The Effects of Enron Fraud

[exenrontexas]

And those who DID ask WHY were quickly eliminated with the RANK AND YANK HR system that Enron had. It was ONLY when a high level accountant, Sherron Watkins, DIRECTLY asked Ken Lay about accounting irregularities then the plausible deniability which so many corporate criminals and so many crooked politicians rely on as a defense. Ken Lay KNEW what was going on because he ORDERED them to do it to continue his multimillion dollar bonuses and his lush life style. Enron was better WITHOUT Lay.

[Candy0Kenny]

Love the Tom Waits song

[DuncanGermPro]

Every Rise has its Fall .

[JamieinMN]

ask why

[humanonetwo]

Of course, that in accordance with the principles of fair playing field These guys are criminals.

But the point is not to weep with those that have been deceived.

We should be pleased that the confidence in financial institutions will fall.

People will start to work in the real products.

It must have happened.

[zigzagzig40]

The Guy at 1 29 didn´t ask why because he was too busy snorting coke have you seen the disproportionate size of his right nostril

[klnine]

of course we see a USA led global recruitment plan, get rid of the old guys they ask "WHY?" Better get a load of green ficks that know nothing ! "I didnt ask why " haaha We all know whats happening, the USA companies that have been embezzling people and countries are being found out ! Hear it HAL hahah ?

[MegaSmallPeople]

These guys should be given medals of honor. They were the captains of there industry.

[blakegriplingph]

The Enron scandal was obviously an example of IRL trolling, which, in this case, happened in the corporate world. Unless if people clean up their act there will always be a sneaky Fegelein or two within a company.

[Celephaith]

Enron is the posterchild for why we need smart regulation on big business, and should stand as an example against the idea that the key to a free, healthy market is de-regulation. Let us not forget that poor regulation allowed Enron to cause the blackouts in California just to make money off of betting that energy costs would go up. Anyone who calls for de-regulation would either directly benefit from it or is one of the morons conned by those who would.

[98wongjf]

@Celephaith I would argue the opposite. Regulations are there when Enron did its thing, but if you watch the movie, a lot of those regulations were either not enforced, or ignored (Mark-to-market should have NEVER been acceptable by SEC but they choose to let it pass). The "De-regulation" you saw in the movie was carefully constructed by the gov't so it is not really de-reg When we call for de-reg, we want total govn't non-int so absolute no gov't involvement.

[98wongjf]

@Celephaith What de-reg is suppose to do is allow different players in the mkt. The de-reg in Enron cases basically de-reg specially designed for 1 comp. So when they say de-reg the opp was actully happening. a lot of reg to acts a barrier to ent, while de-reg for 1 comp to do watever it wants. I understand that de-reg is kinda scary, but true and total de-reg would actually bring more benefit than harm because ppl (consumers) will have the power.

[MsbacktoNYC]

@98wongjf

I agree to an extent. My only issue is monopolies and pollution. Monopolies, uncontrolled by the government, go spiraling out of control. Competition is not guaranteed. And it is in a company's best interest to create a monopoly so they no longer have to compete for customers. Heads of competing companies may join together to form a monopoly. Or, if a business is doing well, it may use its extra money as a cushion, drop its prices, and run its competition out of business.

[ColdChicago]

what kind of scholarship would be involved: "how to fleece the american govt. and its people of all they have- and learn to like it?"

there are those so shamelessly steeped in greed and chicanery

they would leave mr. cargill weeping at the grainery

leave a borgia amazed at their fides

leave ken lay muttering prayers to midas

[ColdChicago]

ken lay is dead

but his system lives on

skilling gone

but the system lives on

phil gramm made his money

the system lives on

delay made his money

the system lives on

in the house of the hanged man

no one speaks of the rope

[amazingyou1uber]

@ColdChicago Phil Gramm's wife was a director at Enron. And she is currently a scholar at the libertarian George Mason University.

[TheGerryjoy]

Ken Lay made a lot of friends among the Democrats by making polical contribution$ for favors.

[ElectricJunta]

Cockroaches in office

[aroundtheworlda]

Bonesmen

[exenrontexas]

The facts are that Lay and his HNG cronies were directly involved in major fraud in the mid-eighties. Everyone thinks or wants you to think that the crimes began just a few years ago and that is FALSE. Example: Lay was directly involved with the Enron oil trading fraud in Valhalla, NY in the mid-eighties which lost shareholder over a hundred million. Then there was the Belco holdings in Peru which cost $450 million. The crimes began in 1985 when Lay seized control thru criminal means.

[botchalism]

Most people also are oblivious that Enron perpetrated the rolling blackouts in California which costed the state over 30 BILLION DOLLARS! If a single business can bring the most populated state in the USA to its knees just imagine what multiple businesses can do to the country or even the world. Should the entire fate of mankind be entrusted to a couple CEOs with golden parachutes?

[exenrontexas]

@botchalism Ken Lay personally engineered the CA blackouts and scam over many years. He used the enormous wealth of ENRON to BUY CA Republican politicians to get them to DEREGULATE the CA energy markets which allowed that crime to happen. He also bought Portland General electric utility to get a hold on the West Coast energy grid. One of his allies in government was TX Sen. Phil Gramm whose wife, Wendy, was making a MILLION A YEAR as and ENRON director doing nothing. CRIMINALS ALL.

[botchalism]

Don't forget President Bush himself who refused to intervene despite the fact that energy is a federal issue and therefore MANDATES the federal government to intervene. And FERC (Federal Regulation and Oversight Committee) refused to get involved because Patt Wood, the chairman of FERC, was recommended to his post by no other then...Ken Lay!  That's like an Exxon CEO choosing his buddy to run the department of energy.

