Kenneth Lay - Quotes

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Am I a fool? I don't think I'm a fool. But I think I sure was fooled. ---->>>

There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues. ---->>>

We need someone who is a strong representative of our value system. ---->>>

I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well. ---->>>

I take full responsibility for what happened at Enron. But saying that, I know in my mind that I did nothing criminal. ---->>>

Our liquidity is fine. As a matter of fact, it's better than fine. It's strong. ---->>>

There are absolutely no problems that had anything to do with Jeff's departure. ---->>>

They can't do without electricity. They can do with less electricity. ---->>>

The last thing I would have ever expected to happen to me in my life would be that, in fact, I would be accused of doing something wrong and maybe even something criminal. ---->>>

Any slots at the senior level, including CEO or other slots, will be filled internally. ---->>>

But I can't take responsibility for criminal conduct of somebody inside the company. ---->>>

But the most important thing is, Enron did not cause the California crisis. ---->>>

Investors don't like uncertainty. ---->>>

Jeff knew full well what he was walking away from. Again, he needed to deal with this right away. ---->>>

We don't break the law. ---->>>

We use competitive markets to arrange for delivery of our food supply. ---->>>

When there's uncertainty they always think there's another shoe to fall. There is no other shoe to fall. ---->>>

But certainly I didn't know he was doing anything that was criminal. ---->>>

Every market is in transition. ---->>>

I have to take responsibility for anything that happened within its businesses. ---->>>

In the case of Enron, we balance our positions all the time. ---->>>

Trillions of dollars every day are being exchanged around the world in all of the financial markets. ---->>>

Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities. ---->>>

But indeed a market like California is not good for Enron. ---->>>

I have faith in the market when we get the rules right. ---->>>

The problems in California have been that it's been very difficult to site and build new power plants. ---->>>

I don't think I'm a criminal, number one. ---->>>

The transmission systems are still regulated. ---->>>

We see ourselves as first helping to open up markets to competition. ---->>>

We've tried to get as much supply into California as we can. ---->>>

You'd rather have a surplus versus a shortage in your position. ---->>>

You'll have lower prices under deregulation than you will through regulation. ---->>>

I've been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed. ---->>>

Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework. ---->>>

Biography

Nationality: American
Born: 04-15, 1942
Birthplace: Tyrone, Missouri, U.S.
Die: 07-05, 2006
Occupation: Businessman
Website:

Kenneth Lee "Ken" Lay (April 15, 1942 – July 5, 2006) was an American businessman. He was the CEO and chairman of Enron Corporation for most of its existence and is a central figure in the Enron scandal. Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud. Lay died while vacationing, three months before his October 23 sentencing (wikipedia)