I continue my fervent research of Enron Broadband Services (EBS) — in fact, one of the reasons my posts have been fewer in number than usual the past few months is because I am spending a lot of time on EBS study. I will share the fruits of that effort in great detail a bit later.
In the meantime, I think I have finally figured out what crime the Feds tried to pin on the EBS defendants. I think the Feds believe that the EBS defendants are criminals because they were “there” at Enron at some point in their lives! I know this sounds crazy, but in the New Age of Superstition, in which simply being a business executive is enough to make a person a criminal suspect, it was all the Feds needed to feel justified in bringing indictments against innocent people.
Honestly, after pouring over tens of thousands of pages of EBS documents, including the trial transcripts, there just is no coherent evidence of crimes at EBS among the defendants who actually went to trial back in 2005. And the government’s case at trial is completely squirrelly, jig-jagging all over the place as the desperate prosecutors tried to find something to bring up against the defendants that would stick with the jurors. At the end of the day, the thing that the prosecutors continued to come back to time after time was essentially this argument:
“The defendants are business executives — we all know that business executives are greedy. They were there at Enron, and they actually got paid for being there. And … gasp … they traded some Enron stock while being there! Clearly, this makes them criminals.”
And that, dear reader, was pretty much the Feds’ sole justification for hounding innocent people for years and for wasting tens of millions of taxpayer dollars on the EBS prosecutions.