Oh how the mighty have fallen..

While surfing through the many channels of cable this afternoon, on a “something to watch” quest, I stopped on Fox News to watch a brief interview with Former Enron Corp. chiefs Ken Lay and Jeffrey Skilling, just walking out from their conviction for lying to investors. Ken Lay, who is the son of a preacher, was standing at the microphone making a statement regarding his conviction and quoting biblical passages of encouragement. Just at that moment, the Fox correspondent, whose name I cannot recall right now, said, “Though shall not steal either”.

I absolutely lost it when that comment was made, I wished so badly that Lay could have heard that, I really did.

It totally boggles my mind to no end how these two, and their accounting staff thought they could get away with the loss of billions of dollars of investors funds. I am sure that everyone recalls what transpired with Enron, once one of the top ten largest companies in America, then falling to the bottom and filing bankruptcy. Then the bottom literally fell out when it was discovered they were using off-the-books deals to hide billions of dollars debt and inflated prices.

Oh, how the mighty have fallen, I thought while watching Lay stand tearfully at the microphone quoting the bible. How in the world did they ever think they could get away with all that they did is beyond me, but for a period of time they did, that is what is sad.

Their financial team, Arthur Anderson was convicted for their part of the money fraud, obstruction of justice, I believe. The Supreme Court later overturned that conviction, but by then they were no longer a respected firm for any financial dealing and they were completely out of business.

I could not help thinking, while watching Lay that there was a time when he was the golden child in Washington for his financial support, and had become so close to politicians that President Bush referred to him as, “Kenny Boy”. Of course, that is all over now and he will simply be referred to by a number, we can safely say he will never be called by Bush again.