Ken Lay had a very productive first day in court. He only spent an hour in custody. He was released on a relatively minimal $500,000.00 bond. He can keep his passport because his work requires him to travel internationally. And, lucky for him, he needs no Fifth Amendment privilege against self-incrimination, because he did nothing wrong.

"It has been a tragic day for me and my family," Lay said at a news conference shortly after his court appearance. "An indictment came down that should not have occurred." While repeating his assertion that he took responsibility for Enron's collapse as chairman, "that does not mean I know everything that went on at Enron."

"I continue to grieve as does my family over the loss of the company, my failure to be able to save it," Lay said. "But failure does not equate to a crime. "I firmly reject any notion that I engaged in any wrongful or criminal activity," he added. "Not only are we ready to go to trial, but we are anxious to prove my innocence."

Mike Ramsey, Lay's lawyer, had a few choice words for the media as well:

Ramsey said he would push for the former Enron chief executive to go to trial ahead of other executives charged in the investigation. He maintains Lay did nothing wrong and cast blame on former chief financial officer Andrew Fastow, who pleaded guilty to two conspiracy counts in January. Fastow admitted to orchestrating partnerships and financial schemes to hide Enron debt and inflate profits while pocketing millions of dollars for himself. "Andy is obviously a liar and a thief," Ramsey said before entering the courthouse Thursday. "He admits that."