So, a tortured Jeff Skilling is back in the news as a result of being cited for public intoxication while visiting Dallas a week or so ago.
While many await with anxious anticipation the imposition of the harsh prison sentence that Skilling will almost certainly receive, I continue to think about the great waste that results from the government’s criminalization policy toward risk-taking businesspersons and Skilling’s legacy of beneficial risk-taking.
This is not the product of a rational criminal justice system.
Houston's Clear Thinkers
Longtime Houston attorney Tom Kirkendall's observations on developments in law, business, medicine, culture, sports, and other matters of general interest to the Houston business, professional, and academic communities.
Paul Fisher and I have sent a letter on Thursday to Judge Sim Lake about the sentencing of Jeffrey Skilling. It will be posted on Monday at http://www.heartland.org. It makes the point that knowing the alleged hidden information earlier would not have moderated the subsequent decline in Enron’s share price. Thus, there was no additional reduction in investor wealth from the alleged fraud.