"From the gut (and the heart)"
Editorials by Paul Olivier
Ex ENRON Exec Exit
 Not understanding why a man in the prime of life, with great credentials, success and bank account, put an end to it, brought me to use my common sense driven intuition to speculate on this hard to understand event. Clifford Baxter, 38, had according reports from inside Enron, complained about accounting practices at this company. He was known to speak his mind (small wonder in his position). Was this making him a whistle blower blower? He stepped down last year as V.P., knowing of the problems of the company sold his stock for ten's of millions and stayed on the board of directors. Isn't' that a well paid position, for relative little effort? This leads to the appearance of payoff, even extortion.
My speculation according the aforementioned facts: 
He knew, to much, reason to keep him involved and on the Board of Directors. Further speculating: While he spoke up internally in the company, he could not report this to F.T.C. or whatever authorities, knowing that this would take confidence from the stock market, the value of the stock and eventually the company down. His position was between a rock and a hard place.
Now, after the to expected collapse, he became in the unpleasant position to have to testify for Congress commissions, to have known and not have reported. This would expose his willing or unwilling position as having received pay for not reporting. He was going to be the whipping boy.
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  Date 01/28/2002