Friday, May 26, 2006

I wasn't going

to harp on the fact that Lay and Skilling had been found guilty. It seemed it should have been sufficient to know that they couldn't hookwink everyone and someone was going to call them on their crap.

Then I saw this ...

Guilty Verdict For Former Enron Execs
on BlogHer. Not Ms Vest's summary but the third one down by "Right Thinking Girl". The idea that they *shouldn't* be found guilty if they "intentionally avoided knowing what was going on.". They were in freaking CHARGE, not only should they KNOW WHAT'S GOING ON, but they are ultimately RESPONSIBLE for all of it! However I (seem to) tend to get emotional about this sort of thing and my ideas of responsibility are heavily flavored by my military experience. And I don't particularily hide behind excuses when things go south, it leaves a bad taste in my mouth. If something doesn't go as planned, consider what happened, review your decisions and the facts they were based on and try your best not to let it happen again. And quick as it was, even the collapse of Enron wasn't a one-event, snap-of-the-fingers sort of thing, there was some small period of time when they could have done something about it. That is something other than to try to hide things with wonky accounting tricks.

It does see regrettable that, given the nature of Lay's family, that they're going to be suffering for his actions. However that should have weighed on his mind when he allowed those things to happen. And I find myself insensed about the controversy hereabouts.

Lay Alma Mater Rebuffs Endowment Request

It seems some seven years ago Mister Lay donated a million dollars to the University of Missouri for the funding of a chair in international economics to be named after him. Now they want to keep the money but not the name. Given that it was implicit in the donation, I see it in black and white terms. He's not a good example for our students or a fair indication of the ethics and morals of our faculty so the money should be given back and his picture taken down. That they're slow in deciding strikes me as bald face money grubbing. The University's position seems much more carefully worded however ...

A Statement from the University of Missouri regarding Kenneth L. Lay Chair in Economics

And I wonder if posting on this subject at all is a wise thing ...


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