Andrew Fastow Quotes
I wish I could undo what I did at Enron but I can't. I understand that I deserve punishment. Your honor, I accept the prison sentence that you are about to impose and will serve it without bitterness.
Barrionuevo, Alexei. "Fastow, Under Plea Deal, Is Sentenced to 6 Years." The New York Times, 26 Sept. 2006, p. C1.
The Senator asked Justice Department officials if the reason that there had been no prosecutions of any major financial figures associated with the Meltdown of 2008 and the Great Recession is that they were “too big to jail.” This appears to be the first public official to use this phrase. See {637991} for the Attorney General’s sad but truthful reply.
This quotation, in addition to posing a challenging political question, illustrates an oratorical technique that he was particularly good at. Instead of making declaratory and accusatory statements about the administration and their law enforcement record, he asks the question of how the actual outcome came about. The failure is then clear, and the accusation is made in the minds of many if not most of this audience.
Andrew Stuart "Andy" Fastow is a convicted felon and former financier who was the chief financial officer of Enron Corporation, an energy trading company based in Houston, Texas, until he was fired shortly before the company declared bankruptcy. Fastow was one of the key figures behind the complex web of off-balance-sheet special purpose entities (limited partnerships which Enron controlled) used to conceal Enron's massive losses in their quarterly balance sheets. By unlawfully maintaining personal stakes in these ostensibly independent ghost-entities, he was able to defraud Enron out of tens of millions of dollars. The U.S. Securities and Exchange Commission opened an investigation into his and the company's conduct in 2001. Fastow was sentenced to a six-year prison sentence and ultimately served five years for convictions related to these acts. His wife, Lea Weingarten, also worked at Enron, where she was an assistant treasurer; she pleaded guilty to conspiracy to commit wire fraud, money laundering conspiracy and filing fraudulent income tax returns, and served jail time before early release to a halfway house.
