This page has been archived and commenting is disabled.
Enron's Skilling May Be Free As Soon As 2017 Or 11 Years Early
As we reported a month ago, when we reported that Enron CEO Jeff Skilling may be released from prison early, moments ago we just learned that, to nobody's real surprise, the mastermind of the biggest US bankruptcy in the early 21st century may be behind bars for just four more years, cutting his total sentence, which was scheduled to expire in 2028, by 11 years. From Bloomberg:
- ENRON'S SKILLING AND JUSTICE DEPARTMENT REACH SENTENCE DEAL
- ENRON'S SKILLING MAY BE RELEASED IN 4 YEARS, LAWYER SAYS
- ENRON'S SKILLING WAS SENTENCED TO MORE THAN 23 YEARS IN PRISON
- ENRON SENTENCE DEAL ALLOWS OVER $40 MLN RESTITUTION PAYOUT
- ENRON'S SKILLING HELPED MASTERMIND MASSIVE FRAUD AT ENERGY FIRM
Indeed he did: which is why it is surprising he served any prison time at all.
So in brief: justice for all, except for those who have $40 million set aside for "restitution payments."
»
- 6626 reads
- Printer-friendly version
- Send to friend
- advertisements -
"During his admissions interview for Harvard Business School, he stated that he was asked if he was smart, to which he supposedly replied, "I'm fucking smart"
"I'm smart! Not like everyone says!" - Fredo Corleone
If he could have kept that thing going another decade, he wouldn't have spent a single hour incarcerated.
Assuming he was a bundler of course.
Feels good to be gangsta.........
http://www.youtube.com/watch?v=ob0QTmYlVKA
We can start a "untimely death" pool on this guy. The odds against his survival go higher the further from prison he gets when he's released. How many pensioners are just waiting for the day when they can wrap their cold fingers around his pencil neck?
I am Chumbawamba.
guy named Jon could use a hand
All I know for certain is that Skilling did not get a fair trial in Houston, and that not a single juror understood more than 2% of the case.
Must be an odd experience when the stupid sheep you have been fleecing suddenly hold your freedom in their hands.
yet they got the sentencing right.......hmmmmm
when can kenny return from paraguay?
when simon black says so, he's got alpacas to shear
@ Hedge-Why would you say that? Skilling was one cocky arrogant bastard that needed a few big black dicks up his ass, just to let him know how romantic things can be. Personally, I'd love to shiv this POS.
In the meantime, dig up Ken Lay, shoot him, and bury him again.
And, oh yeah, who was that guy 'Kenny Boy' raised all that campaign cash for...?
Dig him up? What, did he lay on the beach for too long as the tide came in?
Colon Pal just happened to fly into CO the night Kenny Boy "died."
Darth Cheney?
@ xtop: I think he was the "Cyprus" to test out the "template" now followed by all bankers so they know how to do it and improve on the process so they don't go to jail at the end.
Didn't JPM just start getting investigated for manipulation of the energy markets?? I thught, Jeez, that sounds familiar! I wonder how the Enron boys are doing? And sure enough......
Never go against the family, Fredo.
"I'm fucking smart"....and that's why I'm richer than you
a storied and pervasive cultural meme in the Various States of Detroitification that's isn't just found in the financial sector. Go to any high school and substitute in other ideas; for "smart" such as, >better looking, more popular, stronger, faster, better, daddy makes more etc
trickle down glitchez, it's the drink, until.......it's not
"Can't recall" Skilling shudda worked for Goldman or the Morgue.
I can only imagine what he thinks of MF Global and "can't recall" Corzine.
When did HBS start Admissions Interviews ? You must be thinking of the wrong B School. that ain't HBS
How does one bundle to the Obomba campaign from jail?
FORWARD SOVIET!
"justice for all, except for those who have $40 million set aside for "restitution payments."
And all Banksters??
Just in time to wish he was still on the inside. (in jail) ;-) The guy deserves to live in a post apocalyptic world.
Sweet. Bernake has a replacement waiting.
He already has a luncheon with Corzine lined up....rumor has it.
Bunga goes to jail.
