Is Lay Lying ?

[billyjoe]

The headlines read "Lay blames Fastow and Wall Street Journal"

Which came first "The Apprentice" or the Enron scandal? Each week we see the failed project manager try to redeem himself in front of Donald Trump. The most common tactics are to accuse the underlings of incompetence , ignorance , indifference , or stupidity. If all else fails, outside forces, beyond human control, are blamed.
Kenneth Lay, disgraced former CEO, is mimicking Trumps contestants. Lay said that CFO Fastow hid his trickery from the boss and if you don't believe that, blame the Wall Street Journal and their conspiring short selling subscribers. It appears that it was anyone but Lay that caused Enron's multi billion dollar downfall. I forget, what is the CEO's job description again ?

billyjoe

[Peter Hansen]

Lay Lying...... Ha ha ho ho he he

Wow... never were the words "Cover Your Ass' more relevant LOL. I only feel sorry for the poor workers who lost their entire pension in that Enron Fraud!

[Jim Smith]

yes, he's lying.....Here's an even better question: Will President Bush pardon Ken Lay if he's given a prison sentence?

[lemonjello]

I Hear Nothing!

Was he lying? People like to blame Lay, but Lay was the Sergeant Shultz of Enron. He really didn't want to know anything as long as they made the numbers and maybe not even then. But he was not anywhere even close to being as culpable for the destruction of Enron as Fastow.

Fastow was the one person out of the entire management group you could say set the ball in motion to destroy billions of stockholder's money while in the process of filling the pockets of himself and his friends.

[Jim Smith]

I still remember Ken Lay's wife crying poor mouth on the Oprah Winfrey show......Geez, I would have liked to have bitch slapped the both of them.....She's crying they're broke even as they sell multimillion dollar houses and stash the cash....And, Texas has a homestead law so they're primary million dollar + residence in Houston was never in jeopardy.....And Oprah just looked so empathetic.....

[DSteckler]

His lips are moving, aren't they? That answers your question.

[billyjoe]

Jim,
I saw it too. My thoughts exactly.


billyjoe

[lemonjello]

1) You guys actually watch the Oprah show?

2) And while watching the Oprah show you then expect to see something that is not staged?

[Jim Smith]

My Wife watches Oprah daily....I saw Ken Lay's wife on the show and immediately became interested.....I have never been interested in that show prior and certainly not after Mrs. Lay's appearance.

[NY4Ever]

Was he lying? People like to blame Lay, but Lay was the Sergeant Shultz of Enron. He really didn't want to know anything as long as they made the numbers.>>

Very perceptive observation.

[Lyehopper]

1) You guys actually watch the Oprah show?

2) And while watching the Oprah show you then expect to see something that is not staged?

LOL.... You and me are on the same wave length dude.... How about playing the POTW with us next week?.... btw.... have you ever heard of the VTP?

[skiracer]

Was he lying? People like to blame Lay, but Lay was the Sergeant Shultz of Enron. He really didn't want to know anything as long as they made the numbers and maybe not even then. But he was not anywhere even close to being as culpable for the destruction of Enron as Fastow.

Fastow was the one person out of the entire management group you could say set the ball in motion to destroy billions of stockholder's money while in the process of filling the pockets of himself and his friends.

If Lye was trading stocks all day and not involved in the day to day running of his company do you think for one moment that he doesn't know what is going on or that he doesn't dictate policy. Anyone who is operating in that type of position or capacity knows exactly what is being done and is setting the policy from the very top on down. It would be quite naive to believe that Lay wasn't the one who set the policy. It might have been a lower guys idea but Lay had to be the one who said let's run with this. To big a deal an involving to much money and power to let it get away from his control.
I run two decent businesses an I know everything that is going on and set the policy and tone for the direction we are going in. I don't go to sleep at night until I've thought or gone over every detail of what is going on. You can take it to the bank that Lye, Lay, or anyone else who is operating in that capacity is doing the same thing. If they aren't then they're not going to last long. Lay's problem was that he got caught in the end. Lyers, cheaters, and thieves always do get caught in the end.

[lemonjello]

Sorry I don't know what those things are. You may have noticed that I only post in very short or MM pick threads due to my incredibly short attention span.

Now what was that again?

LOL.... You and me are on the same wave length dude.... How about playing the POTW with us next week?.... btw.... have you ever heard of the VTP?

[lemonjello]

Do you run one of the hottest Fortune 50 companies with your picture and name plastered all over business and finance mags and talked about 24/7 on CNBC?

Are you on a first name basis with the POTUS and VPOTUS, Kenny boy?

Is the stock in your company blasting through the roof because you thought up some new, incredibly sophisticated and cutting edge financial instruments, but no one can really figure out how you make money?

Are you in talks with India to overhaul their energy supply infrastructure?

Do you have so many sub companies, partnerships, etc. that your accountants can't even keep up with them all.

Are some of your subs run by totally independent managers that rake in the earnings year after year without you doing a thing?

Does your CPA firm and law firm sign off on everything and all the complicated transactions that the analysts would never understand anyway and besides you disclose it in the footnotes, kind of?

- Just some of my favorite things about Enron.

If Lye was trading stocks all day and not involved in the day to day running of his company do you think for one moment that he doesn't know what is going on or that he doesn't dictate policy. Anyone who is operating in that type of position or capacity knows exactly what is being done and is setting the policy from the very top on down. It would be quite naive to believe that Lay wasn't the one who set the policy. It might have been a lower guys idea but Lay had to be the one who said let's run with this. To big a deal an involving to much money and power to let it get away from his control.
I run two decent businesses an I know everything that is going on and set the policy and tone for the direction we are going in. I don't go to sleep at night until I've thought or gone over every detail of what is going on. You can take it to the bank that Lye, Lay, or anyone else who is operating in that capacity is doing the same thing. If they aren't then they're not going to last long. Lay's problem was that he got caught in the end. Lyers, cheaters, and thieves always do get caught in the end.

[Lyehopper]

Good point Ski....

If Lye was trading stocks all day and not involved in the day to day running of his company do you think for one moment that he doesn't know what is going on or that he doesn't dictate policy. Anyone who is operating in that type of position or capacity knows exactly what is being done and is setting the policy from the very top on down. It would be quite naive to believe that Lay wasn't the one who set the policy. It might have been a lower guys idea but Lay had to be the one who said let's run with this. To big a deal an involving to much money and power to let it get away from his control.
I run two decent businesses an I know everything that is going on and set the policy and tone for the direction we are going in. I don't go to sleep at night until I've thought or gone over every detail of what is going on. You can take it to the bank that Lye, Lay, or anyone else who is operating in that capacity is doing the same thing. If they aren't then they're not going to last long. Lay's problem was that he got caught in the end. Lyers, cheaters, and thieves always do get caught in the end.

Beleive me.... I know everything that's going on at my company. I communicate with my key people constantly and they answer to me directly. I drive the growth with my vision for the company and then have my hand selected people carry it through.

Of course Lay knew what was going on. How do you keep the particulars of transactions that size from the main man?

The great thing about my company is.... The only shareholder(s) I need to impress...... is ME!!!!! jejeje