enron, the old enron, the enron that everybody wrote about, cared about, in some ways was no more.it was a ghost, a corpse. i don't know if this is kid? but i know there's a number of people to sit enron, partly because they wanted to get a paycheck. they needed a job. having enron on your resume wasn't exactly getting you recruiters knocking on your door. so that was i supposed another issue for some people, but it really was a different, you know, entity. it wasn't going to be borrowing any more money from people. it wasn't going to be selling any more stock. it wasn't going to be do any of the things that it did in that incredible run it had for essentially 15 years. >> you brought up the legal team being part of public relations, and then broadcast images. how has come in your view, public relations changed with something like this? because, in terms of sarbanes-oxley come into play and public companies, and now with the media kind of been, anybody can do video's and stuff, it's not just in your control anymore. like how has public relations changed? >> when this happened, ther

i mean, enron, the old enron, enron that everyone wrote about and cared about in some ways was no more was a ghost, a corpse. i don't know if this is karen's case but another a number of people who say that enron partly they want to get a paycheck. they needed a job. having anyone on your resume wasn't exactly giving you recruiters knocking on your door. so that was i supposed another issue for some people, but it really was a different, you know, entity. it wasn't going to be borrowing any more money from people. it wasn't going to be selling more stuff but it wasn't going to be doing anything, the things that it did in that incredible run a data for essentially 15 years. >> other question? >> you brought up the legal teams being part of public relations, and then do not to broadcast images. in your view, public relations changed with something like this? because in terms of sarbanes-oxley come into play and public companies, now with media kind of con anybody can do videos and such. it's not in your control anymore. how has public relations change? >> when this happened there weren't

and the seeds of enron were sown in the 90s. i was in the job about four weeks when enron exploded. we took effective action and set records for enforcement action. but i was even more proud of our ability to help people understand what they had to disclose and how to disclose things, which i think is part of smarter regulation. >> susie: let me ask you, now that some years have passed, is there anything you would have done differently so that we might have been able to prevent the financial crisis of the last couple of years? >> i think there are things we could have done. we needed a better regulatory system. the current regulatory system is antiquated and outmoded, regular it's people based on -- regulates people on what they were born as. and we have a 300 page statute i that is full of all sorts of unintended consequences. they were very simple things that we needed to do, and could have done, and still should be doing. >> susie: like what? >> well, first, make sure that everyone who takes money from the public for investment purposes or has an effect on our capital or financia

sherron watkins was the enron vice president who alerted then- c.e.o. ken lay of accounting irregularities at the energy giant. >> tom: here's what we're watching for tomorrow: jobs-- specifically how many the economy lost or gained. we'll find out from the labor department's november employment report. and tomorrow's market monitor is looking for strength in consumer spending. he's james paulsen, chief investment strategist at wells capital management. >> susie: raj rajaratnum has been ordered to begin his prison sentence on monday. a judge denied the convicted hedge fund manager's request today to remain free while he appeals his conviction and 11- year prison sentence. that's the longest term ever imposed in an insider trading case. lawyers argued that rajaratnam is not a flight risk, but prosecutors and the judge disagreed. >> tom: 13 people face charges in connection with a year-long federal investigation into micro-cap stocks. these are stocks of companies with market values usually under $100 million. the defendants include corporate officers, la

she was enron's vice president for corporate development and warned enron's top executives that there were misstatements and otr shenanigans in the company's financial reports. known as "enron's whistleblower," watkins was selected by "time" magazine as one of its "persons of the year" cover in 2002. as we continue our series "enron-- 10 years later," we talk with sherron watkins. sherron, thank you so much for joining us tonight. we really appreciate your presence here. lots to ask you. let me just begin by asking. you have had ten years to reflect on this spectacular collapse of enron. what do you think was really the key reason behind the collapse? >> well, i actually think it's an excessive use of stock options. that when all the employees and the top executives are fearful about the stock price declining, you start really gambling the company. you take on excessive risk when you really just cannot see a stock price decline. >> what do you think now of all this talk to repeal share babs oxley. the view is-- share bains observationly. the view is that all these views and all these

a discussion on enron is next.d the senate is in at 10 eastern and will consider the nomination of caitlin joan heir michigan to be a circuit judge for the district of columbia. live senate coverage here on c-span2. >> former senator arlen specter who advocates allowing cameras in the supreme court will testify today. he introduced legislation in 2010 mandating the supreme court televises proceedings. that hearing gets underway at 10 a.m. eastern on c-span3. and later, a hearing examining the proposed merger between the pharmacy companies express scripts and medco health solutions. the panel will look at antitrust concerns over the merger. live coverage begins at 2:30 eastern. >> it's so convenient to listen to c-span anytime, anywhere with the free c-span radio app. you get streaming awd audio of c-span radio as well as all three television networks 24/7. you can also listen to our news programs. c-span, it's available wherever you are. find out more at c-span.org/radio app. >> next, a look at the tenth anniversar

