‘Bad Bets,’ Episode 3

Enron’s stock price rose astronomically in the late ’90s, buoyed by investor confidence in former Chief Executive Jeffrey Skilling —and by earnings reports that seemed to show Enron’s profits growing by leaps and bounds. But as we now know, those numbers were engineered by a man named Andy Fastow, Enron’s chief financial officer at the time.

In the third episode of our Bad Bets podcast, WSJ journalists John Emshwiller and Rebecca Smith take a look at Mr. Fastow and hear from the whistleblowers who exposed him and Enron’s financial engineering. Listen now.

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