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END RUN AT ENRON.

The New Yorker

| October 27, 2003 | Toobin, Jeffrey | COPYRIGHT 2003 All rights reserved. Reproduced by permission of The CondÃ© Nast Publications Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

In the recent era of corporate scandals, Enron remains the archetype. Toward the end of 2001, in little more than a month, the Houston energy trader went from being the seventh-ranked company on the Fortune 500 to a bankrupt shell. In response, the federal government launched what may be its most intensive white-collar criminal investigation. Among the principal targets were the leaders of Enron, including the former chairman, Kenneth L. Lay, and the former chief executive, Jeffrey K. Skilling. Ten thousand of their subordinates lost their jobs, along with an estimated $1.2 billion in retirement savings, yet in the last year of Enron's existence Lay cashed in about a ...

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