Enron's Skilling Answers Markey at Hearing; Eyes Roll

[chhsdogs14]

He's not at bad man. He's not an unusual man. He just wanted to change the world. And I think there'll come a time when everyone understands that. All humanity is here. There's greed, there's fear, joy, faith, hope......

And the greatest of these.....is MONEY!

[forza1992]

the real scum of the world

[Killoea]

The problem I see with this video is that it should not be viewable by the public because you will never get any real fucking answers.... all you get is bullshit

[everett8811]

The girls in the back seem to think its all hilarious. Lol

[brown9708]

Fastow and Skilling are Jews

[tubub]

such a snake. great liar 

[zamrock20]

Could anyone explain to me what happened ?

[Gideon6640man]

Our elected officials should get the balls to have these Enron types arrested and nationalize their corporations.

[MrWagman11]

Liars, cheaters and sneaks. Shame. Shame. Shame.

[avzeolla]

Scumbag. Greed.

[StanDolla]

this man is a psychopath....according to the PCL-R

[dongtingwong]

When this hearing took place Jeff's late son was only 12 years old. Now his son at 20 years old is dead of apparent suicide or accidental drug overdose. Unfortunately at the price of his family, Jeff is getting exactly what he deserves.

[berkamore]

The Enron guys never cost a penny to the taxpayers and went to prison.

Banksters cost us trillions and are walking around with bonus money stuffed in their pockets.

I guess Enron's real mistake is that they didn't have enough influence in Washington.....

[michael918273645]

@berkamore You're joking right?

[berkamore]

@michael918273645

Do you see anybody from Goldman Sachs in jail?

Yet they cost us a minimum of $ 12 billion dollars.

GS and Enron were both run by crooks. Yet some crooks are in jail and some are not. Not quite sure what is so hard to understand.

[salvadory]

@berkamore are you a fucking cluless idiot- or what? didnt cost us a dime? what planet are you from? Do some research- not enoughtinfluence- Ken Lay hand picked the regulators for his buddy George Bush JR- you are to stupid to live- the taxpayers of western states paid hundreds of millions in overcharges!

[berkamore]

@salvadory

Yeah, I seem to remember Enron being bailed out.

Read the comment, Einstein and read it carefully before posting utter nonsense.

[salvadory]

@berkamore still dont see your point- they cost many western states millions in overcharges- they werent bailed out but they cost many of our hard working families- and actually received federal grants taxbreaks and help so yeah they cost all of us! The banksters did get away with murder!

[berkamore]

@salvadory

I live in California so I am familiar with the issue.

But being overcharged (even if it sucks) and having the 401 k of millions of American families just disappear and destroying millions of jobs are not exactly the same thing.

Yet, I don't see any criminal charges brought against anyone on Wall Street.

Again, the Enron guys did far less damage than those I-bankers and went to jail. the GS guys are still out there doing whatever it is they do.

[salvadory]

@berkamore hey every little counts! Too bad people have short memories- wall street and banks are back to their old tricks - dont worry it will happen again!

[berkamore]

@salvadory

I don't remember Enron receiving a bailout and a lot of their execs went to jail.

Goldman Sachs received a bailout and NONE of their execs went to jail.

You can say that Ken Lay was Bush's buddy but that didn't help him when the.........hit the fan. However, I am saying that the Hank Paulson, the ex CEO of Goldman Sachs, who was Treasury Secretary at the beginning of the crisis, made sure that GS got bailed out.

But I guess you were too smart to figure this out.

[salvadory]

@berkamore a few went to jail- and if you think im happy the banksters got away wiith it youre wrong- im for a complete reinvestigation into the banking scandal- wall street deriatives and toxic asset sales and iraq war profiteering- and im for both republicans and democrats and others who allowed it to be held accountable jailed fined and executed for treason - send a message to these scumbags- defraud the country and death awaits!

[mrbobevans]

@berkamore I guess good ole Kenny Boy Lay and weasel Jeff Skilling took care of the lineman who worked 30 yrs at Pacific General. They lost their life savings when Enron went bankrupt.

