Enron's Skilling denies having anything to hide

[Judi Lynn]

April 17, 2006, 1:44PM
Enron's Skilling denies having anything to hide


By MARK BABINECK AND TOM FOWLER
Copyright 2006 Houston Chronicle

Federal prosecutor Sean Berkowitz began his much-anticipated cross-examination of former Enron Chief Executive Officer Jeff Skilling today by accusing him of using two years of painstaking preparation to "tailor" his testimony.

"I have nothing to hide, Mr. Berkowitz, so I don't think it's a question of tailoring testimony," Skilling said in his fifth day on the witness stand at his conspiracy and fraud trial.

Berkowitz, in part speaking to the jury, reminded Skilling he has had the chance to review reams of documents, huddle with attorneys and watch the testimony of every prosecution and defense witness before him before taking the stand last Monday.

The head of the Justice Department's Enron Task Force also chided Skilling, who acknowledged rigorous preparation for trial, for apparently not taking any written notes or sending any substantive e-mails during his tenure as a leader at the company.
(snip/...)

http://www.chron.com/disp/story.mpl/special/enron/3798285

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Jeff Skilling grilled by Enron prosecutor
Apr 17, 2006, 18:46 GMT

HOUSTON, TX, United States (UPI) -- A U.S. prosecutor began cross-examining Enron Corp.`s former chief executive Jeff Skilling Monday with a blistering attack on his character.

Prosecutor Sean Berkowitz noted an August 2001 whistleblower memo from account Sherron Watkins warning Enron founder Ken Lay that the company could implode in an accounting scandal.

Skilling, who left Enron around the same time as the Watkins memo, has testified that he did not know of the memo until months later. However, Skilling`s name is a prominent feature of the Watkins memo to Lay.

Berkowitz elicited numerous 'I don`t know' answers from Skilling when pressed on his claim of ignorance about the memo and the likelihood of an investigation into Enron`s shaky accounting.
(snip/...)

http://news.monstersandcritics.com/business/article_1156044.php/Jeff_Skilling_grilled_by_Enron_prosecutor

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Prosecution gets shot at Skilling
Posted 4/16/2006 11:09 PM ET

By Greg Farrell, USA TODAY
HOUSTON — For 10 weeks, the government's trial of former Enron CEOs Jeff Skilling and Ken Lay focused exclusively on what other people saw the men say and do when they ran the nation's seventh-largest corporation from 1999 to 2001.
That changed last week, when Skilling spent four days on the witness stand, offering his own version of what happened at Enron. Under questioning by his own attorney, Dan Petrocelli, Skilling denied every accusation thrown at him by the government's witnesses. As for incriminating statements attributed to him by those witnesses, he offered innocent interpretations.

Sean Berkowitz, chief of the Enron Task Force, begins his cross-examination of Skilling this morning. He is likely to explore some contradictions that emerged between Skilling's testimony and statements from the following government witnesses:

Vincent Kaminski: One 'cop' too many

Kaminski, a mathematics expert who worked in Enron's risk-assessment and control group (RAC), testified that Skilling came down to his office to ask him about the feasibility of implementing some complex financing structures, dubbed LJM and Raptor, that would help Enron hedge its position in Rhythms NetConnections, a highly volatile stock.

Kaminski said he hated the structures that Skilling proposed to him, which were eventually used to inflate Enron's earnings. After making his displeasure known, Kaminski was transferred out of RAC. Kaminski said Skilling explained the demotion by saying Enron "didn't need any more cops" in RAC.
(snip/...)

http://www.usatoday.com/money/industries/energy/2006-04-16-enron-analysis-mon_x.htm

[htuttle]

1. Wow -- Skilling actually said, "I have nothing to hide"

That means he definitely has something to hide.

[Warpy]

2. Well, when you hire a team of lawyers to find out how

you can stay within the letter of the law while violating its spirit entirely, you tend to be arrogant enough to think you can't be touched by that law.

They stopped listening to the lawyers eventually, though, and that's when they ran into trouble posting their profits while hiding their losses and debts in dummy offshore corporations.

Skilling will be left with enough for an opulent retirement after he leaves Club Fed in five years or so. There will be no justice from a conservative court system.

[Judi Lynn]

3. CNN: U.S. to Skilling: You think this is funny?

U.S. to Skilling: You think this is funny?
The former Enron chief's attempt at humor has fallen flat -- twice. He testifies that he "just wants the truth to come out."
By Shaheen Pasha, CNNMoney.com staff writer
April 17, 2006: 3:15 PM EDT


HOUSTON (CNNMoney.com)

~snip~
Skilling has made no secret that he believed the company's international businesses were underperforming. He blamed some of that weakness on the regulatory landscapes of foreign countries, and even joked with the jury that those governments created operating environments similar to California's regulatory environment.

"You think this is funny? You're smiling," Berkowitz asked harshly after Skilling made his crack. Skilling's smile vanished abruptly and he looked hesitant about how to answer.

"I think the regulatory environment in California wasn't different from the regulatory environment in Brazil," Skilling said.

"You've previously made fun of California," Berkowitz pressed on, referring to jokes Skilling made in the past about the state's troubled energy market.

Skilling replied: "The state of California was unfairly targeting Enron."
(snip/...)

http://money.cnn.com/2006/04/17/news/newsmakers/enron_trial/index.htm?cnn=yes

[Up2Late]

4. Fed Prosecutor Berkowitz took Skilling to the Woodshed today!

Fitz needs to produce or he may fall to 2nd or 3rd greatest Federal Prosecutor after yesterday! You should hear this report from Wade Goodwyn in Houston! Federal prosecutor Sean Berkowitz is giving former Enron CEO Jeffrey Skilling one h*ll of a thrashing! :evilgrin: :applause:

Prosecutors Grill Skilling on Enron Debacle

Listen to this story... by Wade Goodwyn and Melissa Block

All Things Considered, April 17, 2006 ·
Federal prosecutors begin their cross-examination of
former Enron CEO Jeffrey Skilling over his role in the
collapse of the company. The government accuses Skilling of
orchestrating fraud and conspiracy that led to one of the largest
bankruptcies in U.S. history.

<http://www.npr.org/templates/story/story.php?storyId=5346792>

Plus, Former Illinois Gov. George Ryan is convicted of racketeering and fraud! Guilty on ALL charges!

I now know Fitz was involved with this case too! <http://www.npr.org/templates/story/story.php?storyId=5346795> :applause: