Wednesday, December 28, 2005

When You Lie Down With Dogs

You can expect to get up with fleas. The wheels are starting to come off the gravy train. When you are poor jail is bad but you get 3 squares, clothes and a roof over your bed, not much bargaining room. When you are rich is when the carrot and stick (good lawyers!) part of the law kicks in. Two and a half years in a minimum security prison as opposed to ten at a medium is actually going to matter and is worth rolling over on your friends and former coworkers.
Enron Executive Agrees to Plea Deal
All three men had been scheduled to face trial Jan. 17, and the trio long had presented a united front. But eleventh hour negotiations with the Justice Department's Enron Task Force -- and the prospect of spending decades behind bars if he gambled at trial and lost -- ultimately proved persuasive for Causey, who had rejected previous government offers, the sources said. They spoke only on condition of anonymity because of the impending trial. The deal comes at a delicate time for Lay and Skilling, who are charged with leading a conspiracy to defraud investors by hiding debt and inflating profits at the Houston energy trading firm before its December 2001 collapse. They are the last and among the most eminent corporate executives to face trial in an era of scandal dating to the 1990s. Defense lawyers for Lay and Skilling are almost certain to seek a delay in the trial because of Causey's plea deal, the 16th by a former Enron executive. The company cut thousands of jobs after its December 2001 bankruptcy, which also cost shareholders more than $85 billion in losses.

Um, no honor among thieves also springs to mind. The little people are the losers, pension holders are once again looking for work and retirement is out of the question. No matter how much time these guys serve it will never make up for the many lives they destroyed. Or as Jimi put it "white collar conservative flashin' down the street" ala Milken.

Try being black and robbing a 7/11 of $20 with a plastic pop gun and see how much time you get.

No comments:

Post a Comment