Ben Gilbert: belief

Transcript context

…All the management fees, there are no expenses, they're just straight flowing to him. The real kicker—you're joking about this before the episode, and that should have told everybody where his real incentive lies—he decides to name the suite of funds, LJM Capital. What does LJM stands for? It stands for Lea, Jeffrey, and Matthew, which are the names of his wife and kids. There's no question who is benefiting from what is going on here, and it's not Enron. Unbelievable. There's the squirreliest, most circuitous route to trying to find disclosures on this. Whenever it's convenient to say so, there are claims that the board was fully on board with this. Whenever you're looking for the smoking gun, it's really difficult to find anyone's signatures or a discussion of this in the board minutes. It's especially difficult to find Jeff Skilling signature on anything, even though the whole agreement was Skilling will sign off as the final approver on (I think) deals, but definitely Fastow's compensation from this. There are documents that surface that have a variety of signatures on them, but not Skilling's. He very intentionally was like, I'm not actually going to sign off on this, but it's good for Enron that it happens, so I'm going to let it keep happening. It's good because these funds, this vehicle, everything that Fastow is now running can put up the 3% capital for this special-purpose entity. They don't need to involve any outside people in all of this.…

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