Asymmetrical Information

William F. Buckley Jr wants

William F. Buckley Jr wants the Enron officers to return the $130 mil they made selling stock. I couldn't agree more, but unfortunately I don't think there's any way to implement his other suggestion -- that it be routed directly to the 401(k). I imagine any such returns would go straight to the general creditors. In fact, I think the 401(k) holders will probably be the last people to get any money, because my (extremely limited) understanding of bankruptcy law is that any judgements in favor of investors will get in line behind holders of Enron's massive debt. On the other hand, a lot of that debt was secured by worthless stock, so it's probably more complicated than I think.