[efisher88]

1st Timothy 6:10- "For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs." If you're so smart Skilling, how's come you ended up in prison?

[uomoborracho]

does anyone have the video when skilling says "i'm not an accountant??"

[ggsmartin]

shouldnt the women in the backround be giving blowjobs?

[buddyisreal23]

you'lll be able to turn on your computer and "boom" you'll find out this fucker is stealing your money. thats how the commercial should have went

[LetsGetEthereal]

I LOVE the gossipy ladies in the background!

[WilliamRowlett]

This is funny watching a dork Cliff Clavin character trying to be a serious cross-examiner. Cliff would do better.

[cancanbiker]

WTC 7

[ejdf870]

This is sickening. We've been brainwashed for decades to "be loyal" and serve the company, government, etc. What this film proves is that these rules have been put in place to benefit those in power. How convenient for the top dogs to tell me to 'stay in my place', while they reap HUGE financial rewards. I don't believe in any of this hypocritical crap. What's good for the goose is good for the gander. I will take as much as I can and run before I die. Good thing I have good teachers.

[VictrolaJazz]

@ejdf870 Jeff Skilling is a typical person of the 70's--a Me Generation, self-absorbed, self-centered, Baby Boomer.  He'll never admit that he did anything wrong if he lives to 101. All the companies are being run and ruined by people like him today--they gain untold wealth while the rank and file struggle to get by and get penalized if they are 1 minute late coming back from lunch. A file clerk receives more oversight today and can be dismissed more quickly than a crooked CFO.

[ejdf870]

@VictrolaJazz WOW! Thank you for mentioning what I tell people all the time, but just get a blank stare. I always say, if you want to see why corporate America is in the state it's in just look at the generation who is in charge of it. Brilliant for pointing out the hypocrisy and double standards I've always suspected. Thanks.

[VictrolaJazz]

@ejdf870 The Baby Boom generation, just now reaching retirement age, has been a horrible steward of what it's fathers and grandfathers bequeathed it. There's not a corporate entity that they had control of that is not worse off than it was 40 or 50 years ago. If it wasn't for government bailout, they would have destroyed Ford/GM/Chrysler. Their remuneration would make their fathers and grandfathers look like paupers by comparison.

[VictrolaJazz]

@ejdf870 While their remuneration is stratospheric, their time in charge has been characterised by greed, avarice and incompetence.

[Cabronosidad]

It's time we passed a law whereby we could go all French Revolution on these scumbags because of the size and sheer audacity of their crimes. They should be paraded in chains through the streets of New York, filthy and beaten, on a horse drawn cart, on their way to the guillotine. Vote me up if you agree.

[shaun3342]

Skilling was/is obviously a scumbag but these grandstanding politicians are equally as annoying

[VictrolaJazz]

Absolutely fascinating. At the time it happened I became obsessed with it--bought many Enron items with the "E" logo, even got a nice new Swiss Army watch with the logo that was removed from eBay because the seller didn't have authority to sell SAK products. However, I had sent him an e-mail and was able to contact him after it was removed and got it for $55! I'm currently reading Conspiracy of Fools by Kurt Eichenwald--I'm where Skilling is going to be made COO.

[loveliberty1776]

You know what I found outrageous about this whole accounting fraud outrage that sparked the SarbanesOxley Act? All of those hypocrites in Congress from sides of the political aisle moan and groan about these Big Bad Businesses.

The CBO and GAO have perpetuated a massive Enron-style accounting fraud against the American people. They cook their books defying every Generally-Accepted Accounting Principle (GAAP) principle. Graft! Waste! Robbing from the SS Trust Fund to hide budget deficits.

[Txholdumplenty]

This is why the mortgage biz went to hell too..I worked in it for 20+ yrs and over the last 5-6 saw accounting "creativity" along with paying crooks (i.e. appraisers, loan officers, brokers) millions to get the loan approved. Anyone who believes we shouldn't put a cap on bonus and salaries is just asking for continued disaster. Fine, go be a capitalist, earn billions and then go to jail like the rest of them OR stop your greed, learn to live off 2M vs 100M or continue to rip off america

[GrantValdes]

Edward Markey is suggesting that it's not legal to leave a company when one has personal doubts about its future solvency. Pretty sure it's legal. I'm not saying Skilling did nothing illegal in his time at Enron, but one is never shackled to their employer.

