Kenneth Lay Quotes

» I take full responsibility for what happened at Enron. But saying that, I know in my mind that I did nothing criminal.

» There are absolutely no problems that had anything to do with Jeff's departure.

» There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.

» We don't break the law.

» Jeff knew full well what he was walking away from. Again, he needed to deal with this right away.

» Investors don't like uncertainty.

» When there's uncertainty they always think there's another shoe to fall. There is no other shoe to fall.

» Any slots at the senior level, including CEO or other slots, will be filled internally.

» We need someone who is a strong representative of our value system.

» The last thing I would have ever expected to happen to me in my life would be that, in fact, I would be accused of doing something wrong and maybe even something criminal.

» I have to take responsibility for anything that happened within its businesses.

» But I can't take responsibility for criminal conduct of somebody inside the company.

» I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.

» But the most important thing is, Enron did not cause the California crisis.

» Our liquidity is fine. As a matter of fact, it's better than fine. It's strong.

» But certainly I didn't know he was doing anything that was criminal.

» I don't think I'm a criminal, number one.

» Am I a fool? I don't think I'm a fool. But I think I sure was fooled.

» Trillions of dollars every day are being exchanged around the world in all of the financial markets.

» Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.

» We use competitive markets to arrange for delivery of our food supply.

» The problems in California have been that it's been very difficult to site and build new power plants.

» Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.

» You'll have lower prices under deregulation than you will through regulation.

» We see ourselves as first helping to open up markets to competition.

» The transmission systems are still regulated.

» You'd rather have a surplus versus a shortage in your position.

» In the case of Enron, we balance our positions all the time.

» I've been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed.

» I have faith in the market when we get the rules right.

» But indeed a market like California is not good for Enron.

» We've tried to get as much supply into California as we can.

» Every market is in transition.

» They can't do without electricity. They can do with less electricity.

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