"Enron: Smartest Guys in the Room" Question

I think they were both absolutely fully aware. I was looking for others opinions though. Thanks for your contribution.

Here's my take. Lay had practically retired and had turned things over to Skilling. Skilling abruptly left the company which thrust Lay back into active management.

Once back in the saddle, Lay saw what was happening and thouoght he could steer the ship through the pending crisis. At that point he was part of the deception however I think deep down he thought he could save the company. I think his motives were good but the company was too far gone to be saved.

We all know what happened later. I really don't believe he was in on the deception from the very beginning, however he took the fall when he couldn't pull it out.

Someone should ask former Enron advisor and stock touter Paul Krugman what he knew.
Of course that might interrupt his tea with the First Lady so....