It was a long time coming, but today's Enron verdict -- Ken Lay guilty on all six counts, Jeff Skilling guilty on 19 of the 28 counts he faced -- is a victory for all shareholders. Now it looks like these bozos are going to jail for a long, long time and they deserve it.

The thing is, I really thought they  might get off. Lay in particular seemed to be doing a good job acting like he wasn't party to the financial fraud. But now they are convicted felons and we see real proof that top executives can't get off while their lieutenants (many of whom have already pled guilty and served time) take all the heat.

The U.S. legal system doesn't always work and it takes a long time for the wheels of justice to turn. But in this case, at long last, the system worked.

The damage to the financial markets that was done back in late 2001 when Enron imploded still hasn't healed. There are other corporate scandals still simmering and more, no doubt, will surface.

But at least for today, investors can digest news of justice being done, breathe a sign of relief, and return to the markets with renewed confidence.

Enron: Guilty verdict is a victory for investors originally appeared on BloggingStocks on Thu, 25 May 2006 12:43:00 EST. Please see our terms for use of feeds.