[exenrontexas]

@botchalism And the BUSH AG, Alberto Gonzales, in charge of the ENRON prosecutions, was HIMSELF a former ENRON lawyer. There were HUNDREDS of criminals at ENRON who were NEVER indicted. One of the, Rich Kinder, was BUSH's NUMBER ONE supporter in 2004.

[botchalism]

Yep, not to bring 911 into this but people think the government would never orchestrate a false flag attack. Well, if the government aids and abets a predatory corporation like Enron, is it really that incomprehensible that they'd kill a couple thousand people to further their Neo Con agenda? They wanted to invade Iraq before and they magically got their Pearl Harbor that Wolfowitz specifically identified as their necessary catalyst to go to Iraq.

[exenrontexas]

I do not know about 911 but I have always been suspicious given the fact that I served in the Navy TAD on the USS Turner Joy sometime after the Tonkin Gulf incident and NO ONE I talked to believed that they were attack by the North Vietnamese Navy in Aug. '64. Before his death, Robert McNamara, testified that the attack was bogus and the Navy itself has admitted as much. SO LBJ lied to America to officially get the war in Vietnam started.

[Cabronosidad]

@botchalism It was their Shock and Awe on the U.S. public.

[1955oldguy]

@exenrontexas He didn't have to buy the Republicans they are on a permanent retainer like the lawyers for the mob. GWBush as much as admitted he hated CA.

[cancanbiker]

At the same time look at the fraud of BCCI in the 80's, but nothing ever changes.

[exenrontexas]

@cancanbiker Or the Banco Nationale Lavarro who bilked the US taxpayer for BILLIONS in alleged USDA loans to IRAQ which ended up buying weapons. I worked for a Texas bank that, at the request of BUSH 41, loaned $60 million to Saddam to buy ALLEGEDLY Texas rice. The rice left the Port of Houston but went to Communist Red China in exchange for arms that went to Iraq. Saddam stiffed the US taxpayer on the USDA guaranteed loan. Late Bush 41 ordered the bank closed to cover up his crimes.

[cancanbiker]

haha well now they use tax dollars to pay off the Taliban so they dont attack the convoys with fuel and weapons all the way to toilet paper etc. Throw the heroin trade into the picture and you have the perfect war for wall street and big corporations.

[GhalebKobaissi]

@mattt1ooo aig are scum bags it happened to me they took out some money and my account overdrew in error it overdrew 3 x in a few day's it was an epic battle to get my 100 dollar's + overdraft's from b.o.a.

[1955oldguy]

@mattt1ooo This isn't spam it's a rant; Isn't this the place to rant. btw BOA has been like this for as long as I can remember so why do you bank there. btw2 keep some money in your account and this can't happen, almost can't.

[Samura1gamer]

"Made for Class Presentation " change that to "Ripped for Class Presentation"

[botchalism]

Which is perfectly legal for educational purposes.

[lorigee2]

Weird at 1:32 the man says he didn't ask anyone why, funny but that was the key word in their commercials. Does anyone remember them? If not you can locate them here. In fact during the commercial the word why is repeated.  The lights went out and no one heard a thing...why?

[ricfitter2]

LMAO, for annyone wo has seen the acctual Smartest guy's in the room, theres a clip from the simpsons taking the piss out of Enron XD its so funny!!

[prettybird1978]

Wow 20 billion, no wonder they "pulled" building 7.

[Jaymz5555]

@prettybird1978

How did he still get the insurance money after announcing on TV he destroyed it deliberately, it was obviously just scratched a little.

Apprently silverstein also got double the insurance value, because two planes hit.

kind of like if your house collapsed, and then it caught on fire, and you got two insurance claims on it, double the value.

[sitiveni11]

This clip is from the dvd "The Smartest Guy in the Room"" chapter 14 - "It was a good Life"

[DigitalAnonymous]

I hope Ken Lay is burning in hell for the crime he committed. Lay was also a liar pretending that he did not know what was going on in his company. Hopefully, Jeff Skilling will die in prison. I bet ole Lou Pai is still laughing at everyone and enoying his millions along with his stripper girlfriend...only in America!

[TheyFeedingULies]

I believe Lay died of a heart attack b4 he served any time.

And to believe GWB was flying on Ken Lay's private jet during his second run for re-election. Bush was accepting gifts from a man that lying, stealing and committing fraud. When the news broke Bush then claimed to have nothing to do with Ken Lay and even said he never flew on Lay's jet during his campaign. LIES!

[RosesAndThorns91]

Lay's getting the last laugh. If you think he's really dead think again.  Bush's bought huge ranchland in Paraguay. Good be Bernie Madoff will be going there too after his fake death. The government knows where every penny of the money went. No way they are going to let people like Lay and Madoff testify in a public courtroom.

[1955oldguy]

@DigitalAnonymous Would be nice if there was a hell.

[apauledsuxcock]

March on his wife and get the money back to the employees pension funds. Water Board that conniving frauds wife- she is not innocent at all!!!

[katrenaps]

gdfgdf

[beanminion]

this clip is from "the smartest guys in the room".

[monroepaco87]

what is the song during the end credits?? it sounds awesome

[cthulufunk]

Tom Waites - God's Away on Business

[yoodoodoo]

smartest guys in the room?

[MamaBeau75]

You can rent this anywhere. This documentary is good.

[langkf]

This is an excellent vedio. I wonder if I could download it so that I can share it with my students in my ethics class. Thanks again for providing such a high-quality vedio for the public.