Wednesday, December 28, 2005

Lay & Skilling Vs. Fastow & Causey

In the gleaming corridors of the 51st floor
The money can be made if you really want some more
Executive decision
A clinical precision
--The Clash

I don't how much of a battle this is going to be: On the one hand, you have the CFO and the top accountant of Enron, and on the other is the CEO and ex-CEO.

Basically, the guys calling the shots and those executing the orders.

Less than three weeks before he was to face a jury alongside Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling on charges including conspiracy and fraud, the company's former top accountant, Richard Causey, is switching sides.

I'm not betting that Lay and Skilling are going to get out of jail, with Fastow already serving ten years in a plea bargain. Gee, guys. You're really betting on getting out.
"It changes the face of the trial for the prosecutors and the defense," said Jacob Frenkel, a former federal prosecutor, who noted that the Lay and Skilling defense teams knew a Causey plea was a possibility.

"They had to have some contingency plan for trial preparations for a case without Causey. Now they just put that plan in place," Frenkel said.

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