Friday Night’s Allright For Fighting

Remember Jeff Skilling?  Does your wayback machine reach that far back, or has it been polluted with inane crap from the telescreens?

In case there have been too many episodes of “America’s funniest Home Videos” crammed into your cranium, he’s the ENRON fall-guy who’s been imprisoned for shady financial transactions that cost American investors  – including a large number of teachers – millions in investments when the company (which had ties to Dick Cheney) went bankrupt.

Co-conspirator Ken Lay “died of a heart attack” before he could be sentenced.  Starting to ring a bell?  Anyway, Skilling is about to be released from jail, as reported by CBS:

Former Enron CEO Jeffrey Skilling succeeded in getting his prison sentence reduced by 10 years as part of a court-ordered reduction.

U.S. District Judge Sim Lake of the Southern District of Texas announced at a hearing in Houston today that Skilling will serve 14 years. His original conviction called for him to serve 24 years in connection with the collapse of the once high-flying energy trading firm. Under the agreement with federal prosecutors, Skilling could be released as early as 2017.

In seeking to reduce the sentence, the government had emphasized that $40 million in restitution, currently held up as Skilling pursued appeals, would be released to victims.

 

“The sentence handed down today ends years of litigation, imposes significant punishment upon the defendant and precludes him from ever challenging his conviction or sentence,” Acting Assistant Attorney General Mythili Raman said in a statement after the re-sentencing hearing. “With today’s court action, victims of Skilling’s crimes will finally receive more than $40 million that he owes them.”

Sherron Watkins, who as a vice president at Enron first called attention to the energy trading company’s accounting problems, sounded a mixed note about the former CEO. “He’s paid a steep price,” she said, noting that Skilling’s father and son both died during his incarceration and that he was unable to attend their funerals.

Funny, many regular non-billionaire folk spend decades in jail for being caught with marijuana.  This guy, who helped ruin countess lives with his criminal business practices, could be out by 2017.

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2 Responses to Friday Night’s Allright For Fighting

  1. Yeah, I remember Jeff. His brother Tom is the top weatherman on WGN in Chicago. And Tom has one serious case of Alzheimer’s. The man has turned into an absolute babbling idiot. Sad part is that he used to be pretty good.

  2. Despite all of the inane crap polluting my brain, I clearly
    remember this bastard and the Enron rip-off. Sharing a limo
    to the Philadelphia airport with three Business College suits,
    after completing my installation at their school, one asked me, “You are from California. What do you make of the ENERGY CRISIS?” They were all grinning as if sharing some inside joke on me. I told them in no uncertain terms that it was complete BULLSHIT, there WAS no energy shortage and the entire event was a Capitalist rip-off. The remainder of the drive was wonderfully silent. Score one for the “Grannies”
    they were stealing from.

    If you have ever flown into LAX at night, seemingly half of your trip is spent passing over a vast sea of SoCal lights. Shortage my ass!

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