Enron, Ep 6: Lies and Choices

Bad Bets

The Wall Street Journal

News, Business, True Crime

4.8 • 1.3K Ratings

🗓️ 16 November 2021

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Enron CEO Ken Lay was practically the company's founding father. But when federal authorities began investigating Enron after its collapse, prosecutors had a hard time connecting Lay to anything illegal - and Lay himself insisted that he was innocent. Until: prosecutor John Hueston joined the team, two years into the investigation. In this episode, how the Enron Task Force built its case against Lay. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to Bad Betts, a podcast from the Wall Street Journal that unravels big
0:05.9	business dramas that have had a major impact on our world.
0:09.7	This season, we're looking at the collapse of Enron.
0:13.0	I'm John M. Schweller.
0:15.4	Enron's bankruptcy in December 2001 shocked everyone.
0:19.2	Within weeks, Congress was digging in.
0:21.6	So was the Enron Task Force, a team of federal prosecutors and investigators assembled to
0:26.5	look into possible criminal conduct at Enron.
0:29.6	Early on, they went after some of Enron's enablers, like the banks and auditors, and
0:34.2	they went criminal convictions along the way.
0:36.6	But the primary goal was to investigate the people who headed the company, former chief
0:40.9	financial officer Andy Fastow, former CEO Jeff Skilling, and of course, the man who'd
0:46.6	been at the top of Enron for most of his existence, former CEO and chairman Ken Ley.
0:53.3	Stay with us.
0:57.6	Get a better grip on the markets.
0:59.8	WSJ's Take on the Week is here to give you a look ahead to the most important events
1:04.8	on the economic and business calendar and what they mean for your money and investments.
1:10.4	Subscribe wherever you listen to podcasts.
1:27.6	Renovative companies in the world.
1:31.4	But he wasn't one of those sharp elbowed execs.
1:33.8	Laced it as an easy guy to like.
1:36.0	People who work with Lay spoke highly of him.
	...

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