{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Enron hearings in Congress, Lay appears for 2nd time' data-url='/boclips/videos/5c54c3dcd8eafeecae16475c' data-video-url='/boclips/videos/5c54c3dcd8eafeecae16475c' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nEnron hearings in Congress, Lay appears for 2nd time\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Kenneth Lay walks into hearing room, sits down at witness table 2. Wide shot of hearing room3. SOUNDBITE: Senator John McCain/Republican, Arizona\"Mr. Lay, I regret that you have chosen not to explain to this committee, to the American...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Kenneth Lay walks into hearing room, sits down at witness table \u003cbr/\u003e2. Wide shot of hearing room\u003cbr/\u003e3. SOUNDBITE: Senator John McCain/Republican, Arizona\u003cbr/\u003e\"Mr. Lay, I regret that you have chosen not to explain to this committee, to the American public and to your former employees how you, and others in senior management and on the board of Enron, apparently failed to completely fulfill your responsibilities.\"\u003cbr/\u003e4. Cutaway of committee panel\u003cbr/\u003e5. SOUNDBITE: Senator Byron Dorgan/Democrat, North Dakota\u003cbr/\u003e\"I must say I am disappointed by that decision. I think Mr. Lay has a story to tell, we and the American people would like to hear that story. The bankruptcy of this corporation is not a garden variety business failure. It's a bankruptcy framed by very serious questions about the behaviour of officers, directors and the accounting firm that audited the corporation's books.\"\u003cbr/\u003e6. Wide shot of Lay listening\u003cbr/\u003e7. Wide shot of committee panel\u003cbr/\u003e8. SOUNDBITE: Senator Peter Fitzgerald/Republican, Illinois\u003cbr/\u003e\"You know what, Mr. Lay? I thought that after any role you might have played in bankrupting a 100-billion-dollar a year company, devastating the retirement savings of thousands of your employees, spreading fear through millions of Americans concerned about their investment, and calling into question the very integrity of our capital markets, I thought you might think it was important to answer those questions, too. But apparently you do not. Apparently you don't think it was the least you can do.\" \u003cbr/\u003e9. Lay taking the oath\u003cbr/\u003e10. Wide shot of committee\u003cbr/\u003e11. SOUNDBITE: Kenneth Lay, Former Enron CEO\u003cbr/\u003e\"I've also wanted to respond, to the best of my knowledge and recollection to the questions you and your colleagues have about the collapse of Enron.  I have, however, been instructed by my counsel not to testify based on my fifth ammendment constitutional rights.  I am deeply troubled about asserting these rights, because it may be perceived by some that I have something to hide. But after agonising consideration, I cannot disregard my counsel's instruction. Therefore, I must respectfully decline to answer, on fifth ammendment grounds, all the questions of this committee and subcommittee and of those of any other congressional committee or subcomittee.\"\u003cbr/\u003e12. Wide shot of hearing room \u003cbr/\u003eIn a widely anticipated move, former Enron C-E-O Kenneth Lay appeared before a Senate committee Tuesday, and exercised his constitutional rights by refusing to testify to Congress.\u003cbr/\u003eLay, the presidential pal who built Enron into a darling of Wall Street only to see it collapse in scandal, said he was troubled about asserting those rights, but said his attorneys advised him not to testify.\u003cbr/\u003eSenators, meanwhile heaped scorn on the former C-E-O, expressing their disappointment towards his decision not to answer questions, and denouncing his conduct while head of Enron.\u003cbr/\u003eIn a brief statement to the committee, Lay expressed a \"profound sadness\" about what happened to Enron, and said he wanted to respond to questions.\u003cbr/\u003eBut Lay said his counsel advised him not to answer congressional questions, and he said he couldn't disregard his counsel's advice.\u003cbr/\u003eLay was forced to appear before the 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