It's About Time-- Lay Indicted in Enron Scandal.

CNN has an article on Lay's indictment. It appears that Lay will claim that "...knew nothing of the secret partnerships managed by Fastow and fully believed in the company's long-term viability when he urged employees to hold onto their Enron shares". But common sense realy makes this hard to buy given Lay's behavior. Specifically, "While details of the charges are not yet publicly known, prosecutors are expected to focus at least part of their case on assurances Lay gave, in the months leading up to Enron's fall, to employees about the company's financial health at the same time that he was quietly unloading his own Enron stock". The obvious problem here is that if Lay really did believe that the company was in good financial shape, then he would also want to hold on to his own stock, but he didn't. It just seems strange.