[ProjectFlashlight612]

As the movie about the Enron scandal pointed out, the banks (Credit Suisse, Citibank etc) that openly colluded with Enron in their massive frauds were never arraigned for any crimes. Why not? To claim that they had no idea what Fastow and Skilling were up to is just ludicrous.

Not that I feel sorry for those rat bastards in any way....

[richardb5068]

hey...thats my last name....SKILLING.....i'm kosraean and theres alot of skilling in kosrae....but we use our grandmas last name benjamin....but we have the blood of skilling...my dads side are white...but they consider them kosraean cus i don't know why but we don't know where the last name skilling comes from......they said that skilling and benjamin comes from boston....so i think that were related

[lorigee2]

If I had special purpose entities and derivatives I'd put them on the Chinese wall but only if the lights were out which caused me not to hear what happened at that shareholders meeting, but that's only because I'm a Harvard MBA right? However I don't recall saying it, did I?

[exenrontexas]

Ken Lay seized control of ENRON in 1985 thru nefarious means and that began the downward spiral of what was once a great company. Lay was DIRECTLY and PERSONALLY involved in major crimes in 1987. Skilling at the time worked for ENRON's BANK, First City of Texas, which FAILED due to suspect loans. Lay KNEW Skilling and KNEW he was just as corrupt as he way and hired him to continue the criminal path that ENRON was already on.

[rogelio67]

skilling likes to get fisted,,,,

[rh7onda7]

All people entrusted with high levels of power both corporate and govermental should be screened for sociopathy.

Dr. Hare's PCL-R test is a start

[mrchangthemexican]

hahaha 5:00 - 5:05

[mrchangthemexican]

the guy on Jeff's right

[canadaonly2]

hah, thas hilarious

[pass1409]

Who is the fella to the left of Skilling during the narrative?

Does anyone agree, he acts like a knob?

[TJis16]

Guy in the yellow tiw is so funny.

What a legend can almost imagine him thinking in his head

'man this guy is so full of crap'

[smitryan]

People will be happy to know that Mr. Skilling's current residence runs adjacent to a golf course here in Colorado...He can probably see the green through his bars. ALWAYS a fun hole to play....

[xChRoMaTiCx820x]

is there any way to see the whole enron trial video on the internet without having to pay???

[rghm]

Don't know - you can buy it at cspanarchive[dot]org: "Enron Bankruptcy, House Energy & Commerce Cmt," 2/7/02; 7.5 hrs $60. Id: 168570-1

Robert Jaedicke, Herbert Winokur, Jeffrey Skilling, Jeffrey McMahon, Andrew Fastow, Michael Kopper, Richard Causey, Richard Buy, John Olson, Thomas Bauer, Jordan Mintz, James C. Greenwood

Witnesses testified about practices at Enron, allegations of misleading accounting practices by officials and auditors, & the eventual financial collapse of the company.

[91Joko]

@xChRoMaTiCx820x Try C-Span's official site. They got 7,5 hours long "Enron Bankruptcy" program there.

[xChRoMaTiCx820x]

i feel sorry for skilling, unless you kill/rape/torture people... you do not deserve 24 years in prison... no way :(

[acfiorentina]

I agree. 24 is too much. But considering how many people's lives Enron affected, 10 years would be well deserved.

[wheezerina]

this man is responsable for destroying peoples lives.thousands of people lost their life savings as a direct result of his corruption and direction. people will become homeless because of bankruptcies. People in californa died in hospitals who were affected by the rolling blackouts caused by enron's traders. People got into car accidents and the elderly died of headstroke that summer. he deserves all 24 although he wont serve it.

[xChRoMaTiCx820x]

wait, what do you mean he wont serve it?

[BottomNotchVideos]

He has to serve a minimum of 20 years, 4 months.

