LAY CONVICTED, BUSH WALKS (AND AHNOLD GETS LAY'D)

Truthout.com
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.

Furthermore, to protect our President's boardroom buddies from any further discomforts, the Bush Justice Department, just days ago, indicted Milberg, Weiss, the law firm that nailed Enron's finance industry partners-in-crime. The timing of the bust of this, the top corporation-battling law firm, smacks of political prosecution -- and a signal to Big Business that it's business as usual.

Lay and Skilling have to pay up their ill-gotten gains to Enron's stockholders, but what about the $9-plus billion owe electricity consumers? The Federal Energy Regulatory Commission, Bush's electricity cops, have slapped Enron and its gang of power pirates on the wrist. Could that have something to do with the fact that Ken Lay, in secret chats with Dick Cheney, selected the Commission's chairmen?

Team Bush had to throw the public a bone -- so they threw us Lay and Skilling -- for the crime, note, not of ripping off the public, but ripping off stockholders, the owner class.

This limited conviction, and the announcement of only one more indictment -- of the crime-busters at Milberg-Weiss -- is Team Bush's "all clear!" signal for the sharks to jump back into the power pool.

That leaves one question: if Bush's Justice Department let Ken and company keep the California loot, what about that state's own g...[ Click here for full article ]

THE AL CAPONE OF ELECTRICITY
KEN LAY WILL GET AWAY WITH HIS REAL CRIMES

Seattle Post-Intelligencer
Wednesday May 24, 2006
By GREG PALAST

Al Capone cut throats, machine-gunned people to build his gang and went to jail -- for not filing his taxes properly. Likewise, Ken Lay, buccaneer of the power industry, will go down -- if the jury doesn't buy his alibi -- for not filing his SEC forms properly.

And just as Capone went up the river leaving us a permanent legacy of organized crime, so Lay, whether or not he's sent to the slammer, has left us, with the connivance of a few well-placed politicos, an electricity system that is little mo... [ Click here for full article ]]


GIVE IT BACK, GEORGE: THE LAY LOOT THAT BOUGHT THE WHITE HOUSE
BUSH AND REPUBLICANS SHOULD GIVE UP ILL-GOTTEN GAINS
BY GREG PALAST
Working Assets

Monday Jul 12, 2004 When the feds swoop down and cuff racketeers, they also load the vans with all the perp's ill-gotten gains: stacks of cash, BMWs, whatever. Their associates have to cough up the goodies too: lady friends must give up their diamond rocks.
Under the racketeering law, RICO, even before a verdict, anything bought with the proceeds of the crime goes into the public treasury.

But there seems to be special treatment afforded those who loaded up on the 'bennies' of Ken Lay's crimes. If the G-men don't know where the tainted loot is cached, try this address: 1600 Pennsylvania Avenue. Ask for George or Dick.

Ken ... [ Click here for full article]