Bush buddy found guilty
As my colleague Rachel notes, two of Enron's key players got their due today: "Lay found guilty on all counts, Skilling on 19 of the 28 counts against him."
The two are slated to be sentenced on September 11. Blogger/econ prof Brad DeLong writes: "I could never figure out why they took this case to trial."
Chris Roush, a business/media prof at UNC-Chapel Hill, writes of covering white collar crimes that:
"the strategy is to write two stories Ã¢â‚¬â€ one saying not guilty and one saying guilty. After the verdict comes in, you and your media outlet quickly push the correct story out onto your Web site."What's interesting about all the stories linked to by Roush, and in all the stories I've read so far, is that none connect Enron to the Bush administration.
Howie Klein is kind enough to supplement the coverage. Noting that Bush will probably pardon the two on his last day in office, Klein writes: "Remember, Lay and Enron gave Bush over $500,000 over the last years."
According to Wikipedia, Lay "is known to be a personal friend of current US president George W. Bush," was a candidate for Secretary of State after the 2000 election and was on the committee to elect the president's father in 1992.
For those interested in covering the coverage, Roush provides a handy compendium of the major outlets' stories.
- Bloomberg is "comprehensive"
- AP's is anemic
- Reuters includes Skilling and Lay reactions
- The NY Times gets in some nice digs; aka "contextualizing"
- CNNMoney.com provides a sports-section-esque stats box
- The Houston Chron includes a quote from Enron CFO Fastow who'll be banging out some license plates of his own.
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