Kenny-boy rids the wah-mbulance.
Ken Lay took the stand today to give his take on Enron's massive 2001 meltdown. His defense? "I was responsible, except for those who fucked-up - that's their fault":
Under questioning by defense lawyer George "Mac" Secrest, Lay said: "I accept full responsibility for everything that happened."I'm sure the people who had to hock family heirlooms to pay their utility bills and the workers whose pensions evaporated will be more than willing to cut Kenny-boy a little slack.
He quickly added, however, that he couldn't accept responsibility "for the individual conduct of all 30,000 employees at Enron, particularly those who appear to have engaged in criminal activities."
And what was his biggest mistake? Hiring the man who would eventually flip and become the government's star witness:
Lay said his three biggest mistakes during 15 years as chairman and chief executive of Enron all involved Andrew S. Fastow, the former chief financial officer who pleaded guilty to conspiracy and became the government's star witness.Now that's contrition!
Lay said he never should have agreed to Fastow's hiring, never should have let him rise to CFO, and never should have allowed him to create and run the notorious LJM off-the-books partnerships while continuing to serve as CFO.
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