The Ken Lay Chair in Economics

Sounds like the punchline of a Motley Fool joke, doesn't it? It's not. As an alum and former member of the faculty at the University of Missouri — not to mention someone who documented Enron's crimes and the aftermath back in the day — I have to wonder what the hell MU hopes to accomplish by filling this position. Lay was convicted of fraud and conspiracy for his role in the loss of 4,000 jobs and about $2.1 billion in employee pension investments. He died, in July 2006, before he could be sentenced, so he never paid the full measure for his crimes. At MU, at least, he'll live on in a more favorable light.

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