LAY CONVICTED, BUSH WALKS

Wednesday May 24, 2006
by Greg Palast

Don't kid yourself. If you think the conviction of Ken Lay means that George Bush is serious about going after corporate bad guys, think again.

First, Lay got away with murder -- or at least grand larceny. Like Al Capone convicted of failing to file his taxes, Ken Lay, though found guilty of stock fraud, is totally off the hook for his BIG crime: taking down California and Texas consumers for billions through fraud on the power markets.

Lay, co-convict Jeff Skilling and Enron did not act alone. They connived with half a dozen other power companies and a dozen investment banks to manipulate both the stock market and the electricity market. And though their co-conspirators have now paid $3 billion to settle civil claims, the executives of these other corporations and banks get a walk on criminal charges.