The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron

by Bethany McLean

on Wall Street you are known by the people who choose you to do their business,

He saw everything in terms of split-second economics; if he couldn’t buy or sell something right this second, it seemed to have no value to him.

Whalley had the trader’s ability to strip his decision-making of all emotional content, which he viewed as noneconomic.

late 2000, he told the audience that companies like the newly formed ExxonMobil “will topple over from their own weight.”

Later in that same meeting, Cindy Olson, who ran human resources, took the podium to answer questions. One written on a card was handed up to her. “Should we invest all of our 401(k) in Enron stock?” she read. She looked up at the auditorium full of employees and replied, “Absolutely! Don’t you guys agree?” She smiled at Lay and Skilling. The whole room laughed appreciatively. “You’re doing good,” Skilling said with a grin. •

About this time, she also called a friend in Global Finance. “Enron’s going down,” she announced: “Andy and Causey are going to jail.”