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The Ken Lay Analysis Begins

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As the reality of Ken Lay's death is sinking in, the business editorials are coming out with post mortems. This one, in the Washington Post, roughly outlines the path Lay took to the top, and then down again. It tries to put a human face on someone widely reviled without absolving him of responsibility for what has been judged criminal behavior.  
 
It highlights some of the discrepancies and contradictions between what Lay said, and what really happened, as the Enron debacle unfolded to show that at best, Lay had begun to believe his lies and deceptions and at worst, deliberately misled those who relied on his leadership.

Lay May Have Deceived Himself as Much as Everyone Else

Washington Post - 7/5/2006 11:04 PM

At one point during the recent Enron trial, prosecutors cross-examining Ken Lay asked the former chief executive how he could have allowed a friendly analyst to report that he was a net buyer of Enron stock at a time when, in fact, he was unloading more than half of his Enron shares.
 
"I suppose it depends on how you define 'net buyer,' " Lay replied, in a splendid display of Clintonian hair-splitting
 
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