Disgraced business figure Kenneth Lay

An executive whose dishonesty or ineptitude, or both, cost thousands of people their livelihoods and/or their life savings was Kenneth Lay, CEO of Enron Corporation.

Lay had a Ph.D. in economics, was once a university economics professor, and began his career with Exxon in 1970. He worked for a while for the Department of the Interior, rising to undersecretary, and next worked for Florida Gas.

In 1985, he was employed by Enron and the next year became its CEO, changing what began as a pipeline company for natural gas into a huge energy-trading firm--one of the nation's biggest companies.

Like most canny CEOs, Lay contributed to both political parties, but he favored the Republicans. He was in the inner circle of George W. Bush, who called him "Kenny Boy." Lay and Enron were most generous contributors to President Bush.

Like most CEOs of large corporations, Lay was wildly over-compensated, of course, but his troubles really began when, after he had just divested himself of a few hundred million dollars in Enron stock, and after he knew the company was headed for bankruptcy, he smilingly assured his employees that all would be OK and to keep buying the company's stock. Many did, and it cost them dearly.

He was charged in 2004 with securities and wire fraud plus other charges and in 2006 was found guilty. He faced as much as 30 years in prison but died by heart attack while on vacation prior to his sentencing.