[wheezerina]

he deserves to be put in a room with all of the people who he ripped off. All the people who's 401-ks he stole.The families of the people who got into car accidents durring rolling blackouts. The employees who were suddenly fired because of upper management's greed. He did rape/murder and torchure. This bankruptcy had a domino effect on our economy. Especially here in california. people's lives are destroyed as a result of his, Fastow's and Lay's greed and corruption. they chose this.

[exenrontexas]

I strongly disagree with your statement. It has far, FAR too long that corporate criminals and corrupt politicians and other white collar crimes has been givein handslap sentences which I believe is precisely what Skilling and especially Lay received. If anything they should receive MORE severe sentences than other common criminals BECAUSE they have absolutely NO JUSTIFICATION for their crimes. They show the WORST side of human nature witht he LEAST justification.

[xChRoMaTiCx820x]

hahaha... the worst side of human nature?

what about Hitler... killing millions of jews

what about Fritzl... imprisoning his daughter and raping her for 24 years

you cant even compare them, sure Skilling is an ass who steals peoples money but compare him to those two people... those are truly evil people in this world.. THEY DESERVE their jail time, 24 years was harsh for skilling

[exenrontexas]

HEY! I DIDN't compare Skilling to Hitler, YOU did. However, I do not believe that you have ANY idea of what actually happened at ENRON.  I believe that PRIDE is the first sin and the worst sin and the sin from which ALL OTHER sins come from. Therefore it is no surprise that ENRON was directly involved with the beatings of Indian locals who opposed the Dabhol plant. Also look into the questionable suicide of ENRON exec, Cliff Baxter, So many crimes, so little space.

[xChRoMaTiCx820x]

PRIDE is not the worst sin, nor is THEFT... its Murder

[exenrontexas]

Pride is the basic sin behind ALL sin. Listen carefully.. It is a SIN to think of yourself as God. That was the orginal sin that Adam and Eve made, NOT eating the apple. It was their belief that they COULD disobey God and eat the apple despite is command otherwise. Same thing with murder. A murderer disregards God's command not to murder BEFORE he kills. The same is true with ALL crimes. A murderer is STEALING the life of another disregarding the will of God.

[xChRoMaTiCx820x]

In some ways you're right, but i would much rather have all my money stolen by this greedy fucker than be imprisoned in my dad's basement for 24 years like "Fritzl" did

[exenrontexas]

One sin feeds on another. You say murder is the ultimate evil and in some ways it is but the greedy crimes of ENRON led, I believe, to the murder of Cliff Baxter. He was the only senior exec who had remorse. The day before he was going to be deposed by the FBI he ALLEGEDLY committed suicide. They claim he left an unsigned hand printed suicide note. He was shot with untraceable bird shot and the autopsy says that he held the gun five feet from his head. How long are your arms?

[xChRoMaTiCx820x]

One guy, who killed himself... NO ONE FORCED HIM! 1 guy against 1,000,000 jews... ummm... yeah... ok believe what you want

[exenrontexas]

I dispute your contention that no one forced him. Read the autopsy. He was murdered and as you say, the theft of a life due to pride is the worst crime.

[xChRoMaTiCx820x]

The way i see it, he committed suicide to avoid a jail sentence similar to skilling

[xChRoMaTiCx820x]

oh wow, i see now, your an ex-enron employee... i dont blame you for being pissed at what happened but i will always stand by for what i said before

[xChRoMaTiCx820x]

Wait, he held the gun 5 feet from his head? So... he was killed by someone?

[exenrontexas]

So, if this senior left executive who had remorse was going to be deposed the next day with the FBI then who would benefit from his death? Who would benefit from the death of the guy who was in the energy meetings with Cheney, Wendy Gramm and other high level Republicans and in the overall strategy meetings with Lay, Skilling and their bankers?

Then there is a asphalt bruise on his arm like he fell outside the car and then someone dragged him in. Unanswered questions abound.

[xChRoMaTiCx820x]

Yeah you could be right

[terrafirma91]

Witnesses had to be silenced. Sociopaths don't care who they eliminate. That's the biggest problem in government allowing Wall Street to "call the shots". The entire economic system is being controlled by sociopaths. Skilling is just one of many others.

