"No excuses for this Enron Board"

Couldn't another explanation be that the Board DID UNDERSTAND the partnership transactions and were comfortable with the deals once the Chinese Walls and protections were put in place?

I don't believe the Board members would shirk their responsibilities (as you pointed out, most of the members have more than the average expertise to understand the transactions) if for no other reason than not taking the chance in possibly sullying their individual reputations by not properly vetting the deals.