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Enron: The Smartest Guys in the Room
Bankrupcy
The employees of Enron are given little time to gather their belongings once Enron filed for bankrupcy. Mr skilling, the CEO, is later interrogated by Senator Barbara Boxer for fraud. Senator Boxer accuses Jeffery Skilling of lying to his employees about the returns on Enron stocks. As Mr. Skilling was selling Enron stock, he continued to let his employees invest their 401k in Enron stock.
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Video Transcript
0:04
on December 2nd 2001 less than four months after skilling's resignation
0:10
Enron declared bankruptcy
0:13
I remember
0:16
it was just a strange kind of a surreal day
0:19
we learned
0:19
around 9:30 about the bankruptcy
0:22
and that we were all being let go
0:26
we all felt like we were
0:27
on the Titanic
0:29
and the
0:30
last lifeboats had long gone
0:32
and we were just now
0:34
on the sinking ship
0:37
we had 30 minutes to leave the building and at that point it was no longer
0:42
being on the Titanic
0:44
it was kind of like being
0:45
on the Lusitania
0:46
the torpedo it hit
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and there's 20 minutes to
0:50
to get out
0:54
there's a lot of disbelief
0:56
very few of the rank and file people ever dreamed that Emma would actually go bankrupt
1:07
and then all of a sudden it was like a ghost town
1:11
I can remember going
1:13
into the old building on certain floors
1:15
late in the afternoon or evening and
1:18
it was scary that'd be like papers blowing around and nobody there and
1:23
and it was it was just it was very eerie
1:31
mr. Skilling your opening
1:33
statement was extremely
1:35
compassionate to the employees
1:38
and I want to show you
1:39
a tape and I believe we have it ready to go
1:42
listen to this
1:44
we invest
1:45
all of our 401k and in like jock absolutely
1:53
why is it that you had to gun unloading your stock
1:57
pretty heavily
1:58
before that date and yet
2:00
led the employees the think they should keep buying stock
2:05
mr. Senator I have been a major
2:08
shareholder
2:09
in Enron Corporation and you can take the videotape to mean what you want it to mean
2:13
I was a supporter of Enron Corporation you know what happened to those people
2:17
they lost everything
2:18
I feel terrible
2:20
about what happened
2:21
to the employees
