The former CEO of Enron, Jeffrey Skilling, was indicted today by a Texas federal grand jury. Skilling is expected to surrender tomorrow. He is the highest-ranked Enron executive to date to be indicted.

Skilling did not invoke his 5th Amendment privilege when subpoenaed to testify before Congress. He testified before the U.S. House Energy and Commerce Committee on Feb. 7, 2002. Here's a snippet:

When I left on Aug. 14, I believed the financial reports accurately reflected the condition of the company . . . I absolutely, unequivocally thought the company was in good shape." "I cannot for the life of me see how we could go from where the company was then to bankruptcy in such a short time."

"It is my belief that Enron's failure was due to a classic 'run on the bank,' a liquidity crisis spurred by a lack of confidence in the company. At the time of Enron's collapse, the company was solvent and highly profitable -- but apparently not liquid enough. "

Will Ken Lay be next?