Enron Trial

The last prices on Lay and Skilling conviction futures on the Intrade market are stunning.  The last trade was $.59 on the dollar for a conviction of Lay on at least four counts and $.68 on the dollar for a conviction of Skilling on at least 16 counts.  This is a major price increase after only the presentation of the first witness.  Moreover, the price is high given the minimum conviction on multiple counts required in the futures contract.  Things always look different in the light of day than they do in a lawyer's chambers. 

The lawyers for Skilling have condemned the trades arguing that it is crass to "trade on human life."  They ignore of course that Enron trading heating oil futures in the California heating market in the winter.  Enron's trades were, apparently, neutral of human life.