JUST ONE DAY AFTER LAY PROFESSED HIS CONFIDENCE IN THE CFO AT AN ALL-EMPLOYEE MEETING -- WHEN HE LEARNED ENRON'S BANKS WOULD ENGAGE IN NO NEW BUSINESS WITH THE COMPANY AS LONG AS FASTOW STAYED IN HIS JOB. FASTOW HAS PLEADED GUILTY TO TWO COUNTS OF CONSPIRACY AND AGREED TO COOPERATE WITH PROSECUTORS IN EXCHANGE FOR A 10-YEAR JAIL SENTENCE. LAY HAS BLAMED FASTOW, THE WALL STREET JOURNAL AND A GROUP OF PREDATORY INVESTORS FOR CREATING A "CLASSIC RUN ON THE BANK" THAT LED TO THE COMPANY'S DOWNFALL. AT THE CONCLUSION OF THE TRIAL, LAY WILL FACE A SEPARATE TRIAL ON HIS OWN ON FOUR CHARGES OF BANK FRAUD FOR HIS USE OF LOANS TO BUY STOCK ON MARGIN. AT LAY'S REQUEST, THAT CASE WILL BE HEARD BY A JUDGE, NOT A JURY.
