(update) WONDERFUL column on Enron's former directors.

See the Deal Professor's column in today's New York Times (here).

UPDATE (or why I shouldn't monitor my blog before 6:15 a.m.)--my buddy George posted a great comment, which I accidentally deleted, so here it is:

While I do not think all of the folks mentioned in the article are as pure as the driven snow, there is a thinly veiled assumption that they knew what was going on when bad things were happening and turned a blind eye. I think it is premature to indict them in the media when they were probably lied to like the unlucky investors in those companies (or would any of you like some of our Lehman Brothers stock?).

Me:  George, I'm sure that they were lied to.  There's no way that they weren't.  The question that I have (and one that I don't know how to answer) is how boards can pierce through any lies that their managers throw their way, especially when they assume that their managers are the good guys.  If you post another comment, I promise to have had coffee and won't accidentally delete it!