Andrew Fastow

And you may or may not find out about it until later.

And of course, that was the end of Enron and, you know, the death of Ken Lay and Andrew Fastow went to jail and so forth.

By the way, I talked to Andrew Fastow about that.

This is in the article I wrote.

So you've got the same issue with agents that you do with people.

[laughs]

And, you know, you don't have to be, you know, like, you know, like a Lex Luthor or like a, a f- what's f- was it Fastow, the guy from Enron? You know?

Oh, wow.

Yeah.

I know by now we know that Enron was an accounting scandal.

But I'm convinced that in 1999, if you walked into Andy Fastow's office, and Andy was the CFO of Enron, and asked him, how much money does Enron owe? he wouldn't have been able to give you the answer.

Because what they'd done was create special purpose entities.

That's how they created the separation to borrow the money.

Next, February 7th, 2002, a House Oversight and Investigation Subcommittee, several Enron witnesses that day.

First, former CFO Andrew Fastow.

The chairman, Republican Congressman Jim Greenwood.

Mr. Fastow, you were the CFO of a Fortune 10 company, a full-time job to be sure.

Let me take you back and remember Enron.

To reduce its balance sheet debt levels, Enron created special purpose vehicles that were owned, get this, by the company's CFO, Andrew Fastow.

That's right, Enron transferred billions in debt to an entity owned and controlled by the company's own CFO.

You can't make this up.

Prior to the scandal breaking, I remember reading Enron's ten Q, where all this was completely disclosed, and wondering how the auditors could allow this nonsense.

that?Well, as it turns out, uh, it was mainly the, um, CFO

He was senior executive at Enron throughout all this.

And what he did is he created a company called LJM.

What they did, and they did this repeatedly, I think they did it twice, they voted to suspend the word integrity-

They suspended it

... from their code of ethics so that Andrew Fastow, the CFO, could legally run the LJM partnerships.

So they literally just went, "Oh, okay.