Enron Update

  • Playlist
  • Download
  • Embed
    <iframe src="" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Peter Overby reports that a lawyer for Enron Chairman Kenneth Lay says Lay did not sell large blocks of company stock because he lost faith in his own company, but because he needed to raise money to pay off debts. The lawyer, in an interview with The New York Times, said Lay had used his stock as collateral on loans. As Enron's stock plunged, he had to sell because the collateral was worth less. There are now 10 Congressional panels looking into the Enron debacle. The first of many hearings gets under way on Thursday.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from