Tuesday, April 11, 2006

Jeff Skilling Takes the Stand

Jeff Skilling took the stand yesterday and, as reported in the NYT, offered this explanation for Enron's troubles:
Mr. Skilling said Monday that short sellers and The Wall Street Journal had an organized campaign to damage the company. He said that after he left Enron he was "thrilled with the operating performance" of the company. But in October, The Wall Street Journal began writing articles questioning Mr. Fastow's LJM partnerships.
One wonders how credible the jury will find this upbeat assessment of Enron's financial condition after weeks of testimony describing the company's problems.

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