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Pascrell Hails Indictment of Kenneth Lay

Location: Washington, DC


Washington-U.S. Rep. Bill Pascrell, Jr. (D-NJ, 8th) today issued the following statement regarding the federal indictment of Ex-Enron Chairman Kenneth Lay, by a Houston grand jury.

"The indictment of Kenneth Lay is welcome news. His role in Enron's scheme to deceive the public, company shareholders, and government regulators will rightfully be exposed by prosecutors. Today's events serve as a warning to future white-collar criminals: the American economy and the people's trust cannot be exploited for private gain.

Ken Lay should be forced to return the many millions of dollars that he bilked from those he was entrusted to lead. The American worker should not have to sacrifice his or her financial security to pay for the misdeeds of a powerful few."

"This also serves as a message to the Bush administration that appointments to federal regulatory agencies cannot be bought and paid for. Now the Federal Regulatory Energy Commission will be pressed to do its real job of protecting the economic and environmental interests of the American people."

"Today's news is not only about Texas or California - it's about the entire nation, including New Jersey. What is left of Enron is nothing more than a smoking ruin, particularly for the hundreds of former employees of Garden State Paper, a Garfield-based subsidiary of Enron. All they have left are lost pensions, empty promises and uncertain futures.

I will continue to fight to ensure that these hard-working citizens get the justice they deserve."

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