"I hereby resign my position as Chief Executive Officer of Enron Corp." So began the handwritten note addressed to Enron's board of directors. That line is scratched out. In small, barely legible handwriting, the writer starts over: "After much consideration [crossed out] evaluation and consideration, I have decided [crossed out] concluded that I cannot be effective in carrying out my duty as President and Chief Executive Officer of Enron Corp. Please accept my resignation effective immediately."

Jeff Skilling wrote his first resignation note on April 30, 2001, just three months into his tenure as CEO. He never sent it. But from his first day, he secretly had one thing uppermost in his mind: quitting.

In all the time he had been at Enron, Skilling had always seemed supremely confident. Now that he was CEO, the facade was crumbling.

An old Enron friend came to visit him. She knew Skilling well, and could tell he was falling apart.

"You've got a problem," she said. "The people you're closest to and loyal to, you've made too much money for them. The next layer down, the Whalleys, the Fallons, they will slit your throat if it means they'll get to the trough faster."

Once upon a time, Skilling would have thrown her out of his office for a remark like that. Not now. He stared out the window for a few moments and replied, "Mandy, you're most likely right."