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Thursday, July 6, 2006

Convicted Enron Founder Kenneth Lay Dead at 64

It's the flip side of the "American Dream." One day you are on top of the world, and the next you are the disgraced founder of a former corporate giant on your way to jail.

Before commenting on the death of Kenneth Lay, I decide to give myself the night to let what happened sink in. My first thought when reading of Lay's death was "some guys will do anything to avoid going to jail." And then I kept hearing the song "... it's getting hot in here ...."

By morning I had decided there certainly must be a God, and she's more forgiving than I am. Dying from a heart attack while on vacation in Aspen, surrounded by family and friends is certainly preferable to dying in a cold prison cell with "Bubba" staring down at you.

Lay, and former Enron CEO Jeffrey Skilling, was scheduled to be sentenced Oct. 23. Skilling faces a long prison term.

The Associated Press reports:
Prosecutors in Lay's trial declined comment Wednesday, both on his death and what may become of their effort to seek $43.5 million from Lay that they say he pocketed as part of the conspiracy. The government is seeking $139.3 million from Skilling.
Hopefully prosecutors will be able to recover the money. Their loss is unfortunate, but Lay's family should not profit from his criminal actions.

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