Trial, Week 9: Home stretch for the prosecution

Nine weeks in, and here we are in what may be the last days of the prosecution's case in the trial of ex-Enron execs Ken Lay and Jeff Skilling. Hang in there: It's almost time for everyone to go to the lobby to get popcorn and a Coke. But first, just a bit more testimony to go.

Last week's star witness, former Enron treasurer Ben Glisan Jr. — the prosecution's closer, since we're thinking in baseball terms — will continue testifying under cross-examination today. Glisan testified for three days last week, saying ex-Chairman Lay and ex-CEO Skilling not only knew Enron was deceiving investors, analysts and the public about the company's failing health, but helped the company do so. One of the highlights of the week (and, in fact, of the whole trial) was when Glisan said Lay "giggled ... in delight" when he learned about financial structures that would allow Enron to hedge some of its investment and hide losses. Unfortunately, it turns out Lay might not be a giggler, as Glisan admitted under cross. Ah well.

An interesting point about the prosecution's case isn't so much who has testified, but who hasn't — namely former Enron Chief Accounting Officer Richard Causey, who might be held as a rebuttal witness. Though Causey's name has come up again and again in testimony (for example, in connection with the "global galactic list" of side deals that ex-CFO Andy Fastow drew up and Causey signed off on), experts say he might be more powerful as an unseen force than as an actual witness:

"A single provable lie on something significant could alone convict a testifying defendant in a case like this. And since only the government knows what Causey can and can't say, he acts as a major deterrent against either defendant fabricating specific claims about events, meetings, what they were not told, and the like," [UT law professor Sam Buell] said.

This week, prosecutors expect to call three or four witnesses after Glisan finishes his testimony, and the government could rest by mid-week. Judge Sim Lake has indicated he might give defense lawyers a day or two off to prepare for their case, which could begin Monday.