Dear John Hall

carey carey@tstonramp.com
Wed, 23 Jan 2002 16:44:00 -0800


> People sometimes assume conspiracy when incompetence is a better
> explanation.

Fine. I'll honor that logic. Now, explain through incompetence, how the
bigwig shareholders managed to sell off their stocks merely through their
stupidity, and not through some far more likely, knowledge and intent of the
behavior.

Bonus:  Explain incompetence as the reason behind Lay's later decision to
not allow the average employees to sell off their stock, that was soon to be
worthless.  I'm sorry, that doesn't strike me as incompetence.  THat strikes
me as planned, calculated attacks, that just went wrong.  I'm tired of
hearing the incompetence argument for corporations. Its as old and tired as
the insanity argument is for criminal actions.




>
> However, shredding documents is obstruction of justice (at least) and
leaves
> a dark suspicion of criminal intent.
>
>
> -----Original Message-----
> From: fork-admin@xent.com [mailto:fork-admin@xent.com]On Behalf Of Russell
> Turpin
> Sent: Tuesday, January 22, 2002 1:34 PM
> To: fork@xent.com
> Subject: RE: Dear John Hall
>
> >The high level executives at Enron will be fighting lawsuits and criminal
> >probes, if not looking at actual jail time, for the rest of their lives.
> >That, too, might have some effect.
>
> Well .. if some of them end up broke and in jail, then yes,
> others in their position will want to avoid that end. But
> if they are merely required to hire lawyers to defend against
> lawsuits, and to give testimony before a grand jury, while
> managing to keep their freedom and wealth, then they win.
> If your net worth is $50M, then spending $2M on lawyers and
> $2.5M on settlements and fines and $500K on spin does not
> seriously impact your balance sheet. Indeed, even if it
> costs you half your assets, it may well have been worth the
> ride. At a certain and controlled level, legal troubles are
> just another form of tax. And if handled right, it turns
> into publicity that keeps your name in the public eye and
> cements your reputation as a serious player.
>
> I hope there are some pitbull prosecutors pouring over the
> Enron mess. But they have their work cut out for them, even
> if there is plenty of evidence of wrongdoing.
>
>
>
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