Enron's Ken Lay Indicted

"It's about time," said Sen. Peter Fitzgerald, R-Ill., chairman of the consumer affairs subcommittee of the Senate Commerce Committee, which held Enron hearings in 2002. "Enron was as obvious a pyramid as Giza. That it could have been built without Lay noticing was always a ludicrous suggestion."

Former Enron Chairman Ken Lay, the man who guided the energy giant to greatness and was at the helm when it crumbled, faces federal criminal charges after a Houston grand jury issued a sealed indictment against him on Wednesday.

The 62-year-old -- once revered by employees and the Houston community alike -- is expected to surrender to the Federal Bureau of Investigation this morning and will enter a plea in front of U.S. Magistrate Judge Mary Milloy.