Both houses of Congress are expected to issue a subpoena to Ken Lay, the former C-E-O of now-defunct energy trader Enron. Iowa Senator Chuck Grassley supports the action, especially after Lay canceled his testimony before the two committees on Monday. Grassley ways “we gotta be outraged at what Enron did.” He says we also need all the information they can get to ensure something like this doesn’t happen again.If subpoenaed, Lay could still refuse to testify, invoking his Fifth Amendment rights. Grassley says daylight needs to shine on the Enron situation to prevent a repeat performance that would destroy the financial futures of many more people. Grassley says he’s introducing legislation that would help ensure the retirement plans of people in private industry.Lay’s attorney has told members of the House Financial Services Committee that he couldn’t accept a subpoena on Lay’s behalf because he doesn’t know where his client was. Lay stepped down from Enron’s board of directors last night.
FOLLOW US ON TWITTER
UNI receives grant to turn old photos into interactive exhibit
UNI receives grant to turn old photos into interactive exhibit - Radio Iowa
An archival photography project at the University of Northern Iowa has landed a federal grant to help its users ...
Home test - Radio Iowa
Unhealthy air detected in parts of the state from Canadian wildfire smoke
Unhealthy air detected in parts of the state from Canadian wildfire smoke - Radio Iowa
The wildfire smoke from Canada is back over Iowa once again. Brian Hutchins at the DNR Air Quality Bureau says ...
Banks in Sioux, Lyon County the target of check cashing fraud
Banks in Sioux, Lyon County the target of check cashing fraud - Radio Iowa
The Sioux and Lyon County Sheriff Departments are working with local police trying to identify individuals involved ...