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Clips from Enron: The Smartest Guys in the Room (2005)

no one was more aggressive than the traders.

"no one was more aggressive than the traders."

Enron: The Smartest Guys in the Room (2005)

If I'm on the way to my boss's office

"If I'm on the way to my boss's office"

Enron: The Smartest Guys in the Room (2005)

talking about my compensation.

"talking about my compensation."

Enron: The Smartest Guys in the Room (2005)

And if I step on somebody's throat on the way

"And if I step on somebody's throat on the way"

Enron: The Smartest Guys in the Room (2005)

that doubles it?

"that doubles it?"

Enron: The Smartest Guys in the Room (2005)

Well, I'll stomp on the guy's throat.

"Well, I'll stomp on the guy's throat."

Enron: The Smartest Guys in the Room (2005)

You know, that that's how people were.

"You know, that that's how people were."

Enron: The Smartest Guys in the Room (2005)

On the trading side we got to be the biggest,

"On the trading side we got to be the biggest,"

Enron: The Smartest Guys in the Room (2005)

baddest house in town.

"baddest house in town."

Enron: The Smartest Guys in the Room (2005)

And by necessity,

"And by necessity,"

Enron: The Smartest Guys in the Room (2005)

if you wanted to be in the market,

"if you wanted to be in the market,"

Enron: The Smartest Guys in the Room (2005)

you had to deal with Enron.

"you had to deal with Enron."

Enron: The Smartest Guys in the Room (2005)

Enron's traders were like the super powerful high school

"Enron's traders were like the super powerful high school"

Enron: The Smartest Guys in the Room (2005)

clique that even the principal doesn't dare to reign in.

"clique that even the principal doesn't dare to reign in."

Enron: The Smartest Guys in the Room (2005)

They had become the major engine of

"They had become the major engine of"

Enron: The Smartest Guys in the Room (2005)

at least reported profits at the company.

"at least reported profits at the company."

Enron: The Smartest Guys in the Room (2005)

They took Jeff Skilling and Ken Lay's belief in free markets

"They took Jeff Skilling and Ken Lay's belief in free markets"

Enron: The Smartest Guys in the Room (2005)

and turned it into an ideology.

"and turned it into an ideology."

Enron: The Smartest Guys in the Room (2005)

But they pitch it almost as a new economic religion.

"But they pitch it almost as a new economic religion."

Enron: The Smartest Guys in the Room (2005)

Enron on-line will change the markets

"Enron on-line will change the markets"

Enron: The Smartest Guys in the Room (2005)

for many many commodities.

"for many many commodities."

Enron: The Smartest Guys in the Room (2005)

It is creating an open transparent marketplace

"It is creating an open transparent marketplace"

Enron: The Smartest Guys in the Room (2005)

that replaces the dark blind system that existed.

"that replaces the dark blind system that existed."

Enron: The Smartest Guys in the Room (2005)

It is real simple.

"It is real simple."

Enron: The Smartest Guys in the Room (2005)

You turn on your computer and it's right there.

"You turn on your computer and it's right there."

Enron: The Smartest Guys in the Room (2005)

That's our vision.

"That's our vision."

Enron: The Smartest Guys in the Room (2005)

We're trying to change the world.

"We're trying to change the world."

Enron: The Smartest Guys in the Room (2005)

I think Jeff Skilling had a desperate

"I think Jeff Skilling had a desperate"

Enron: The Smartest Guys in the Room (2005)

need to believe that Enron was a success.

"need to believe that Enron was a success."

Enron: The Smartest Guys in the Room (2005)

I think he identified with Enron.

"I think he identified with Enron."

Enron: The Smartest Guys in the Room (2005)

He proclaimed, at one point,' I am Enron'.

"He proclaimed, at one point,' I am Enron'."

Enron: The Smartest Guys in the Room (2005)

The other thing about people at Enron is,

"The other thing about people at Enron is,"

Enron: The Smartest Guys in the Room (2005)

a lot of them were former nerds and including Jeff Skilling.

"a lot of them were former nerds and including Jeff Skilling."

Enron: The Smartest Guys in the Room (2005)

He had been paunchy. He had big glasses.

"He had been paunchy. He had big glasses."

Enron: The Smartest Guys in the Room (2005)

He was losing his hair.

"He was losing his hair."

Enron: The Smartest Guys in the Room (2005)

And Jeff Skilling one day kinda woke up

"And Jeff Skilling one day kinda woke up"

Enron: The Smartest Guys in the Room (2005)

and decided to change himself.

"and decided to change himself."

Enron: The Smartest Guys in the Room (2005)

And he started working out, lost a lot of weight.

"And he started working out, lost a lot of weight."

Enron: The Smartest Guys in the Room (2005)

But he really did remake himself

"But he really did remake himself"

Enron: The Smartest Guys in the Room (2005)

through sheer will and force of personality.

"through sheer will and force of personality."

Enron: The Smartest Guys in the Room (2005)

When Jeff got Lasik on his eyes, everybody at Enron got Lasik,

"When Jeff got Lasik on his eyes, everybody at Enron got Lasik,"

Enron: The Smartest Guys in the Room (2005)

so nobody was wearing glasses.