[exenrontexas]

So what you are saying is that America needs to work harder at defining and identifying these sociopaths and then controlling them? Isn't that what FDR did in the recovery from the Great Depression? Isn't that the job of government regulators? Why did America allow REAGAN to dismantle that process and what was there about Reagan that caused him to deceive America?

[terrafirma91]

I would say Reagan was either following orders, repaying campaign contributors, or received a big, fat envelope stuffed with cash. American people have no say in government, contrary to what we're taught. Its become a government from the top on down.

[Hydra773]

Thats right! everyone who runs the world is a sociopath! thats why you all need to give ME THE POWER, let me be your leader! i will set the world right with my absolute power, i will bring change and peace and hope! I will be your leader.

[terrafirma91]

@Hydra773: Okay! You have my vote. We need an authoritarian leader like Hydra773, and I'll be your first supporter.

[TheHighwaytoHell]

True. And corporations in general behave like sociopaths, so it's hard to tell if it's the corporate structure that's simply encouraging such behavior from people who would otherwise be more...can we say human?

[terrafirma91]

@TheHighwaytoHell: Perhaps this is why the American economy is in the toilet, and young adults haven't sufficient job opportunities: Why should the people be enslaved to the economy, (Wall Street, the Fed)? The economy should serve the people. The entire structure has been turned upside down via small, successive incremental changes.

[STMAX31]

Hitler ordered OTHER PEOPLE to kill jews. And no, i'm not defending Hilter, he was a piece of shit. So are Skilling AND Lay, they both know what they were getting themselves into and they ruined other people`s lives and it even led to Cliff Baxter`s suicide. Skilling deserves all 24 years of his sentence. Too bad Ken Lay didn`t live long enough to do his time.

Another piece of shit they should go after is Lou Pai. F*cking apalling that someone would stick up for these morons.

[xChRoMaTiCx820x]

i know skilling is a fucking piece of shit... but what im trying to say is this is NOTHING compared to what fritzl and hitler did... think about it

stealing peoples money or... killing millions of people or imprisoning and raping your daughter for 24 years... you tell me whats more sickening

[salvadory]

@exenrontexas hang them for treason!!! Send a message!

[wheezerina]

did anyone notice the jackass over Skilling's right shoulder? He is making faces the entire time. you can totally see that he is thinking as skilling is talking. Its kinda funny.

I wonder who's side he's on considering it looks like he's sitting at Skilling's table.

[rghm]

Uhm - yeah, that's why I posted it. He's Kyle Pope. Click on "(more info)" at the top-right for, well, more info.

When I watched the hearing live on CSPAN, he'd caught my attention in the earlier, morning session - in the same seat, while the Arthur Anderson rep was testifying in defense of Anderson's standard accounting practices.

Throughout that testimony Kyle nodded his head in approval several times as the Anderson rep made his points. Google his name, you'll get a couple results.

[colrick1234]

Rep Markey what about that piece of shit ''coward'' Barney Frank and Chris the cock head Dodd. Bush buddy Lay is dead & this piece of greedy shit is in jail.Maybe he will leave soon? God is not mocked

[3L3CTR0static]

The empire strikes back, if you fuck with the government you are in trouble ;)

[sevenflatnine]

Must have been pure coincidence that he cashed in his shares for $270 million - a year before the shit hit the fan. Yeah, must've been a coincidence....

[BrianASoto]

donhenri - If you mean Skilling, yeah, he's so smart he's currently serving 24 years in Federal prison.

[donhenri]

This guy is fucking smart let's leave it at that.

[odette12321]

apparently...not that smart.

[shinrion]

Why are these women laughing with her arms crossed. it makes me feel upset..

[odette12321]

i thought the same thing...its kind of annoying.

[Pa2nzer4elli]

very interesting

[popsek]

What an amazing time that was. The fact that Enron got away with what it did. Now that French bank scandal just might beat the Enron scandal.

[julioigna71]

French bank situation is completely different from Enron case....