Fastow's lair where LJM has been fully and complexly constructed, like a large, supportive web.
Among the shadows there are strange movements going on. The Raptors scuttle about. Not entirely human sounds. In the centre, Fastow.
The tiny red box is safely put away, buried. We can see it throb. The Raptors creep eerily around in the shadows.
Skilling enters. The Raptors hide.
Skilling Andy? Is everything right down here?
Fastow Jeff! Everything's peachy.
Skilling This place has got big.
Fastow You won't believe the investment I got us. You wanted LJM to look official. Well, I've got fifteen million from J.P. Morgan, ten million Credit Suisse, five million from Merrill, everyone wants in with LJM –
Skilling Everyone wants to invest in our shadow …? Why?!
Two more figures emerge from the shadows: it is the Lehman Brothers.
Lehman Brothers Hey, Mr Fastow!
Fastow Oh, wait a second – it's the fucking Lehman Brothers. What do you guys want?
Lehman Brothers We were wondering –
Fastow I'm busy here, what the fuck d'you want?
Skilling That's one of the biggest investment banks in the world. You can't talk to them that way!
Fastow No, but that's the thing, Jeff. I can! They're all so desperate to be seen alongside Enron. And who's Enron's CFO? Check it out.
Lehman Brothers We were in talks about doing some underwriting work for Enron.
Fastow For Enron?
Lehman Brothers Yeah, we were hoping you'd consider giving us the contract –
Fastow Way I see it, if I give you a contract worth tens of millions of dollars, least you can do is invest in a side project I got going on. Course Enron could always take its business elsewhere –
Lehman Brothers No, no, no, Andy, we heard. What you looking for?
Fastow Let's start small, how 'bout ten million?
Lehman Brothers Ten million! Everyone up at Enron OK with this, Jeff?
Skilling What you asking me for?
Lehman Brothers I mean, we assumed it was fine.
Skilling You got a problem with LJM?
Lehman Brothers Not at all.
Skilling You got a problem with Andy?
Lehman Brothers Well, he's got a certain –
Skilling You do, you got a problem with me.
Lehman Brothers No sir. Absolutely not. LJM's a real ground-breaking strategy.
The Lehman Brothers give Fastow the money.
Lehman Brothers Nice doing business.
Fastow Good job, fellas!
Skilling Hey, Lehman Brothers!
The conjoined figures struggle to turn round in unison, both pulling in opposite directions. Eventually, they manage it.
Lehman Brothers Yeeees?
Skilling What's your analyst rating our stock at?
Lehman Brothers Uh, Buy –
Skilling Not Strong Buy?
Lehman Brothers Not right … now.
Fastow Let me.
Skilling nods graciously.
Fastow If you rated us Strong Buy, more people would invest in Enron, right?
Lehman Brothers I guess …
Fastow And if more people invest in Enron, we can finance more projects, which makes Enron stronger and therefore –
Lehman Brothers Making it a / Strong Buy …
Fastow / A Strong Buy! See how it makes sense now?Now, get the fuck out before I change my mind.
The Lehman Brothers slink out.
Skilling I can't believe it. Everything upstairs is bullshit compared to this.
Fastow I know! I think we've found the future of business … by accident.
Skilling But where does all the debt go?Sounds from the shadows.What's that?
Skilling What is it?
Fastow Don't worry about it.
Skilling What the fuck is this?
Skilling goes to explore. One of the Raptors approaches Skilling to check him out. It smells him cautiously.
Fastow The Raptors. You like 'em? They like you.
Skilling That's where the debt goes?
Fastow These sort of entities, we could never have them publicly at Enron, but LJM doesn't need to show its books. So we can … experiment here.
He feeds one of them a dollar bill.
Skilling They're consuming our debt.
Fastow Yes! And debt's just money. All money is debt.
Skilling In … what … sense?
Fastow If the bank gives you money, you owe them. You put money in the bank, they owe you.All money is debt. It's just how you present it.
The Raptors gain confidence at this and play with Skilling a little.
Skilling Go on.
Fastow OK. Well, this one here, is dealing with Broadband. This one's taking care of Video On Demand while we set it up. And that one … that one's consuming all the fucking debt coming out of that rusting hulk of a power plant in Dabhol.
Skilling That plant has no fucking power coming out of it.It's surrounded by protesters. When Claudia makes a deal it doesn't just lose money, people march against it.
Fastow You gotta put a stop to all that.
Skilling She thinks her balls are cut off, what about my balls?!
Fastow A man's got a right to his balls.
Skilling This is the future. Not Claudia and her gift from grampa. Ken's gotta accept it's my show!
Fastow He has to.
Skilling You think her numbers are right?
Fastow Her division's numbers?
Skilling Yeah. You think she's doing anything … untoward?
Fastow I'd be surprised if there was nothing untoward. I mean, everybody … you know.Beat.You want me to take a look?
Skilling If you have cause for concern.
Fastow Well, sure, I mean. I can tell clever numbers. I'm the king of 'em!
Skilling strokes a Raptor.