Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

News

He Steals Money

LAist relies on your reader support.
Your tax-deductible gift today powers our reporters and keeps us independent. We rely on you, our reader, not paywalls to stay funded because we believe important news and information should be freely accessible to all.
5b2c03724488b3000926e314-original.jpg

Angelenos can crack a wry smile today at the news that Enron CEO Ken Lay has been indicted in Houston. The details of the indictment are sealed but an announcement may come tomorrow. Tapes released in June document the nature of Enron's crimes against California. In the recording, one trader gloats about another:

"He just fucks California," says one Enron employee. "He steals money from California to the tune of about a million."

"Will you rephrase that?" asks a second employee.

"OK, he, um, he arbitrages the California market to the tune of a million bucks or two a day," replies the first.

Lay was the #1 contributor to President Bush's 2000 Presidential campaign. USA Today has reported that the White House has lied about the extent of the connections between the administration and the corporation in the past.

Support for LAist comes from

Of course, San Franciscans should enjoy this a little more - Governor Davis subjected them to rolling blackouts while our lights stayed on. Heh heh.