Cheney urges Americans to save (Is Ken Lay in jail yet?)

Posted 3/2/2006 11:12 AM Updated 3/2/2006 11:30 AM

Cheney urges Americans to save

WASHINGTON (AP) — Vice President Dick Cheney urged Americans Thursday to do a better job of saving and challenged policymakers to strengthen pensions and fix Social Security to help people in their golden years. (Related story: How long can households sustain negative savings?)

"The American dream begins with saving money and that should begin on the very first day of work," Cheney told a conference here exploring how to encourage people to boost savings and be better prepared for retirement.

Too often, workers are living paycheck to paycheck and are not saving sufficiently, Cheney said.

Last year, Americans' personal savings rate dropped to its lowest point since the Great Depression. The dismal state of savings comes as a big wave of baby boomers will soon start retiring.

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http://www.usatoday.com/news/washington/2006-03-02-cheney-saving_x.htm

Former Enron 'Boy Wonder' Recounts Lies

By MICHAEL GRACZYK, Associated Press Writer
12 minutes ago

HOUSTON - For a "boy wonder" at Enron Corp. known for advising his colleagues to "just do the right thing" as he rose swiftly into the highest ranks of the company in his 30s, David Delainey is spending much time talking about all the wrong things he said he did.

"We lied to shareholders, employees, the public," he said Wednesday in the fraud and conspiracy trial of Enron founder Kenneth Lay and former Chief Executive Jeffrey Skilling. "It was just plain wrong."

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http://news.yahoo.com/s/ap/20060302/ap_on_bi_ge/enron_trial_29

Ex-Enron CFO Fastow to Testify Next Week

By KRISTEN HAYS, AP Business Writer
Wed Mar 1, 8:32 PM ET

HOUSTON - Andrew Fastow, the former Enron Corp. chief financial officer who admitted he engineered schemes to hide company debt and inflate profits for years, will testify next week in the fraud and conspiracy trial of his former bosses, company founder Kenneth Lay and former Chief Executive Jeffrey Skilling.

Prosecutors told U.S. District Judge Sim Lake on Wednesday that Fastow was expected to testify next week against Lay and Skilling in a much-anticipated faceoff between the defendants and the man credited with devising the financial strategies that helped fuel the company's swift December 2001 descent into bankruptcy proceedings.

But Fastow isn't the only worry for the defense. David Delainey, a former high-ranking trading and retail energy executive testified Wednesday that he, Skilling and others lied about the company's financial health as part of a conspiracy to defraud investors.

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http://news.yahoo.com/s/ap/20060302/ap_on_bi_ge/enron_trial_27