Enron Warned In 1999

Way back in 1999 he became concerned about the off-balance sheet partnerships which eventually led to the downfall of the former energy giant. Dr Kaminski was initially asked by former Enron chief Jeff Skilling to undertake some risk assessment work on the partnerships. His researchers apparently did not like what they saw and viewed them as bad for the corporate. The deals went forward and the research was ignored.

Kaminski is also believed to have told former Enron chairman Kenneth Lay in a meeting last October that the partnership arrangements were 'terminally stupid' and 'improper'. He also tried to pass on his concerns to officials at Arthur Andersen LLP at the same time and is thought to have been told to back off by senior Enron personnel.

Kaminski joined Enron in 1992 and is considered a 'brilliant', 'honest' and 'honorable' man. It will no doubt not be too long before he is called to testify publicly before congressional investigators.