as we've been saying on the show really is worth less than zero and one day it will go the way of enron and wake up in the stock prices as a row in light of all of this hyper hypothecation happening by j.p. morgan and then the next headline max j.p. morgan chase is jamie diamond strikes back populist anger so to speak here in the united states he was speaking at a goldman sachs sponsored event and he said acting like everyone who's been successful is bad and that everyone who is rich is bad i just don't get it so with that though he sounded an awful lot like somebody else from history al capone out of poland in one nine hundred twenty seven said i'm going to st petersburg florida tomorrow let the worthy citizens of chicago get their liquor the best they can i'm sick of the job it's a thankless one and full of grief i've been spending the best years of my life as a public benefactor oh absolutely jamie diamond has been the drug dealer and liquor provider in king for a number of years and now he's complaining he said the strong out drunk and

enron became the corporate -- poster child for corporate greed 10 years ago today. i'm shepard smith. they meant well. i mean

enron became the corporate -- poster child for corporate

morgan is like enron one day to wake up it'll be worth zero in order to stop that from happening two weeks ago as it almost did two weeks ago zero j.p. morgan stock price they wanted to m.f. global accounts one hundred forty thousand of them they took to so many other commodities and just stole them that's their that's their response to their criminality and why they got away with it for national security there was a brief headline that they might possibly face consequences i don't think it's real but this is from zero hedge j.p. morgan stop breaks down on news companies roll as if little lender to be productive so they post a picture of a bloomberg headline morgan actions as a list lender likely to be proof says liquidator and as you see this is a nice chart of the players and j.p. morgan share price but the liquidator of the and the slope brokerage said that certain actions of j.p. morgan a lender to the brokers parents are likely to be the subject of investigation but max if you look at this chart if felt less than three percent whereas goldman sachs fell over three percent at the

remember what happened over at enron a few people wanted to gel one of the i think i was the chairman blows brains out the so we have something to hope for let me just say that they were really hypothecation and hypothecation is going to be as important going forward as they were special purpose entities account every member and ron had over seven hundred special purpose entities accounts or they had all the dead bodies of their balance sheet we don't hear about those anymore value about hypothecation real papa cash on the infinite hypothecation through the bowels of the regulatory nonexistent city of london of course all leading to a j.p. morgan stock price of zero and then if there's any justice this like jeff skilling going to jail and the chairman a blow his brains out now speaking of bankers max i have this headline here beggars cost each one of us eight pounds forty for every pound they produce studies show so bankers can to day be exposed as a huge drain on society costing the rest of us eight pounds forty for every pound they produce a study by say ten new economics foundation

. >> if i had enron stock, it's worth nothing. dot com stuff, worth nothing. these are still worth a penny. so, it might seem odd or strange, but they're worth at least a penny and maybe some day a lot more. >> reporter: if the law is changed, a penny saved, many times over, could be a whole lot earned. i'm neal karlinsky for "nightline" in portland, oregon. >> penny hoarders. thanks to neal karlinsky for that. >>> next up, these people clearly all got the memo. but what on earth did it say? we crash the party. [ knock on door ] cool. you found it. wow. nice place. yeah. [ chuckles ] the family thinks i'm out shipping these. smooth move. you used priority mail flat rate boxes. if it fits, it ships for a low, flat rate. paid for postage online and arranged a free pickup. and i'm gonna track them online, too. nice. between those boxes and this place, i'm totally staying sane this year. do i smell snickerdoodles? maybe. [ timer dings ] got to go. priority mail flat rate shipping at usps.com. a simpler way to ship. confidence. available in color. depend for women

country's bid for a third try and since two thousand and eight by defeating arjun time one minako enron once opening rubber on friday the spaniard dominating all except losing just the four games i see help this country claim a one zero lead so well as compared to a david fers currently off against juan martin del potro in the second singles rubber a set up piece in the one with the score very close in the third as well as spain with a total of four titles while argentina have never won it all finishing rochelle. moving stateside on to the n.f.l. with the stuffing philadelphia eagles have sunk and even further down the standing seattle's marshawn lynch entering what he refers to as beast mode with the running back earning the seahawks to an easy win on thursday the twenty five year old showing the philadelphia defense exactly what he meant with his choice of description lynch disappearing into the pile with me for an instant finishing off a fifteen yard run to the scoring bench not visiting the end zone yet. running the defenders in the second to make it four zero a season high one hund

. >>> enron has been in tailspin ever since revelations that its former chief financial officer ran partnershipsowing the company to keep half a million dollars in debt off its books. last month the company restated its earnings since 1997, eliminating more than $580 million it had reported in previous income. [ morgan ] the super bowl. the most epic day in america. and the end of a journey that began here... ...when the swipe of a visa card... ...gave one man the chance to bring happiness to ten friends, including the knuckleheads at the car wash. those are super bowl tickets? yes dude! you're going to the super bowl! [ morgan ] use your visa card for a chance to win. to see more of the story, visit our facebook page. >>> coming up on 5:45 in the morning. 2:45 at los angeles international airport. where the winds in southern california have been up to 100 miles per hour last couple of days. let's check in weather from todd santos. what's going on? >> what we're setting up with there again, santa ana event, winds have settled down for the overnight hours, again today we'll see them pick up and l