Ex-Enron CFO Says He Helped Hide Losses

[brooklynite]

HOUSTON - Former Enron Corp. Chief Financial Officer Andrew Fastow testified Tuesday he ran partnerships designed to help the company mask as much as hundreds of millions of dollars in losses.

Fastow, 44, took the witness stand against former bosses Kenneth Lay and Jeffrey Skilling, whom federal prosecutors have accused of fraud, conspiracy and other charges in the spectacular collapse of Enron in 2001.

In the most highly anticipated testimony yet in the trial, he told jurors about a partnership, known as LJM1, set up in 1999 to help Enron "solve a problem" — that it was facing future losses from its investment in a small startup firm.

"We were doing this to inflate our earnings, and I don't think we wanted to show people what we were doing," Fastow said.

http://news.yahoo.com/s/ap/20060307/ap_on_bi_ge/enron_trial
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no fair drawing inferences...

[OldLeftieLawyer]

1. The defense

has been dreading Fastow's testimony.

This is what I've been waiting for.

Way to go, "Kenny-Boy."

How witless is the MSM if they find clever that nickname bestowed upon Lay by Fuckface? Do they really think "Kenny-Boy" is the height of clever?

Well, for Fuckface, it probably is.

Fastow's already made his deal, his wife's already served her time, and he is going to cook Lay's ass.

[0007]

9. Fastow may cook Kenny Boy's ass but junior is his hole card.

[OldLeftieLawyer]

10. I don't think so

Fuckface doesn't care. Lay is of no use to him any more, so he's cooked.

[0007]

12. Thought Mr. Lay was a good friend of the family?

I sure hope you're right.

[Ilsa]

2. Burn, baby burn. I hope they all spend a long time and are

stripped of their ill-gotten gains.

[Sadie5]

3. I'd like to see them in Gitmo!

Part of the orange jumpsuit crowd

[WhiteTara]

4. I hope for them a life of bad food

orange jumpsuits, lumpy mattresses, 100 thread count sheets and a light shining above their faces all night, every night for years to come.

[Ilsa]

5. And once a month toe nail and finger nail clippings. nt

[WhiteTara]

6. ewwww eck!

I forgot the shave for lice, head and balls. Such degradation for such arrogance.

[Pastiche423]

7. My hope is that they must give back

every cent they stole.

Do we have laws regarding off-shore account? Can we demand the monies that put in those accounts?

[corporate_mike]

13. Keep hoping

[0007]

8. I thought Fastow did a good job of putting a jacket on Skilling.

[Mountainman]

11. Fastow will get out after 10 years and get a talk show or some other

well paid job which supports the right in some way.