Opening Arguments in the Trial of Ex-Enron Chiefs
On the opening day of the much-anticipated trial of Kenneth L. Lay and Jeffrey K. Skilling, lawyers for the government and the defense on Tuesday told a tale of two Enrons, portraying starkly different versions of why the energy company collapsed in late 2001. That Enron blazed a path to the summit of the energy world was not in dispute. In the 1990's, it was a Wall Street darling, the pride of an energy city and the creator of an industry that bought and sold natural gas, electricity and anything else its ambitious employees could dream up. But since its bankruptcy, Enron has come to symbolize the corporate malfeasance that infected so many American corporations in the 1990's.