As some of you may know, I have an interest in Enron and the ensuing court case, being an ex-contractor for them.
This morning’s Economist reported the following:
The fall guy stands up
Andrew Fastow, Enron’s former chief financial officer, gave testimony as a prosecution witness at the trial of Kenneth Lay and Jeffrey Skilling, who held the reins leading up to the energy-trader’s bankruptcy. Mr Fastow, who has struck a plea-bargain with prosecutors, told of secret partnership arrangements that were used, among other things, to give as much “juice” as possible to earnings and to hide losses. Both defendants deny the charges.