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Non-Tech : The Enron Scandal - Unmoderated
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To: Glenn Petersen who wrote (2934)2/21/2004 7:24:45 PM
From: Raymond Duray  Read Replies (1) of 3602
 
Glenn,

I completely agree with your assessment. Skilling was the evil genius thrusting Enron where none had dared go before, with Lay acting as the chief enabler and greaser.

Today's Washington Journal on C-SPAN featured a segment with Bethany McLean, the Fortune Magazine reporter who originally broke the Enron story and who has recently released "Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron" tinyurl.com

She had some pretty good insights into the scandal, and comes down in the camp that Ken Lay may or may not be prosecutable. But that there is certainly no 'smoking gun' linking Lay to fraud.

Since they were the 'smartest guys in the room', Lay and Skilling first and foremost examined every move from the perspective of "plausible deniability". It looks like that 10 day period between the announcement of a hostile relationship between the Department of Justice and Enron, and the seizing of the records will be the crucial determinant of the case.

My bet is that Ashcroft's DoJ decided when to seize the books after they took Lay's call to say he'd shredded as much evidence as he felt he needed to for "plausible deniability" to effectuate. But I'm just an old cynic. So don't take my word for it.

Those who talk, don't know. Those who know, don't talk.
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