I believe that they had determined the capital markets were closed to Enron at this time.

I did not know enough to answer questions on the subject.

I'd like to answer the question.

I wish a lot of people had spoken up.

I recall Mr. Lay saying that liquidity was fine, and then he strengthened his statement to say that liquidity was strong.

He thought it was absurd, and that management should have been able to see this coming.

I observed events that I thought were wrong, so I did make a conclusion. I didn't make a conclusion that it was legal or illegal.

Acknowledgment and no reaction. I left the room because I felt really awkward.

Mr. Lay said liquidity was fine. Then he strengthened his statement and said, 'In fact, liquidity is strong.