They don't call it the "Land of the Free, and Home of the Brave" for nothing. He's brave, and soon to be free.
Know whom to rob, what to grease, what lawyer & friends to have, and keep a stash hidden away. Is this a great country or what? /s
We've got the best judicial system money can buy.
JPM will have a new new god of fraud
He'll make a fortune on the book and talkshow tour. "...one born every minute".
That is comforting news for Mr Dimon and his protege, Ms Silver tits.
Skilling was about three years too early. If only they could have staved off Enron's implosion a few more years, he could have testified in front of a congressional committee with the word honorable in front of his name and he be consulted about future regulations.
Not only that, Enron would have likely gotten a bailout because if they were to go down...
they would've taken the entire fake energy trading market down with them.
He will join Corzine as a bungler, er bundler for corrupt candidates
"corrupt candidates"- is there any other kind?
Sadly yes. And they're far, far more destructive.
I call them "self-propelled tools." They not only believe in the facade, they wrap themselves up in it, providing all of the operating room the corrupt ones need to successfully lie, cheat and steal.
Oh boy someone believes there is going to be a 2017.
Your country needs you Mr. Skilling.
The Secretary will disavow any knowledge of your activities.
Society needs his "entrepreneurial" mind.
Justice Dept is helping us, guys. Wake up.
I totally hate the ads on this website. They make me not want to come here and just hear the highlights on twitter. Just sayin.
A) The ads are based on your browsing history
B) AdBlock
C) NoScript
D) Ghostery
I just love how ads are totally destroying the net. Browsers simply cannot handle fifty fucking scripts doing who knows what non-stop. My android tablet meanwhile, is practically unusable, as the entire interface becomes unresponsive.
I feel like I'm back on a 486 with 14.4k dialup access. No wait, it's worse, as there wasn't all this useless crap back then (well, unless you were on AOL/netzero/etc).
Bullshit! I keep getting ads for Asian and 'fitness' singles when I specifically been browsing for Ukraine and/or Mature singles...
If you stay here, just on ZH, you wont get any...
Just sayn...
Try it for a month..its free, its great, its ZeroHedge...
But you gotta stop Junior from roaming...
I am so totally amazed that JP Morgan went market manipulating back on Enron's old teat - the California electricity markets. If anywhere you would figure you would find some regulators it would be there having been burned so badly. OTOH, the fact that Enron got the best of them shows just how dysfunctional Cali can be/is.
As far as Skilling goes.....gag me with a fencepost. Corzine will never go to jail if things like this are allowed. I was feeling better in the morning. Time for a burbon two hours early.
"Ken Lay" the bastard !
He'd wish.
When I was a kid I thought thugs wore caps and masks and boots and carried a billy-club.
Now that I'm grown up I know they wear wool suits, wingtips, and carry a ledger or a gavel.
Mark to Market baby!
One can get room and board at a country club prison and still have more than $40 mil in the bank, but just try to get medicare to pay nursing home expenses if you've got more than a house and a car. And they will come after the proceeds of the house and car once you croak.
I think the $40 million was shared with the lawyers...... US attorneys sniff money then snort it like cocaine to get high
Well they can't keep him in jail for what has essentially been made legal by the Just Us Department.
I wonder what Wall Street/Regulatory position awaits his early release?
Probably something prestigious for a fraud well done!
Hmm, you lot ever get the feeling that the PTB are pushing the envelope? Seeing just how much we will take before we take the law into our own hands?
Mr Skilling, you will probably never read this but I'm posting for posteritys sake, you will be found, you will pay a much more reasonable price for the lives you so willfully destroyed, and all for that thing again, 'Monetary Gain', ask yourself in your lavishliy kitted out cell 'Was It Worth It?'
You will find out in short order, some 11 years infact, it might not have been.
You see, some people hold a grudge, a debt which need to be repaid regardless of who you think you are, or what you think you are worth. You see some folk dont forgive, and some really focused people do not forget.
Enjoy your ill gotten gains. For what its worth.
I doubt it...theres no retribution to the ones that didnt go to jail, those ripped off by corzine, etc...hes not only free, hes tanning somewhere.
