“I have not lied to Congress ... I never duped (Enron chairman) Ken Lay” on his part in the financial transactions backstopped by Enron stock, he said with a growing edge to his voice. “I have nothing to hide.”
“I will not respond to all the outrageous things said about me,” he added, in reference to lawmakers skeptical comments questioning the truth of his previous testimony and accusations that he was stringing people along.
“Things don’t just happen,” challenged Senator John Breaux.
Skilling was one of three top Enron employees called to testify before lawmakers and the US public as to what they knew of the energy company’s financial structures before it became the biggest bankruptcy in US corporate history.
Sitting to Skilling’s right, separated only by a lawyer, was Sherron Watkins, the Enron whistle-blower, who has fingered Skilling as being in the know about the problematic Raptor special purpose financial entities.
“In my opinion, Mr Skilling was aware of the problems,” she said in the measured tones that have characterized her testimony. “He did always look to the market at the checkpoint, the rationale, to do what we were doing.”
In January, 2001, Enron reported soaring profits and shares in the company reached 82 dollars. By December 2, that stock had become practically worthless, and the company crumpled, leaving thousands unemployed and wiping out the investments of thousands more.
Focussing on what Senator Olympia Snowe called “the plausibility gap between the facts that we know and the assertions that have been made,” lawmakers of the Senate Commerce committee grilled Skilling, Watkins and Jeffrey McMahon, Enron current president and chief operating officer.
In her strongest accusation to date, Watkins also put the blame on Enron’s messy demise on the former chairman — who has refused to testify before Congress.—AFP