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Wednesday, March 22, 2006

Why isn't Kenneth Lay in jail?

Enron Ex-Treasurer Says Lay Endorsed Accounting

By ALEXEI BARRIONUEVO and VIKAS BAJAJ
The New York Times
March 22, 2006


HOUSTON, March 22 — A former Enron treasurer testified today that Kenneth L. Lay presided over meetings in which top executives discussed the energy company's precarious finances and endorsed the continued use of complex accounting arrangements because they made it possible for Enron to meet Wall Street's earnings expectations.

Ben F. Glisan Jr., the former treasurer, provided some of the strongest testimony against Mr. Lay heard by the jury so far, as the prosecution entered the home stretch of its case against Mr. Lay, Enron's former chairman, and Jeffrey K. Skilling, the company's former chief executive. The government expects to finish its case by the end of the month. (full story)

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