"so nobody was wearing glasses."

Enron: The Smartest Guys in the Room (2005)

I think Jeff Skilling is really a tragic figure,

"I think Jeff Skilling is really a tragic figure,"

Enron: The Smartest Guys in the Room (2005)

in a classic sense of the word.

"in a classic sense of the word."

Enron: The Smartest Guys in the Room (2005)

He's a guy that people describe as incandescently brilliant.

"He's a guy that people describe as incandescently brilliant."

Enron: The Smartest Guys in the Room (2005)

But he's also a guy who is radically different

"But he's also a guy who is radically different"

Enron: The Smartest Guys in the Room (2005)

than he at times portrays himself.

"than he at times portrays himself."

Enron: The Smartest Guys in the Room (2005)

He's portrayed himself as somebody who has

"He's portrayed himself as somebody who has"

Enron: The Smartest Guys in the Room (2005)

very tightly-monitored risk. In reality, he's a gambler.

"very tightly-monitored risk. In reality, he's a gambler."

Enron: The Smartest Guys in the Room (2005)

He gambled away huge sums of money before he was 20 years old,

"He gambled away huge sums of money before he was 20 years old,"

Enron: The Smartest Guys in the Room (2005)

by making wild bets on the market.

"by making wild bets on the market."

Enron: The Smartest Guys in the Room (2005)

To Jeff Skilling, risk was glamorous.

"To Jeff Skilling, risk was glamorous."

Enron: The Smartest Guys in the Room (2005)

He was a huge risk taker.

"He was a huge risk taker."

Enron: The Smartest Guys in the Room (2005)

He actually talked about wanting to go on trips that

"He actually talked about wanting to go on trips that"

Enron: The Smartest Guys in the Room (2005)

were so perilous that someone could actually die.

"were so perilous that someone could actually die."

Enron: The Smartest Guys in the Room (2005)

This manifested itself in trips that Jeff Skilling led

"This manifested itself in trips that Jeff Skilling led"

Enron: The Smartest Guys in the Room (2005)

for a small group of friends and customers.

"for a small group of friends and customers."

Enron: The Smartest Guys in the Room (2005)

A core cadre of Enron guys used to go on

"A core cadre of Enron guys used to go on"

Enron: The Smartest Guys in the Room (2005)

these wild adventures:

"these wild adventures:"

Enron: The Smartest Guys in the Room (2005)

Andy Fastow would go; Ken Rice would go.

"Andy Fastow would go; Ken Rice would go."

Enron: The Smartest Guys in the Room (2005)

The trips were legend.

"The trips were legend."

Enron: The Smartest Guys in the Room (2005)

You know, we can sit and think about what strange insecurities

"You know, we can sit and think about what strange insecurities"

Enron: The Smartest Guys in the Room (2005)

they were trying to overcome.

"they were trying to overcome."

Enron: The Smartest Guys in the Room (2005)

But it made them feel good as men.

"But it made them feel good as men."

Enron: The Smartest Guys in the Room (2005)

And they took a particularly memorable trip to the Baja

"And they took a particularly memorable trip to the Baja"

Enron: The Smartest Guys in the Room (2005)

twelve hundred miles of very rugged terrain in Mexico.

"twelve hundred miles of very rugged terrain in Mexico."

Enron: The Smartest Guys in the Room (2005)

This is a trip where people crashed bikes.

"This is a trip where people crashed bikes."

Enron: The Smartest Guys in the Room (2005)

Ken Rice was on the trip,

"Ken Rice was on the trip,"

Enron: The Smartest Guys in the Room (2005)

and he busted a lip and required a bunch of stitches.

"and he busted a lip and required a bunch of stitches."

Enron: The Smartest Guys in the Room (2005)

People broke bones.

"People broke bones."

Enron: The Smartest Guys in the Room (2005)

One guy flipped a jeep and almost got killed.

"One guy flipped a jeep and almost got killed."

Enron: The Smartest Guys in the Room (2005)

Those sorts of stories at Enron became legend.

"Those sorts of stories at Enron became legend."

Enron: The Smartest Guys in the Room (2005)

And it fed the whole macho culture of the place.

"And it fed the whole macho culture of the place."

Enron: The Smartest Guys in the Room (2005)

Jeff Skilling had a way of describing people that he liked.

"Jeff Skilling had a way of describing people that he liked."

Enron: The Smartest Guys in the Room (2005)

He said, 'I like guys with spikes.'

"He said, 'I like guys with spikes.'"

Enron: The Smartest Guys in the Room (2005)

He liked somebody with something extreme about them.

"He liked somebody with something extreme about them."

Enron: The Smartest Guys in the Room (2005)

Ken Rice was one of the Men with Spikes.

"Ken Rice was one of the Men with Spikes."

Enron: The Smartest Guys in the Room (2005)

He was the salesman of the group.

"He was the salesman of the group."

Enron: The Smartest Guys in the Room (2005)

Very amiable, fun, man's man.

"Very amiable, fun, man's man."

Enron: The Smartest Guys in the Room (2005)

And was the guy out selling deals to energy companies.

"And was the guy out selling deals to energy companies."

