It took Ken Lay fifteen years to fritter away the wealth and systems that were established primarily by Northern Natural Gas co which through providence saw a market opportunity of using the natural gas resources in Western Kansas as a fuel to replace coal in the upper midwest states of Iowa, Minnesota and Nebraska. Lay seized control in '85 and almost immediately began selling off assets, bringing in silent partners and later cooking the books (fraud). It is the FAILURE of capitalism.
The Enron bankruptcy does NOTHING AT ALL like that. It NEVER justifies the belief that markets are self regulating and the proof is that ENRON began to steal shareholder and employee value almost immediately when the Lay regime criminally seized control and immediately the Lay regime used the resources gained by their predecessors to attack the regulatory system that would have caught them. Truly the regulators FAILED to catch them because of the political power that wealth held for Ken Lay.
@Muzztein Losses penalize inefficient suppliers and/or those who attempt to provide goods that are costly relative to their valuation by consumers. If they are not curbed, losses will lead eventually to bankruptcy and the termination of the inefficient and unwise use of resources. Ability to bring unsuccessful experiments to a halt is one of the most important functions performed by market forces. Profit and loss incentives will prevent the waste of resources. Socialism has no such mechanism.
Jeffery Skilling is a great man who trust the wrong man a prodigy. But, Fastow lies to him because his(fastow) greed. As result, Mr. skilling has loss son and 4 years with family. THAT is the real Crime
It took Ken Lay fifteen years to fritter away the wealth and systems that were established primarily by Northern Natural Gas co which through providence saw a market opportunity of using the natural gas resources in Western Kansas as a fuel to replace coal in the upper midwest states of Iowa, Minnesota and Nebraska. Lay seized control in '85 and almost immediately began selling off assets, bringing in silent partners and later cooking the books (fraud). It is the FAILURE of capitalism.
exenrontexas 3 months ago
The Enron bankruptcy does NOTHING AT ALL like that. It NEVER justifies the belief that markets are self regulating and the proof is that ENRON began to steal shareholder and employee value almost immediately when the Lay regime criminally seized control and immediately the Lay regime used the resources gained by their predecessors to attack the regulatory system that would have caught them. Truly the regulators FAILED to catch them because of the political power that wealth held for Ken Lay.
exenrontexas 3 months ago
avalanch of bull shit
Muzztein 5 months ago
@Muzztein That's a convincing argument.
Cataphatism 4 months ago
@Cataphatism thank's .... oh and btw, capitalism will consume the entire planet.
Muzztein 4 months ago
@Muzztein Losses penalize inefficient suppliers and/or those who attempt to provide goods that are costly relative to their valuation by consumers. If they are not curbed, losses will lead eventually to bankruptcy and the termination of the inefficient and unwise use of resources. Ability to bring unsuccessful experiments to a halt is one of the most important functions performed by market forces. Profit and loss incentives will prevent the waste of resources. Socialism has no such mechanism.
Cataphatism 3 months ago
excellent
giggitygiggity890 6 months ago
What utter tripe. The libertarian kind.
Thoroughly disgusted.
maersklandro 8 months ago
Jeffery Skilling is a great man who trust the wrong man a prodigy. But, Fastow lies to him because his(fastow) greed. As result, Mr. skilling has loss son and 4 years with family. THAT is the real Crime
manprep1 1 year ago