Ken Lay’s Theory of Corporate [Mis]Management

Ken “I Take the Fifth” Lay (credit: LearnedLeague.com)

`I take full responsibility for what happened at Enron,” said Mr. Lay, 62. “But saying that, I know in my mind that I did nothing criminal.”

Kurt Eichenwald captures the querulous, Alice in Wonderland quality of Ken Lay’s corporate governance philosophy in Crimes of Others Wrecked Enron, Ex-Chief Says.

It can be broken down this way: “I WAS responsible, but I’m not responsible. If anyone’s responsible it’s that diabolical other guy down the food chain, not me.”