A witness, who was flying in the traffic pattern, observed the jet cross the shoreline heading westbound at around 50 to 75 feet above the ground. The airplane then made an abrupt turn from west to north. The witness saw the jet descend into the trees and then he saw a fireball. Witnesses on the ground observed the airplane make a hard descending right turn, strike a power pole, and then impact the ground The pilot said that on the approach, the airplane 'developed a high sink rate of descent.' He felt that he did not get the throttles up fast enough to arrest the descent and that the right engine suffered a compressor stall. Examination of the left engine revealed foreign object damage while there was no foreign object damage to the right engine.