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Tuesday, February 07, 2006

Enron Trial Starts with the Lines Clearly Drawn

Last week I attended the Enron trial in Houston, Texas. I heard the opening arguments of the prosecution and the defense and the testimony of Mark Koenig, the former Enron Investor Relations Executive, who was the prosecution's first witness.

In opening statements, the prosecutors presented a compelling and easily understood case that Lay and Skilling knowingly lied to the investing public about Enron's financial condition, when they were well aware that the company's finances were crumbling. By contrast, the defense touted the "brilliance" of Skilling and Ken Lay's charitable works in Houston and his connection to World leaders.

Koenig was a very effective witness who testified that Lay and Skilling were involved in misleading investors about Enron's deteriorating financial condition.

My full comments are reflected in a USA Today op-ed article which I wrote and my blog on of the first week of trial entitled "Blowing Smoke or Raging Fire?"

You can view my Enron articles on my website ""


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