Comments

Yeah 85 years sentence. Thats is letters - not in deed. If the American System enforces this.. it will be great trend setter. Other's then, MAY - hestitate in masterminding ripoffs and fraud.. !!

Pity, he'll just walk way.. why ?? the higher courts will turn down the lower courts decesion on appeal. ..

When will America learn to tarball their own and place them on a pole and lead them stright into the Outhouse for lockup ??

ITs a tradegy ..in the making.. The richer you are, the more daring atrocities can be done !!

Posted by /pd at March 15, 2005 3:01 PM

Brain dead lives on in a India caste system of the great white north - Martha Stewart does time - the pendulum has swung to extra liberal stiff sentences for Wall Street types. 85 years & all counts - plus $100M fines.

Posted by John at March 15, 2005 3:13 PM

One of the major advantages of a corporation was to shield owners from liability. This shield is brought at the expense of a form of double taxation. The major benefit is that it allowed owners to take on risk without loosing their personal possessions. This liability shield fostered an environment of innovation. At the time this law was in place most business owners were the runners of their own business. Now in the era of professional management of large companies we have business leaders going to jail for doing illegal things. While in this case, having Mr. Ebbers have civil penalties to the parties that he defrauded is understandable, the current direction towards criminalization of management (and board members) for business failure strikes at the heart of corporations. The fear of criminal prosecution will paralyze senior executives. Instead of “First Breaking All of the Rules” and trying to be a revolutionary business most senior executives will “play it safe”. In the end jailing people who take risks leads to the meek inhering the earth. With the meek in charge don’t expect the revolutionary advances in productivity that keeps the American Standard of living one of the highest in the world. Do not ask who the bell tolls, it tolls for thee.

Posted by Steve Battista at March 15, 2005 3:58 PM

There is a big difference between "breaking all the rules" and "breaking all the laws." The former is a recipe for innovation, the latter will wind you in jail. The corporate shield gives you the right to take risks, not to commit crime. Ebbers is not quite the ubermensch he thought he was. This verdict is well deserved.

Posted by Jake Carnow at March 15, 2005 4:16 PM

Just to let you know that Conspiracy of Fools is a great book.

If Ken Lay walks, I'm moving.

Posted by Jack Covert at March 15, 2005 4:45 PM