir among violent criminals but will be among his own kind - tax-cheats, fraudsters, etc.

He could easily make it to age 76 as long as he has support from his family and occupies his time in some worthwhile capacity.

34 posted on 10/23/2006 1:35:17 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Lunatic Fringe

I didn't see any monetary fine for his role in this sham. Was that released previously?


35 posted on 10/23/2006 1:36:32 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
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To: taxcontrol

Murders should get death.

And people who destroy the life savings of millions of hard working people deserve death as well.

I would shoot the B**t$$d!

And the Dot.com culprits as well.


36 posted on 10/23/2006 1:36:50 PM PDT by Prost1 (Fair and Unbiased as always!)
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To: wagglebee

The only people who were defrauded of their life's savings were people who wanted to be defrauded of their life's savings - people who were utterly negligent of their retirements.


37 posted on 10/23/2006 1:36:58 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: wideawake

IIRC, Most of the Enron employees didn't have any say in where their money was invested, and when the company was collapsing they were prohibited from pulling their money out.


38 posted on 10/23/2006 1:37:21 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: taxcontrol
Skilling was convicted of one count of conspiracy, 12 counts of securities fraud, five counts of making false statements and one count of insider trading. Commit that many separate murders and I bet you get over 24 years...
39 posted on 10/23/2006 1:37:23 PM PDT by shuckmaster (An oak tree is an acorns way of making more acorns)
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To: Diddle E. Squat
Skilling's indictment was for:

10 counts of insider trading;
15 counts of securities fraud;
4 counts of wire fraud;
6 counts of making false statements to auditors,
and one count of conspiracy to commit wire and securities fraud.
40 posted on 10/23/2006 1:38:14 PM PDT by taxcontrol
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To: K-oneTexas
Indeed.

Fastow worked Lay and Skilling expertly, and then he worked the Feds expertly.

He'll be living well surrounded by his grandkids while Skilling is rotting in rpison and Lay is rotting in the ground.

41 posted on 10/23/2006 1:38:59 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: taxcontrol
20 years on average for a murder

24 years for financial fraud.

... sounds to me like there was more than just a little bit of emotion in the sentencing.

The stress that he cause many employees and shareholders has undoubtedly led to early death for many of these people. That's makes it a multiple murder in my book.

42 posted on 10/23/2006 1:39:54 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
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To: wideawake

$60 billion in equity disappeared when Enron collapsed, several thousand people lost their jobs, if you think that the only people affected by Enron were the ones who had all of their money in Enron, then you are extremely naive.


43 posted on 10/23/2006 1:40:51 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: Lunatic Fringe

Am I the only one on this forum that is suspicious about this sentence being delivered two weeks before a major election? Who is the judge?


44 posted on 10/23/2006 1:42:00 PM PDT by the_Watchman
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To: wagglebee
Most of the Enron employees didn't have any say in where their money was invested

They absolutely had a say in where their money was invested. They voluntarily chose Enron stock, because it was available to them at a discount to market value.

and when the company was collapsing they were prohibited from pulling their money out

During the time when Enron stock fell from $85 to $15 they were fully able to pull out. They held on until the stock fell below $15 and the plan administrator froze the plan assets for 60 days.

Again, that was their decision and theyn were informed well ahead of time that the plan would be frozen if the administrator saw fit.

45 posted on 10/23/2006 1:42:34 PM PDT by wideawake ("The nation which forgets its defenders will itself be forgotten." - Calvin Coolidge)
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To: Rockitz

They are taking most if not all of his money.


46 posted on 10/23/2006 1:42:55 PM PDT by wagglebee ("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
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To: wideawake

Wrong. See my post# 42.


47 posted on 10/23/2006 1:42:59 PM PDT by Rockitz (This isn't rocket science- Follow the money and you'll find the truth.)
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To: wagglebee
Enron could not require its employees from investing their money in company stock. Companies are prohibited by law from doing that kind of thing.

It's possible that one exception may involve mandatory investment of matching company contributions to an employee's 401(k) plan -- in which case the money never really belonged to the employees anyway.

48 posted on 10/23/2006 1:43:37 PM PDT by Alberta's Child (Can money pay for all the days I lived awake but half asleep?)
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To: wagglebee

I remember pretty much the same thing, their 401K account we basically company pensions in the form of company stock.


49 posted on 10/23/2006 1:44:34 PM PDT by A Texan (Oderint dum metuant)
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To: Lunatic Fringe

Wow and just think if only he had aided an abetted a terrorist he would have got 24 months... Jeez this country really has its priorities straight.


50 posted on 10/23/2006 1:45:30 PM PDT by tomnbeverly (Terrorists cut our heads off and get medals. We put hoods on theirs and get sent to prison. hmmm)
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