Summary

The Senate Judiciary Crime and Drugs Subcommittee held a hearing today on the current penalties for white collar crimes. The Subcommittee wanted to investigate the possibility of a need to change the penalties for these crimes in light of the Enron collapse.

Source CONUS Archive
Record ID 273083
Story Slug WHITE COLLAR CRIMES (2002)
Location WASHINGTON, DC
Format TVD
Date 6/19/2002
Archive Time 22:49
TRT 3:20
Supers 1) Senator Joe Biden / D-DE 2) Charles Prestwood / Former Enron Employee, Lost $1.3 million 3) Janice Farmer / Former Enron Employee, Lost $680,000
Video Description everyone speaking, wide shots of panel, Biden shaking hands with panel, b-roll of people in audience.
Description The Senate Judiciary Crime and Drugs Subcommittee held a hearing today on the current penalties for white collar crimes. The Subcommittee wanted to investigate the possibility of a need to change the penalties for these crimes in light of the Enron collapse.
Script (SUGGESTED TRANSCRIPT OF AUDIO) 00:00 Sometimes we forget it. But the strange thing is, when it comes to those who rob us with a pen, rob us with a pencil, rob us with their financial shenanigans, they tend to go to jail less or they steal from us, to be more precise, than someone who would steal the same amount of money from us in a circumstance where they broke into our house, 00:27 the person who breaks them turn around. Because, when I retired from Enron back in that in October, the first of 2000 00:36 I had plans on doing some traveling, my fiance and I, and we had plans of, you know, doing 00:45 a lot of things, see some of this good old, beautiful USA, you know. 00:50 But since everything happened the way it did at Enron, all I do good to stay home, you know. And it's awful expensive, even to stay home, 01:00 that's like. 01:02 And when you think about the mental end of it, that is where it really hurts you when, 01:09 when you go to bed at night, knowing what you did have, you go to bed now knowing what you don't have. In other words, it makes you real thankful for the things that you do have. But in other words, we just went 01:22 and the word loyalty. Right now, I do have two definitions to that word, the one that I live by for 33 and a half years. 01:31 It 01:32 kind of left me hanging out on a limb when I found out that the real, true definition of it wasn't exactly what I was thinking. But you know, 01:45 for all of those years, I faithfully put money into my savings plan, and I fiercely protected it, never touching my savings no matter what hardship came along 01:56 on personal gain and what had taken me a lifetime to Bill was destroyed in only a matter of days 02:04 when 02:06 I'm afraid of my electric bill. Now, 02:09 at night, I sit home in the dark 02:13 and I use no heat during the winter time, and I don't allow myself to use air conditioning 02:20 that I saved now I stopped the newspaper delivery, and I was really glad when I got a $33 refund on that, because that's now a week's worth of groceries. 02:34 And I don't mean to give the impression that I'm too good for this or above any of it, but this is not what retirement was supposed to be like, and it's certainly not what Enron had doubted to its employees all those years, we were lied to about the funding in our society. 02:52 All you have to do in any society, look at their criminal code. I 03:07 the opportunity 03:09 to either lift or even postpone those this lockdown, and they chose not to, 03:15 and he does something really bad to her, takes her a lot.
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