There is a bit of whining in this case from people who simply lost money in an investment shift. But the critical factor was that Enron was lying about how well the company was doing, right up until the company fell apart.

Quite simply, if you bought something because of a fake description of it's quality, it doesn't matter if the person that gave you the fake description was directly making money off the deception. The important thing is if they knew the description was false.

And the Enron executives where in fact making money directly off the stock, because they owned so much themselves. What angers people most about Enron is that those executives where out in public saying everything is fine while dumping every share of their own Enron stock they could.

And there is another group that was even more directly harmed by Enron. The Enron employees who where heavily invested in Enron because of the way their retirement system was setup. At the same time as the top tier was selling their own shares they where working to prevent the regular employees from doing the same.

Jay