Well in that case we can always wish for basal or squamous cell carcinoma to give him an early demise.
Or we can always hope for a tragic hunting accident. It would be a shame, he would have so much to give.
Since his cell will be empty...can we put Bernanke there??
The big winner during the whole ENRON collapse was LOU PAI. SKILLING CALLED HIM HIS "ICBM"
http://en.wikipedia.org/wiki/Lou_Pai
Loopy?
Compared to what's going on today, his was a misdemeanor.
When the theives rule the world, there is no law against theft.
Well, except when one of us does it.
Don't forget that Wendy Gramm (that's right, the Senator's wife..!!) was head of the Audit Committee...and didn't do a nano-second...!!
Actually, the whole Board got off through the "Director's" insurance policy..!!
Kenny Lay is laid out...horizontal...But, somebody had to do the 'strectch'..!!
yeah, thanks Phil and Wendy for your wonderful "service" to us all.
kudos to our attorney general. Job well done. Justice well served. Very proud to be an american the land of freedom. justice, and what-not.
Inaction Jackson actually got up off his duff and did something.
I read somewhere that Krugman was an adviser to Enron.
Perhaps he should keep the cot warm for the next asshole to get time.
If there ever is one.
Corzine/Skilling 2020 and Madoff for Treasury Secretary. These are the only people capable of getting a few more years out of this Ponzi.
What about Angelo Mozilo to provide crucial "oversight" of Phoney and Fraudie?
Four years is plenty of time to drown in your own vomit.
40 million buys a lot of protection. Wonder how long it'll last?
At the current rate of printing, it will buy alot less protection in 11 years than today...maybe he can buy Protection Futures?
WTF...seriously? So let me make sure I understand how it works. No one gets prosecuted for the biggest financial fraud in 80 years. Not one mortgage employee. No one from AIG. Not a single bank employee. Then, we put into debt every generation henceforth for maybe 40-50 years in order to pay big bonuses to all these wankers. And now, the gov't realizes that maybe they should reduce the sentences of previous financial fraudsters because, hey, they don't want to seem hypocritical. Next up, Bernie Madoff pardoned. And here I thought there was nothing left that could happen to increase my cynicism in this country. Awesome^2.
..seems like you got it
Bernie won't be getting out. His crime was stealing from the rich. That requires prosecution to the fullest extent of the law and no early release whatsoever.
The only thing that matters is that the rich get what they want.
Well good for him. We get $40 mil and stop having to pay $200K a year to keep him locked up at a club fed working on his serve and volley.
And the people he ripped off can strip him naked and cover him with honey and ants in the middle of nowhere and leave him.
"cover him with honey and ants in the middle of nowhere and leave him"
Hmm, what animal likes Man, honey AND ants? Ardvarrk? no. Chicken? no. WOMBAT! no. Fuckin Grizzly Bear bitches!
So why was Skilling in jail ? He used to be a Banker, he ran Enron like a Bank. How is it he went to jail ? He was 3 years ahead of Dimon at Harvard B School, does that mean Dimon has reserved a bunk ?
I mean why does Skilling get jail when Holder doesn't like sending Bankers there ?
That was back in the old days when there was still a facade of the "Rule of Law." As we are now through the looking glass, they could care less about maintaining that facade as the price is out of their range.
Besides, martial law cometh to save the day (well, at least the elite).
Watch him end up running a "green" energy company with government assitance.
Skillyndra.
I guess he is going to be needed in Jeb Bush's Cabinet. Dubyas administration was eat up with exEnron people.... Google it you down arrow clowns.
They should have hung the lousy cunt.
I would do more time than that if I stole a pack of gum from 7-11.
Get the $ now then cut him loose once the scenery has been removed. He should step out the camp gates into a real hell
Enron was scapegoated. Anyone who had read their 10-k's and S-8's would never have touched that stock. Lemmings who bought based on someone's momo recommendation have only themselves to blame.
The only way he should leave prison early is on a slab.
Yeah isnt that great. I am sure some of his victims are real happy and will pay him a visit and he can spend the rest of his life looking over his smart shoulder...
where is the wcom guy... can he be far behind... bernie will ahve to wait a little longer ...