Ten former directors of Enron have agreed to pay $13 million from their own pockets to settle a class action suit stemming from Enron's collapse in 2001, which wiped out some $60 billion in shareholder value. Because directors almost never have to pay even a penny in such suits, the Enron settlement - announced just days after several former WorldCom directors agreed to a similar deal - was widely viewed as a significant development that could discourage potential directors from serving on corporate boards.
This view is mistaken. A close look at the settlement shows that Enron's directors have still not been held accountable in any meaningful way.
These Enron style Capitalist pigs are greased and are willing to grease as they are the slipperiest of pigs going.