The Enron Smoking Gun

It’s one thing to read the following news lead in USAToday:

An Enron financial official raised alarms about the company’s precarious finances in August, two months before the energy-trading giant acknowledged publicly that it was in trouble. In a letter to CEO Kenneth Lay, she wrote: “I am incredibly nervous that we will implode in a wave of accounting scandals.” The prescient seven-page letter, unearthed by House investigators, showed that Lay was aware of concerns about the company’s financial problems at about the same time that he was reassuring employees by e-mail: “I have never felt better about the prospects for the company.”

It’s another to see an actual scan of the letter itself. Ten times more powerful.

Now we know what they knew and when they knew it.

[Thanks to Chris Worth for passing this along.]

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