10/23/2006

Skilling faces his fate today, likely to be made example



The Guidelines Now Tougher, Skilling to Face Sentence Today - New York Times

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Jeffrey Skilling will face his fate today for the role he played in the fraudulent collapse of Enron, the former Houston energy giant. I see no reason why the judge will feel any sympathy for Skilling, and I find it hard to imagine he will see the light of another free day once he finds his way to Club-Fed. In many ways I find it difficult not to feel bad for Mr. Skilling, who is obviously a brilliant man, and who was sold up the river by Andy Fastow, the mastermind and most direct beneficiary of the entire accounting scheme that has brought us to this point. Having seen the documentary The Smartest Men in the Room, I am not entirely persuaded that Jeffrey Skilling did anything that merits more than a year or two in prison. Three decades to me is absurd, considering Fastow is looking at likely less than ten.
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