Ominous pitch-black clouds of Tropical Storm Frances had rolled in overnight from the Gulf of Mexico, dumping sheets of water. Swollen bayous around the city spilled into the streets, trapping cars and buses in swirling torrents. Just past eight that Friday morning in September 1998, Michael Jakubik, the Bankers Trust deal maker from London, walked out of the St. Regis hotel and into the deluge. Not a good start. Not today, when he was interviewing with Jeff Skilling and Andy Fastow about joining Enron. It had been more than a month since McMahon pitched the idea of making him Enron’s investment czar, responsible for managing billions of dollars in holdings—setting up equity funds, selling assets, everything. Even though it meant moving his family from London, the opportunity seemed too enticing, one that could lead to even bigger things in the private-equity business. That is, if Enron hired him. Jakubik approached a couple of taxis before finding a driver willing to brave the weather.
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