When Enron's chief Ken Lay dropped dead of a heart attack many people had the initial reaction of feeling cheated. Here was the head of a company that had destroyed employee's retirement accounts, lost shareholders their money, and lied about everything they were doing throughout the whole process, and he seemed to have escaped proper judgement. Many were frustrated to not see him put behind bars for a long, long time.
Now some of the same people will be able to get what they were hoping for. Jeff Skilling, the former chief of Enron who was known for spinning the image of Enron's greatness, will spend 24 years behind bars.
Does that seem like enough? $60 billion worth of company vanished, thousands of employees with almost nothing to show for their life's work versus 24 years?
The sentences used to actually be less. Back in the Savings and Loans days sentences of 1 to 4 years were the norm, according to this article that looks at sentences of criminal CEO's then and now. But in the 2000s white collar crime comes with greater sentencing lengths. Timothy Rigas of Adelphia: 20 years, WordCom's Bernard Ebbers: 25 years, and Tyco's Mark Swartz: 8-25 years. At the very least people like Skilling no longer face a mere slap on the wrist.
That being said, CNN's related poll shows that people still think that sentencing for people like Tyco's chief are still not long enough.
Do you think Skilling's punishment is justice served, or that it was too lenient? Vote in our poll or jump into the discussion in the comments.
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Reader Comments (Page 2 of 2)
10-23-2006 @ 6:43PM
MICHAEL MONTGOMERY said...
I FEEL THAT MRS. LAY SHOULD DO MR. LAY'S SENTENCE. THEY ARE 1 AREN'T THEY? LET HER GO THROUGH THE APPEALS PROCESS FROM BEHIND BARS! IF THEY STEAL FROM THE POOR THEN GOD IS WATCHING. EVEN IF OUR LAWS DON'T HELP. GOD WILL.I HOPE THAT EVERYONE WHO WAS ROBBED DOES NOT TAKE OFFENCE ABOUT MY "poor" REMARK BUT THAT IS WHAT THE RICH THIEF MR. AND MRS. LAY HAVE DONE TO YOU! MY FATHER SAID THEY MUST PAY THE UTTERMOST FARTHING! IF CONGRESS WON'T HEAR MY FATHER, THEN HE WILL SMITE THEM TOO! MONEY IS NOT THE ROOT OF ALL EVIL, THE LOVE OF IT IS! MR. SKILLING SOUNDS IRONICLY CLOSE TO SHILLING DOESN'T IT? I ALSO THINK THAT THEIR LAWYERS OUGHT NOT TO BE PAID BECAUSE THEY REPRESENT THESE PEOPLE WITHOUT GOOD MORALS. WHERE IS THE JURICE PRUDENCE IN ALLOWING YOUR CLIENT TO SAY HE IS INNOCENT WHEN YOU AS A LAWYER KNOW DAMNED WELL THEY ARE NOT. SOME PEOPLE CALL THAT CONSPIRACY TO DEFRAUD!!! A LAWYER ONCE TOLD ME "that the law is all grey" I TOLD HIM THAT MY FATHER BURNS THOSE ON THE FENCE TOO!!! MR. IS TOO DECENT TO USE ON SUCH A CHARACTER BUT ANYWAY --SKILLING SHOULD SPEND THE REST OF HIS DAYS ON EARTH DOING HARD LABOR FOR THE POOR! IN PUBLIC! NOT IN HIDING. THEN GO HOME TO THE IRON BAR HOTEL EVERY DAY. HIS DAYS SHOULD BE FULL OF SATISFYING THE THEFT HE HAS DONE. NOT BY FURTHERING OUR COST BY GETTING FREE MEALS AND FREE ACCOMODATIONS AT THE IRON BAR HOTEL. GRANTED THEY ARE NOT THE CONDITIONS HE HAS MADE HIMSELF ACCUSTOMED TO BU WHY SHOULD WE PAY FOR HIM TO EXIST?
10-23-2006 @ 6:51PM
steven said...
hang the son of a bitch
10-23-2006 @ 6:57PM
Tom said...
Every penny in fines and restitution should be paid to all the employees who lost their money as a result of Lay and his associates wrong doings.
10-23-2006 @ 7:10PM
Evelyn said...
It's not enough, but it's pretty good. He divorced his first wife and married "Va-voom," defrauded thousands, treated those under him with utter disrespect, lied lied lied, and even now refuses to admit what he's done. This person ought not to be allowed to damage any more people.
10-23-2006 @ 7:15PM
Leslie Dubin said...
Its just the wrong sentence! This guy is capable of making money. Give him a job somewhere, anywhere, where he can make money. (and under severe scrutiny of course) He doesn't get to keep a penny of it. All of it has to be returned as restitution to the shareholders and ex-employees. Also, his assets should be liquidated and at least a part of the debt needs to be repaid.
10-23-2006 @ 8:04PM
Darrell said...
Without sounding like a hateful person , no, I thought the sentence was way to light, this guys will be free in about 5 years or even less, for most people they don't even realize this, so what he got sounds tough,,,lol. But if a really nice person would blow this guys brains out, I'm sure they would get the death penalty, and CNN would tell us that this was a mad man,,,yes mad and tired of jerks ripping us off, but that would never make the news.
10-23-2006 @ 9:03PM
Janice said...
The sentance was too light, God will punish him in due time like he threw the money changers out of the temple. Shame on these people for their greed and self importance--they do eventually destroy themselves.
10-23-2006 @ 9:33PM
Bobby said...
To harsh of a sentence compared to other crimes. Should have received 10 years 5 to serve and 5 on probation. And forfit 90% of his assests.
10-23-2006 @ 9:56PM
Blanche Russell said...
So he gets to spend his time in some white collar prison, playing golf,and tennis,while his family continue to live the good life. How does he think all the people he stole from are going to be spending their golden years? What he did should have gotten the maximum sentance.No one will ever be able to put back the lives of all the people he destroyed, but the system only works for the wealthy, we all know that!
10-23-2006 @ 10:29PM
Bobbi said...
I can't think of a sentence that would adequatly fit Mr. Skilling's crime. What he stole will not easily be restored. Thousands of employees were robbed of their pensions, entire lifetimes worth of monies evaporated overnight by a man who, as CEO of a Fortune 500 company ALREADY
10-23-2006 @ 10:49PM
Louise Jones said...
I think 24 years and 4 months is way too much, and that Judge Lake overstepped. He was clearly influenced by the anger of former ENRON employees and investors who lost so much. But, the question is: Did Skilling knowingly steal or commit crimes at ENRON? I believe that he did not. He may have made mistakes in judgment and trusting in certain executives who betrayed his trust. But, Mr. Skilling himself did nothing willfully wrong or dishonest. I think that they are making a scapegoat of him, to send a strong message to corporate America. And this is fine when we are talking about corporate crooks. But why make an example of an innocent man? LOUISE
10-24-2006 @ 3:33PM
Juda Daniels said...
I would have liked to see "without parole" included. How many deaths can be attributed to the Enron scandal due to stress heart failure?
I am questioning? Is he already on President Bush's Pardon list?