Friday, August 09, 2002

WorldCom and Enron

The big difference in the two cases is not the scale of the criminal activity; it's the relative sophistication. The WorldCom-ers are fairly straightforward crooks. The Enron boys are much more subtle, much more complex criminals. This is why the WorldCom indictments were relatively easy to obtain, while the Enron indictments have still not been handed down.

Given what we've learned over the course of the last month, former Enron CEO Jeff Skilling's decision to testify before Congress seems almost unbelievable. He could have and almost certainly should have taken the 5th Amendment.