© 2024 Michigan State University Board of Trustees
Public Media from Michigan State University
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
TECHNOTE: 90.5 FM and AM870 reception

Prosecutors Grill Lay on Enron Short-Selling

Prosecutors challenge Enron founder Kenneth Lay's testimony that short-sellers were partly to blame for the company's collapse in 2001. As proof, lawyers showed that Lay's own son bet Enron's stock would drop.

Lay and former Enron Chief Executive Jeffrey Skilling have contended that short-sellers mounted a concerted attack on Enron stock that helped drive it into bankruptcy. Investors sell a stock "short" when they believe its value will go down.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Wade Goodwyn is an NPR National Desk Correspondent covering Texas and the surrounding states.
To help strengthen our local reporting as WKAR's fiscal year ends, we need 75 new or upgraded sustainers by June 30th. Become a new monthly donor or increase your donation to support the trustworthy journalism you'll rely on before Election Day. Donate now.