Enron: The Smartest Guys in the Room (2005)

In the case of Cliff Baxter, the company's chief dealmaker

"In the case of Cliff Baxter, the company's chief dealmaker"

Enron: The Smartest Guys in the Room (2005)

he was extraordinarily talented at just doing a deal.

"he was extraordinarily talented at just doing a deal."

Enron: The Smartest Guys in the Room (2005)

But he was a manic depressive.

"But he was a manic depressive."

Enron: The Smartest Guys in the Room (2005)

Baxter was a very bright guy,

"Baxter was a very bright guy,"

Enron: The Smartest Guys in the Room (2005)

very blunt would tell Skilling whatever

"very blunt would tell Skilling whatever"

Enron: The Smartest Guys in the Room (2005)

he thought was closest to Skilling, personally,

"he thought was closest to Skilling, personally,"

Enron: The Smartest Guys in the Room (2005)

than anyone else in the company.

"than anyone else in the company."

Enron: The Smartest Guys in the Room (2005)

There was a guy named Lou Pai,

"There was a guy named Lou Pai,"

Enron: The Smartest Guys in the Room (2005)

who was a key Skilling lieutenant;

"who was a key Skilling lieutenant;"

Enron: The Smartest Guys in the Room (2005)

helped build the trading business in the early years;

"helped build the trading business in the early years;"

Enron: The Smartest Guys in the Room (2005)

went on to run Enron's doomed

"went on to run Enron's doomed"

Enron: The Smartest Guys in the Room (2005)

effort called Enron Energy Services.

"effort called Enron Energy Services."

Enron: The Smartest Guys in the Room (2005)

What was the job of EES, as you ran it?

"What was the job of EES, as you ran it?"

Enron: The Smartest Guys in the Room (2005)

Ah, it was to sell energy services to end users,

"Ah, it was to sell energy services to end users,"

Enron: The Smartest Guys in the Room (2005)

industrial end users.

"industrial end users."

Enron: The Smartest Guys in the Room (2005)

Lou Pai is the guy that Skilling

"Lou Pai is the guy that Skilling"

Enron: The Smartest Guys in the Room (2005)

tapped to run the EES business.

"tapped to run the EES business."

Enron: The Smartest Guys in the Room (2005)

Because this was,

"Because this was,"

Enron: The Smartest Guys in the Room (2005)

this was so important to the company,

"this was so important to the company,"

Enron: The Smartest Guys in the Room (2005)

and to Skilling's future.

"and to Skilling's future."

Enron: The Smartest Guys in the Room (2005)

He called Lou Pai 'my ICBM.'

"He called Lou Pai 'my ICBM.'"

Enron: The Smartest Guys in the Room (2005)

And Lou Pai dispatched his enemies

"And Lou Pai dispatched his enemies"

Enron: The Smartest Guys in the Room (2005)

with incredible skill.

"with incredible skill."

Enron: The Smartest Guys in the Room (2005)

And if that meant leaving bodies behind him,

"And if that meant leaving bodies behind him,"

Enron: The Smartest Guys in the Room (2005)

Skilling was certainly fine about that.

"Skilling was certainly fine about that."

Enron: The Smartest Guys in the Room (2005)

I'm not feeling anything.

"I'm not feeling anything."

Enron: The Smartest Guys in the Room (2005)

Lou Pai was kind of a mysterious figure.

"Lou Pai was kind of a mysterious figure."

Enron: The Smartest Guys in the Room (2005)

He was kind of like the invisible CEO.

"He was kind of like the invisible CEO."

Enron: The Smartest Guys in the Room (2005)

For awhile he was located on the 7th floor.

"For awhile he was located on the 7th floor."

Enron: The Smartest Guys in the Room (2005)

And there's a long office.

"And there's a long office."

Enron: The Smartest Guys in the Room (2005)

And it was all glass-enclosed, and you would walk by there,

"And it was all glass-enclosed, and you would walk by there,"

Enron: The Smartest Guys in the Room (2005)

and it was just almost all the time it was empty.

"and it was just almost all the time it was empty."

Enron: The Smartest Guys in the Room (2005)

Details didn't interest Lou Pai.

"Details didn't interest Lou Pai."

Enron: The Smartest Guys in the Room (2005)

Only two things seemed to motivate Pai

"Only two things seemed to motivate Pai"

Enron: The Smartest Guys in the Room (2005)

money and a peculiar fascination with strippers.

"money and a peculiar fascination with strippers."

Enron: The Smartest Guys in the Room (2005)

For Pai, it was all about the numbers.

"For Pai, it was all about the numbers."

Enron: The Smartest Guys in the Room (2005)

He was there every night after work

"He was there every night after work"

Enron: The Smartest Guys in the Room (2005)

and he usually brought some of the traders along with him.

"and he usually brought some of the traders along with him."

Enron: The Smartest Guys in the Room (2005)

He spent quite a lot of money there as well.

"He spent quite a lot of money there as well."

Enron: The Smartest Guys in the Room (2005)

Much of it charged to the Enron expense accounts.

"Much of it charged to the Enron expense accounts."

Enron: The Smartest Guys in the Room (2005)

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