ENRON: THE MOVIE

Warner Brothers and Leonardo di Caprio’s Appian Way production company are co-producing a feature based on the Houston energy company’s collapse, from US$90 per share to US$0.50, arising from a series of questionable Special Purpose Vehicles such as Chewco, Jedi I and II, LJM1, LJM2, the Raptors, and Braveheart set up by Andrew Fastow, then CFO of the company.

Apparently, WB has paid a seven-figure sum for the rights to New York journalist Kurt Eichenwald’s ‘Conspiracy of Fools’ and appointed Sheldon Turner to pen the script.

The story of Enron is interesting to me because I worked in the bank which acquired the online trading arm of Enron, without assuming any debts or liabilities, and has turned it around. I remember a number of banks were invited to go into the data rooms prior to any formal bids and many banks did send their best people to have a look at the numbers.

If di Caprio plays Fastow, it will be interesting to see his interpretation of a man who knows he’s committing a crime.