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Ken Lay's "timely death"

Reported by Chrish - July 6, 2006 -

Julie Banderas, subbing for John Gibson on the Big Story tonight 7/6/06, had FOX senior business correspondent Terry Keenan on to discuss the financial implications of Ken Lay's "sudden death." It appears that not only will the government not be able to collect the roughly $43,000,000 in costs assessed, but employees and investors who were going to file civil suits will not be able to do so. As Keenan called it, a very "timely death" indeed.

According to Keenan, in the Fifth Circuit court, Houston, where Lay was tried and found guilty, there was a ruling that said if you are found guilty but "die before you can proceed with any sort of appellate relief, the case is extinguished. It would be as if Ken Lay had never been convicted, or even indicted, for that matter." Banderas overtalks that last to say "So he died an innocent man, that's what you're saying." Keenan says it looks that way, but the Enron task force that put together the case over many years did an excellent job by all accounts and obviously that verdict bore that out. It looks like that ruling will hold, but there's one interesting wrinkle: Ken Lay never filed an appeal. His co-defendant Jeff Skilling filed one almost immediately. So, was Lay going to seek appellate relief? Right now it's all up in the air and the federal government and investors are in the dark as well.

Comment: Either Ken Lay is still screwing people post-mortem, or this is a grand fakery and he's living the high life in an undisclosed location with a new and no doubt improved face. Like a lot of things with this super-duper-secret administration, we'll probably never know.

Banderas' gratuitous comment that he died an innocent man is revolting. Only the most extreme administration loyalist would celebrate "getting away with it" at the expense of American taxpayers and bankrupted employees.